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Commitments to UK funds account for between 7-10% of Access Capital Partners’ most recent fund of funds, down from as much as 25% in previous vintages.
The placement agent and advisory firm is among the first to announce a new office opening as part of its Brexit contingency plans.
European firms could be well-placed to snap up talent from their London-based peers.
Proponents of the sector are concerned restrictions on EU migration post-Brexit could have an impact on its appeal.
A key talking point with LPs was how UK firms are preparing for Brexit, managing partner Charles Ind told PEI.
Hefty funds coming to market and the potential for cheap deals after Brexit are on the minds of the continent's PE practitioners.
Mayfair Equity Partners is eyeing the final close on its second fund after around nine months of fundraising.
HarbourVest Partners Ireland Limited, which will accommodate investment managers and other functions, is awaiting approval from the Irish regulator.
Having close dialogue and being transparent are key, says Pablo de la Infiesta, fundraising rainmaker and head of the firm's private funds advisory group for EMEA.
UK private equity funds are under increased scrutiny from continental investors but US LPs seem to have fewer doubts.