Private equity fundraising in the mid-market during 2011 reached EUR14.9bn in 2011 – an increase of around 40% on the previous year, when just EUR10.5bn was raised, according to Acanthus Adviser’s latest annual review of the sector.
The firm’s European Mid-Market Fundraising Review 2012 has identified the top performing regions as France, Benelux and Scandinavia. 

2011 also saw a marked return of large-cap funds (funds >EUR1bn) – raising EUR18bn, up from just EUR1bn in 2010 and EUR9bn the previous year, but still well short of the boom years (2007: EUR43bn).
There are still a record number of funds in the market, but success levels are falling, evidenced by a lower average fund size in the mid-market: EUR281m, down from EUR369m in 2007
Turnaround funds beat their 2007 record year of EUR1.4bn, raising a total of EUR1.6bn
Benelux, France and Scandinavia were the strongest performers, with the UK falling from top spot to fourth place in terms of aggregate fundraising performance
There was further evidence of heightened discernment in the fundraising market: just 4% of capital was raised by those GPs ranked lowest on strategy, track record, team and LP base
Capital overhang has fallen from EUR119bn to EUR94bn – still 32% of all funds committed since 2004. This figure is expected to fall further as 2007 and 2008 funds reach investment period expiry.
