Up but down: third-quarter fund totals are up from the previous quarter, but down compared to last year
Third quarter fund totals for 2014 are up, totaling $20.5 billion in fundraising, compared to second quarter at $17.1 billion. This is somewhat of a median for the year-to-date figures, as the first quarter fundraising totals were $23.7 billion.
The largest fund to close in third quarter 2014 was Lone Star Fund IX, which brought in $7.2 billion in capital by its July 2014 final close. The fund targets financial and other investment assets, including single-family residential debt and corporate and consumer debt products in the United States, western Europe and Japan.
Lone Star Fund IX, narrowly beat out the largest fund to close in the first half of 2014, The Blackstone Group’s Blackstone Real Estate Partners Europe IV, which topped $7 billion.
Mega-funds seem to be the trend of 2014, and after pulling in two-thirds of investor capital raised in fund closings during the first half of 2014, mega-funds — defined as funds raising at least $1 bil