Preqin reported that fund managers raised $757bn in 2018, which is an almost 20% decrease from the amount raised in 2017 (when a record $925bn was raised). Whilst the extent in the downturn was unexpected, a decrease was generally anticipated by many commentators in the market due to a number of factors, including the fewer number of funds being raised, geopolitical uncertainty, and a general cool-down of the economy and the levels of dry powder prevalent in the market.
On December 21, 2018, a partial shutdown of the United States federal government commenced because Congressional lawmakers had not passed full-year appropriations bills or continuing resolutions extending current funding levels.
PEI highlighted this week the response from subscription lenders to the Abraaj Group dispute, particularly with regard the notice of security filing. (Full article available by subscription here).
