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Outlook for Emerging Managers in Europe

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Outlook for Emerging Managers in Europe

Europe-focused fundraising by emerging managers (defined by Preqin as those that are first-or second-time fund managers) has become much more challenging in recent years, declining from a peak of 38 funds reaching a final close in 2008 raising an aggregate €5bn, to a low of 16 funds closed raising €1.2bn in 2012. 2013 saw only six emerging manager funds closed focusing on Europe, although the capital raised increased significantly to €2.5bn. However, it is important to note that a large proportion of this was raised by Perella Weinberg Partners’ Perella Weinberg Real Estate Fund II, which raised a significant €1.3bn; although this is only the firm’s second private real estate fund, they are a well-established private equity fund manager. This improvement in fundraising is further reflected, which demonstrates that the proportion of capital raised by fi rst- or second-time fund managers increased to 30% for funds closed in 2013, compared to 19% for funds closed in 2012.

Source : Preqin

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Keywords : Preqin