(1888PressRelease)
October 16, 2007 - Private equity fundraising in the US is on target to set a new record, defying the impact of the recent credit crunch in markets worldwide.
Despite a downturn in the number of deals being enacted, 295 private equity firms have raised $199.4 billion in the first nine months of this year, according to data from Private Equity Analyst magazine.
This compares with $154.1 billion raised by 232 firms during the same period last year.
At the midpoint of this year, the figure stood at $60 billion less, meaning that fundraising has not slowed in the last three months.
Factoring in ongoing fund raising programmes from private equity giantsApollo Management, the Carlyle Group and Warburg Pincus, each of which is in the process of raising fund of $10 billion or more each, it is likely that 2006's fundraising record will be broken, the International Herald Tribune predicts.
Alan Kosan managing director of consulting firm Rogerscasey said: "Despite the obvious correction in the credit markets, there is still some momentum in terms of limited partner interest and fund offerings
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