The first quarter of 2015 saw the highest fundraising volume since Q3 2008. The quarterly volume of €27.8 billion ranked as the highest Q1 total since FundTracker began collecting data in 2007.

Now that the Q2 numbers are in, we can start thinking that the Q1 numbers might be part of a trend, as fundraising in Q2 2015 continued the record pace. The €24.7 billion total capital reported by funds holding final closings in April, May or June is the most of any second quarter since 2008.

While the Q1 total received a significant boost from the close of the record-setting €13.7 billion Blackstone Real Estate Partners VIII, which accounted for almost half of the total raised that quarter, the second quarter relied on the sheer volume of funds closing for its higher-than-normal total. Thirty-nine funds closed in Q2 2015 compared to 28 funds in the first quarter, which is also the number that closed in Q2 2014.

The largest fund to close in the second quarter was Lo