We are pleased to announce our 2015 European Mid-Market Fundraising Review, now in its ninth year. This annual review is based on our ongoing proprietary research into the European mid-market covering private equity funds between €100 million and €1 billion.
This year’s review shows that private equity fundraising in the European mid-market saw an impressive rise in 2014, reaching its highest level since 2007. The amounts raised reached €15.6bn in 2014 – an increase of 56% on the previous year, when just €10.0bn was raised. The top performing region was the UK, with fundraising success spread evenly across the rest of Europe.
· Mid-market fundraising (funds <€1bn) up 56% on 2013, to €15.6bn from €10.0bn
· 2014 saw declining levels of large-cap fund fundraising (funds >€1bn) – raising €19bn, just short of the €22bn the previous year and still markedly short of the boom years (2007: €46bn)
· There are still a record number of funds in the market, but the capital raising environment remains challenging, evidenced by a lower average fund size in the mid-market: €289m, down from €322m in 2012
· The UK was the strongest performer by a substantial margin, raising €7.4bn across 15 mid-market funds, up from a previous high of €5.7bn in 2007
· Spain experienced its most successful post-recession fundraise with €1.3bn raised across 7 mid-market funds
· Capital overhang has risen once again from €124bn to €130bn – this upward trajectory is expected to continue until self-sustained economic growth encourages deal flow over the medium term.
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