European private funds had a banner year in 2016, with fundraising up 35% from 2015 to $131.48 billion, and the number of fund closings up by 37 to 283 funds.

“Despite all the noise and worries about Brexit and Italian banks and future of the eurozone, people are voting with their wallets that PE has done and will continue to do well in Europe,” said Hugh MacArthur, who leads the private-equity practice at Bain & Company.