Buyouts stood out in a tough year
Private capital pulled in the lowest amount since 2018, yet buyout funds raised 18% more capital year over year
Global private capital raised, buyouts
View buyouts only
View buyouts only
View total industry
View total industry
$222B
216
206
283
333
289
452
366
454
379
22
21
20
19
18
17
16
15
14
2013
The top 20 funds captured more than half the buyout capital raised
But only some reaped the rewards
The average fund size skyrocketed to a record-breaking
$1.2 billion, but the number of funds closed dropped drastically
More capital, fewer closers
Fund-raising isn’t about a handshake over lunch anymore. Success requires commercial motions akin to those
of world-class B2B sellers, including:
How to win in a tough environment
Setting a growth ambition with a clear view on where capital is likely to come from
Using data to segment LPs, prioritize accounts, and design campaigns to fit
Understanding how LPs see you and honing a differentiated value proposition
23
$448B
Count of buyout funds closed globally
Average size of buyout funds closed globally
2022
2023
2022
2023
722
449
$1.2B
$673M
Global buyout capital raised
–38%
+83%
Change in buyout capital raised, 2022–23
18
%
$448B
$379B
$454B
$366B
$452B
$289B
$333B
$283B
$206B
$216B
$222B
Notes: Includes closed-end and commingled funds only; buyout category includes buyout, balanced, coinvestment,
and coinvestment multimanager funds; data includes funds with final close and represents the year in which they held their final close; other category includes fund-of-funds and mezzanine; excludes natural resources; excludes SoftBank Vision Fund; count of buyout funds closed includes all buyout funds closed, including those for which the value of final funds raised is not available; average size of closed buyout funds is total funds raised across all buyout funds for which the value of final funds raised is available, divided by the total number of buyout funds for which only the value of funds raised is known
Sources: Preqin; Bain analysis
Being recognized for innovation
Buyouts
$1.2T
1.5
1.7
1.4
1.4
1.1
1.2
1.1
0.8
0.7
$0.6T
Top 20 funds
429 other funds
51
%
$448B
Building a team with the right capabilities to deliver results
Other fund types
Global private capital raised, industrywide