After a first quarter that registered 27 fund closings and a record volume of $63.0 billion, it’s not a surprise that second-quarter fundraising experienced a significant drop-off. A total of 23 funds reported final closings during the April–June period, raising an aggregate of $19.1 billion. The total marked the lowest second quarter production since 2013, when fundraising totaled $18.2 billion.

A total of 29 new investments funds were launched during second quarter 2019, making the number of launched funds the lowest since the launch of 29 funds in the fourth quarter of 2012.