The success of a handful of mega funds has driven European private equity fundraising to an aggregate €116bn in 2023, close to the all-time annual high of €118.7bn raised in 2021, according to data from PitchBook.
Standouts for the year include CVC Capital Partners, which closed its ninth flagship fund on €26bn, exceeding its €25bn target, and making it the world’s largest-ever buyout fund.
Permira pitched in with its own mega fund-raising, with the firm’s VIII fund closing on €16.7bn, €1.7bn above target. Making it Europe’s third largest-ever PE fund ever.
Overall, as of 12 December, some 106 European PE funds had closed in 2023, collectively raising €115.9 billion – a 35.9% increase on they full-year total for 2022, with the ten largest funds accounting for €80.5bn of the total funds raised. By comparison, in 2021, the €118.7bn raised was spread across 270 fund closes.
