Impulse equals momentum change: Third quarter numbers at lowest point since third quarter 2014
Last quarter we mentioned that first quarter 2015 saw the highest fundraising volume since third quarter 2008 ($31.9 billion), the highest first quarter total since FundTracker began collecting data in 2007. Second quarter’s $28.4 billion total capital reported by funds holding final closings in April, May or June was the most of any second quarter since 2008.
Looking at third quarter 2015 numbers, we can unfortunately see that the $23.9 billion in fundraising is back around the average totals recorded since third quarter 2013. Third quarter posted 21 fund closings, the lowest number of closings since second quarter 2012. Second quarter 2015 totals relied on the sheer volume of funds closing for its higher-than-normal total. Thirty-nine funds closed in second quarter 2015 compared to 28 funds in the first quarter, which is also the number that closed in second quarter 2014.
Of the 21 funds that closed this quarter, eight were megafunds, $1 billion or more,