- Oaktree Raised Large Distressed Fund
It might not seem logical at first, but private-equity firms continue to roll in the cash, raising $222.6 billion so far this year (11 percent above last year) with a big boost of fundraising in the third quarter, according to Dow Jones Private Equity Analyst.
Leading the money chase were funds poised to take advantage of the chaos now gripping the U.S economy: distressed-company funds and mezzanine funds, which invest in more mature startups unable to float IPOs.
Distressed funds raised $37.9 billion this year, up 28 percent from last year. Mezzanine funds collected an astonishing $36.9 billion this year, up from only $3 billion last year.
Without the distressed and mezzanine firms, fundraising would have been weaker than last year, Jennifer Rosa, managing editor of the newsletter, said Tuesday.
Here are some of the numbers:
Category This Year Last Year
(Through 3rd quarter)
Buyout, Corporate/Distressed $151.5 billion $155.8 billion
Mezzanine 36.9 billion 3.1 billion
Venture Capital 19.7 billion 19.1 billion
