Fund Managers Struggling To Reach 1st Close: Report

Law360, New York (May 17, 2013, 6:48 PM EDT) -- Fund managers are having a harder time raising the bulk of their target capital before they hold an initial close than at any time in the past six years, a sign of the continuing capital-raising difficulties faced by private funds, according to a study released Thursday.

Of the funds that held a final closing in 2012, just 12 percent secured at least 75 percent of their target capital by the time they reached a first close, well down from 33 percent of funds that closed in...
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