Fundraising continues to be challenging for many fund sponsors. Second quarter data compiled in July from PitchBook suggests that private capital fundraising remained stagnant in the first half of 2026, particularly in private equity, real estate and other real assets, and is concentrated in a small set of larger, established managers. Investors have not received their capital back from earlier funds, asset values remain uncertain and there is the threat of future interest-rate increases. New geopolitical risks in the Middle East and elsewhere have only compounded the problem. All of these factors led investors to be more cautious in their fund investing. They are asking more questions and taking more time.
Despite these difficulties, there are large institutional investors
