Hellman & Friedman

The firm also closed a large secondary deal that raised about $2.1bn, which the firm combines to consider a total fundraising of more than $24bn, sources told affiliate title Buyouts.

The US public pension fund made $10m commitments to both Hellman & Friedman Capital Partners XI and CVC Capital Partners IX.

PEI maps performance by internal rate of return and multiple on invested capital across the firm's private equity funds.

During a recession, private equity mega-funds deliver returns similar to those of their peers and with less selection risk for investors.

This year’s top-ranked GP defied concerns over LP allocations, inflation and macroeconomic uncertainty to gather 53% more than the second-place firm.

Inflation and rising interest rates, as well as the uncertainty surrounding the Ukraine conflict, could cause a turn of fortunes in the industry, says Bain’s EVP of private equity.

The 10 largest funds to have closed in the first three quarters of 2021 amassed $143bn between them, $40bn more than in the equivalent period last year.

Our crystal ball told us that dealmaking would rebound in 2021, but we didn’t expect the first half to be so big.