What does the 2026 audited private fund issuance data show?

• A record level of new audited fund formation is stated directly: 12,154 new private funds subject to audit were formed in 2026.‍
• A record level of capital raised is stated directly: These new audited funds raised $3.1 trillion in total.
• Both figures are described with year-over-year growth rates: New audited fund count grew 40% year over year, while capital raised grew 19% year over year.
• The piece frames this as a continuing record-setting trend: The piece states "2026 continues to set records in the private fund market," though it does not specify whether this refers to a single month or a longer period, unlike the related Fund Administration client piece which specified July 2026 directly.

How do Convergence's Top 25 fund audit clients compare to non-clients in capturing this new issuance?

• Client fund-count share is stated directly: Top 25 Convergence fund audit clients won 63% of new audited funds from this issuance.
• Client asset-count share is stated directly: Top 25 Convergence fund audit clients won 64% of new assets from this issuance.
• Non-client comparison figures are stated directly: Non-clients won 27% of new funds and 23% of new assets over the same period.
• The gap is substantial across both measures: Client fund share (63%) is more than double non-client fund share (27%), and client asset share (64%) is nearly triple non-client asset share (23%).
• This gap differs proportionally from the comparable gap in Convergence's Fund Administration client piece: The Fund Administration piece showed a roughly 4x client-to-non-client fund share gap (47% vs. 12%) and a roughly 2x asset share gap (55% vs. 25%); this Fund Audit piece shows a smaller fund-share multiple (about 2.3x), though the two pieces are not directly comparable without confirming they cover the same time period.

What reasons does the piece give for why Convergence fund audit clients outperform non-clients?

• Three specific reasons are named directly, identical in wording to the related Fund Administration client piece: Clients "leverage our forward looking business intelligence," "connect with prospects and clients early using real events that matter," and "integrate our data and BI into their CRMs."
• The shared wording suggests a common underlying value proposition across Convergence's fund administration and fund audit client offerings: Both pieces attribute client outperformance to the same three mechanisms, indicating this may be a consistent cross-practice positioning rather than an audit-specific argument.