Private equity fundraising, driven by the so-called megafunds which have each raised more than $5bn (€4.2bn), is set to hit a record $250bn this year, according to research firm Private Equity Intelligence. The previous best was $242bn in 2000.

At November 21, PEI had recorded the closing of 329 new funds raising $201bn, but estimates that once all the statistics come in the total could rise to $220bn.