Private Placement Industry Insights as of April 30, 2022

Wednesday, May 18th, 2022 and is filed under Industry Reporting

We recently released our April Private Placement Insights report. See the highlights from the report below, or if you are a Premium Reporting subscriber, log in now to see the entire report. If you don’t have access, you can request a free trial.

  • 23 new private placements were added to our coverage in April, slower than prior months. On a year-over-year basis, however, we have added more funds than last year (+15%), and these funds are targeting a larger amount of capital (+51%).
  • Activity this year is led by the real estate categories, including Opportunity Zones, real estate LLCs/LPs, private non-traded REITs, and 1031 exchanges. Activity has slowed in the private equity/debt and hedge fund categories while activity within the energy, managed futures, and preferred segments are flat year-over-year.
  • As of May 1st, AI Insight covers 197 private placements currently raising capital, with an aggregate target raise of $21 billion and an aggregate reported raise of $9 billion or 43% of target.
  • Real estate-related funds, including 1031s, Opportunity Zone funds, and non-1031 real estate LLCs/LPs and private REITs represent the largest component of our private placement coverage at 75% of funds and 61% of target raise. Private equity/debt funds represent 13% of funds and 24% of target raise, although this does include six private market feeder funds that do not specify an offering target.
  • In terms of coverage by general objective, income is the largest component at 55% of funds, while growth and growth & income follow at 30% and 16%, respectively.
  • The average size of the funds currently raising capital is $107 million, ranging from $4.0 million for a private managed futures fund to $2.0 billion for a private BDC.
  • 77% of private placements we cover use the 506(b) exemption, 14% use 506(c) and 9% have not yet filed their Form D with the SEC.
  • 22 private placements closed to new investors in April and 101 have closed year-to-date. Funds that closed this year have been on the market for an average of 272 days and reported they raised 78% of target on average.

For illustrative purposes only.

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Chart and data as of April 30, 2022, 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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