During the fourth quarter 2019, 23 fund closings were recorded, representing an aggregate dollar volume of $14.7 billion. The final quarter’s activity pushed the 12-month total to $120.7 billion, the highest figure of the decade but less than the all-time record amount of $134.9 billion posted in 2008.

A total of 53 new investment funds were launched during fourth quarter 2019, the highest amount of new funds launched since third quarter 2017. In fact, this is the highest amount of funds launched since first quarter 2011 (73 new investment funds).