The early read on fundraising through Q3 from Pitchbook is likely to be a pleasant surprise relative to expectations. For YTD through Q3, 3,400 private funds closed globally, putting the private capital raised 14% below the year-earlier total. Focusing on PE, capital raised in Q3 was the highest to date in 2023, with $5-billion plus funds representing 47% of the total raised. Secondaries fundraising in just the first three quarters surpassed yearly totals going back to 2020.

The full report is available here.