Private Placement Industry Insights as of July 31, 2020

Thursday, August 6th, 2020 and is filed under AI Insight News

We recently released our July 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.

  • Private placement fund activity picked up in July with the help of energy and private equity/debt. However, our coverage is down year-over-year after an anemic spring.
  • Thirteen new funds were added to our coverage in July, more than the last couple of months but well below the 20 or more funds added each month in 2019. Our coverage is down 4.26% in terms of new funds added year-over year, and 23.15% in terms of the aggregate target raise. Fewer funds have been added and they’ve been targeting less capital.
  • As of August 1st, AI Insight covers 171 private placements currently raising capital, with an aggregate target raise of $16.5 billion and an aggregate reported raise of $8.2 billion or 50% of target.
  • Real estate-related funds, including 1031s, opportunity zones, and non-1031 real estate LLCs and LPs represent the largest component of our private placement coverage, at 75% of funds and 61% of target raise. Private equity/debt funds represent a relatively small amount of our coverage in terms of the number of funds at only 9%, but tend to be larger and represent 27% of aggregate target raise.
  • In terms of our coverage by general objective, income is the largest component at 52% of funds, while growth and growth & income follow at 30% and 17%, respectively.
  • The average size of the funds currently raising capital is $96.6 million, ranging from $3.5 million for a single asset real estate fund to $2.7 billion for a sector specific private equity/debt fund.
  • 75% of private placements we cover use the 506(b) exemption, 13% use 506(c) and 12% have not yet filed their Form D with the SEC.
  • 13 private placements closed in July, having raised approximately 61% of their target and having been on the market for an average of 364 days. 94 funds have closed in 2020, having raised 67% of their target. 71% of funds that closed met or exceeded their target.
  • Five private placements suspended offerings and one terminated due to uncertainties related to COVID-19.
  • ON DECK: as of August 1st, there were three new private placements coming soon, including two opportunity zone funds and one conservation fund.

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Chart and data as of July 31, 2020, 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.

On a subscription basis, AI Insight provides informational resources and training to financial professionals regarding alternative investment products and offerings. AI Insight is not affiliated with any issuer of such investments or associated in any manner with any offer or sale of such investments. The information above does not constitute an offer to sell any securities or represent an express or implied opinion on or endorsement of any specific alternative investment opportunity, offering or issuer. This report may not be shared, reproduced, duplicated, copied, sold, traded, resold or exploited for any purpose. Copyright ©2020 AI Insight. All Rights Reserved.