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- First Quarter 2019

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Records fall as fundraising total soars

by Larry Gray

First quarter fundraising volume didn’t just break records … it obliterated them. After a fourth-quarter slowdown that recorded 27 fund closings and total volume of just $14.9 billion, the first quarter of 2019 exploded with a record volume of $60.7 billion, based on 25 fund closings.

The $60.7 billion total set a new record for capital raised in a first quarter, shattering the previous mark of $30.4 billion set in 2018. It also is the highest quarterly total ever, eclipsing the second quarter 2008 figure of $57.2 billion. For additional perspective, the $60.7 billion first quarter volume represents 54 percent of 2018’s 12-month fundraising total. And, not surprisingly, the quarter’s average fund size of more than $2.5 billion also represents a new high.

Three super mega-funds fueled the record-setting activity. Blackstone established a new highwater mark for the largest private equity real estate fund ever, raising $17.3 billion for Blackstone Real Estate Part

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