The 10 largest private equity funds have raised more than $110bn (€88bn) between them in the past year and have more than doubled the $54bn firepower at their disposal compared with the previous fundraising cycle.

The latest fund from the Blackstone Group, which set a record last week when it closed at $15.6bn, and the imminent closure of a $15.5bn fund from Kohlberg Kravis Roberts, have capped a remarkable few months for buyout funds. According to analysis by Financial News, six out of the 10 largest funds have closed this year, raising a combined $79bn, and $60bn has been raised in the past three months by just four funds.