First-Time Funds Expect Fundraising Bonanza to Continue

Many investment professionals are stepping out to raise their own funds. There are more first-time funds than ever seeking capital in Europe, according to data provider Preqin Ltd., which started tracking them in 2010. As of Jan. 1, there were 149 such European newcomers looking to raise €106.5 billion, up from last year’s €104.2 billion target among 104 funds.