European Private Equity Funds of Funds
The Facts
European Private Equity Funds of Funds
The number of Europe­focused private equity funds of funds to close so far in 2015 is at its lowest ever level, with just seven vehicles having held a final close. Despite slow fundraising, 2012 vintage funds have seen the highest median IRR historically and a substantial number of European investors are still showing an interest in committing to this strategy. Here, Preqin compiles the latest data on the European fund of funds market.
Fig. 1: Annual Europe­Focused Private Equity Fund of Funds Fundraising, 2005 ­ 2015 YTD (As at 18 November 2015)
60
57
50
46
44
40
12%
Germany
18%
Switzerland
4%
35
33
UK
5%
30
21
18.4
20
10
Fig. 2: Proportion of Europe­Based Private Equity Fund of Funds Managers by Location
8.5
7.8
25
22
5.2
5.7
3.8
5.4
Italy
19
16
7.2
France
5%
17%
Spain
6%
Denmark
7
3.1
3.4
6%
1.3
Luxembourg
0
Norway
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
YTD
Year of Final Close
No. of Funds Closed
12%
17%
Other
Aggregate Capital Raised (€bn)
Source: Preqin Funds in Market
Source: Preqin Investor Intelligence
Fig. 3: Top Five Europe­Focused Private Equity Funds of Funds Closed, All Time
Fund
Firm
Final Size (mn)
Final Close Date
Manager Location
HarbourVest Partners
2,375 EUR
Jan-07
US
Bpifrance Investissement
2,000 EUR
Apr-12
France
ATP Private Equity Partners II
ATP Private Equity Partners
1,500 EUR
Apr-05
Denmark
ATP Private Equity Partners III
ATP Private Equity Partners
1,500 EUR
Jan-08
Denmark
ATP Private Equity Partners IV
ATP Private Equity Partners
1,375 EUR
Dec-10
Denmark
HarbourVest International V Partnership
France Investissement III
Source: Preqin Funds in Market
Key Facts:
107
Number of Europe­based private equity fund of funds managers.
15.8%
Median IRR for Europe­focused private equity funds of funds with a 2012 vintage, the highest ever.
€61.9bn
33
Aggregate capital raised in the last 10 years by Europe­focused private equity funds of funds.
Number of Europe­focused private equity funds of funds currently in market, seeking an aggregate €6.6bn
Data Source:
Preqin’s Private Equity Online features details of all 1,814 private equity funds of funds currently in market or closed historically,
including 514 with a European focus. Private Equity Online contains detailed information on fundraising, investment preferences,
performance and more.
For more information, or to arrange a demonstration, please visit: www.preqin.com/privateequity
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