The amount of funds raised by European private equity managers, including breakdowns on stage focus, sources of funds by type of institutional investor and geographic source.
2017 Key Findings
- Total fundraising in 2017 reached €91.9bn, Europe’s highest level since 2006 and a 12% increase year-on-year. The number of funds raising new capital increased by 15% to 542.
- Pension funds provided 29% of all capital raised, followed by funds of funds (20%), family offices & private individuals (15%), sovereign wealth funds (9%) and insurance companies (8%). Institutional investors from outside Europe contributed more than 40%, with investors from Asia making their highest contribution to date with a 15% share.
- Buyout fundraising increased by 5% to €65.1bn. More than 70% of this amount was raised by funds of more than €1bn. Pension funds remained the largest institutional investor in European buyout funds contributing 37%, followed by funds of funds & other asset managers (21%), family offices & private individuals (12%), sovereign wealth funds (12%), insurance companies (5%). Investors from outside Europe contributed more than half of the total buyout fundraising, with those from North America representing a third of the capital raised.
- Venture capital fundraising reached €7.7bn, only slightly below 2016’s record year, when €8.2bn was raised. These two years of VC fundraising are markedly higher on average than the previous four years. For the first time, venture funds raised on average almost €100 million at final closing — almost double the average of ten years ago. Fifteen of the 50 venture funds that raised capital reached more than €100m at final close, raising 80% of the total amount. Government agencies contributed 29% to the total VC fundraising amount, followed by family offices and private individuals (23%), funds of funds & other asset managers (18%) and corporate investors (8%).
- Growth capital saw a 41% year-on-year increase to €6.8bn — the highest level since 2011. The strategies of these funds range from scaling up venture capital-backed companies, to making minority equity investments in mature SMEs or pursuing regional development policies with the backing of banks or public institutions.