Private Placement Insights as of October 31, 2024

Tuesday, December 3rd, 2024 and is filed under Industry Reporting

We recently released our October Private Placement Insights report. See the highlights from the report below, or if you are an AI Insight by iCapital subscriber, log in now to see the entire report.

• Twenty-six new private placements were added to iCapital Insight (“the platform”), iCapital’s investment product training database, in October. Overall, this year’s activity is tracking measurably higher than last year, with 15% more funds added and those funds targeting 28% more capital.
• As of November 1st, iCapital Insight covers 298 private placements currently in the market, targeting an aggregate raise of $73 billion and an aggregate reported raise of $54 billion or 74% of target.
• The average capital raise target of the funds currently on the platform is $330 million for those that report a target. Funds range in size from less than $10 million for a small real estate fund to a recently increased $17.5 billion AUM diversified private equity and debt fund.
• Real estate-related funds continue to dominate our coverage, representing 69% of the total number of funds and 80% of aggregate target raise. However, private equity and debt’s share of the target raise is likely much higher as there are a number of access funds without specific dollar targets.
• Income remains the largest investment objective category at 54% of funds, while growth and growth and income follow at 22% and 21%, respectively.
• In terms of regulatory exemptions, 55% of private placements on the platform utilize the 506(b) exemption, while 39% use 506(c) and 6% have not yet filed their Form D with the SEC.
• Sixteen private placements closed to new investors in October and 175 have closed year-to-date. On average, these funds spent 447 days on the platform, with 153 of the funds reporting a raise at 83% of target, on average.

Source: AI Insight by iCapital, as of October 31, 2024. Based on programs activated on the AI Insight platform as of this date.

For illustrative purposes only. Past performance is not indicative of future results. Future results are not guaranteed and loss of principal may occur.

 

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Source: AI Insight by iCapital, as of October 31, 2024. Based on programs activated on the AI Insight platform as of this date.

Activated means the program and education module are live on the AI Insight platform. Subscribers can view and download data for the program and access the respective education module.

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