A total of 55 private placements closed in December (higher than average primarily due to the closing of all open conservation funds), with roughly 66 percent of those reporting a raise meeting or exceeding their target raise, according to AI Insights.
Some 209 private placements closed during 2020, having been on the market for an average of 299 days and reporting they raised 71 percent of their target on average (of those that reported). About 70 percent met or exceeded targets, and only 12 percent were able to raise less than half of their target. 11 funds did not report a raise.
Despite the COVID-19-related slowdown in the second quarter, AI Insight’s private placement coverage ended the year nearly on par with the record-setting 2019. The number of new private placements added to its coverage during the year was two fewer than 2019 (down 1 percent), while the aggregate target raise of $9 billion was roughly 8 percent less than the target in 2019. The 199 funds a
