Secondaries funds had their strongest ever fourth quarter of fundraising, having already exceeded all full-year totals by the end of the September.
Funds that held final closes during 2020 raised $95.57 billion, $35.87 billion of which was in the fourth quarter, according to Secondaries Investor data. AlpInvest Partners, Goldman Sachs and HarbourVest Partners accounted for a combined $27.4 billion of the fourth-quarter total.
The average fund to close during the year was $1.87 billion in size, the first time this figure has exceeded $1 billion.
Funds in market were targeting $72 billion as of 1 January, compared with $93.3 billion at the end of the third quarter. Blackstone Strategic Partners and ICG have both said they are returning to market in 2021, adding at least $15 billion to this figure.
Download the full presentation as a PDF here.
Download the data here.
Find the Secondaries Investor database here.