Data & Intelligence

Q3 2016 Emerging Markets Private Capital Industry Statistics

In the first three quarters of 2016, fund managers raised US$24 billion across 137 EM-focused private equity, private credit, infrastructure and real assets funds, representing a 30% year-on-year decline in capital raised. The total is the lowest through the first three quarters of a year since 2010. A decline in fundraising for Emerging Asia regional funds—which fell from US$9.4 billion to US$1.9 billion, year-on-year—had the largest impact on overall EM fundraising figures and was only partially offset by greater fundraising for China-focused vehicles. The largest funds closed in the third quarter were FountainVest China Capital Fund III and IDG China Capital Fund III, with commitments of US$2.1 billion and US$1 billion, respectively. CEE and CIS was the only region to post a year-on-year gain in fundraising, due to a resurgence in capital raised for Turkey-focused funds, led by The Abraaj Group and Taxim Capital Private Equity, which both held closes for funds dedicated to the country in the third quarter.

Capital invested and the number of deals completed in emerging markets also declined in Q1 through Q3 2016, falling 19% and 10%, respectively, year-on-year. Through the first three quarters of the year, capital invested has fallen across all major EM regions except for Sub-Saharan Africa. Disclosed capital invested in Sub-Saharan Africa reached US$512 million in Q3 2016, the highest quarterly total for the region since Q2 2014. Large Q3 2016 growth investments in East Africa-focused Horn of Africa Pipeline, Cote d’Ivoire-based Atlantic Business International (ABI) and Nigeria-based Beloxxi drove the uptick in capital deployed.

EMPEA Members log in to receive exclusive access to the detailed report (PowerPoint) and underlying data (Excel). The report includes fundraising and investment totals by region, country, sector and strategy; tables of the largest funds and investments; Cambridge Associates’ performance benchmarks; and more.

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EMPEA has served as a useful reference platform for CDPQ by helping to define the eligible universe of fund managers in growth markets. Membership provides background data and a...

Rashad Kaldany | Executive Vice-President and Growth Markets, CDPQ

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Managing Director, The Carlyle Group