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Fundraising
While LP behaviour was heavily influenced by allocation limits this year, there are reasons for GPs to remain optimistic heading into 2023.
Apollo, Blackstone, now Carlyle Group… a confluence of events is leading to a tough year ahead for capital raising.
The SEC's proposed private funds reforms are also 'influencing' the market, especially around prohibited activities and GP-led deals, says Paul, Weiss partner Marco Masotti.
As economic and geopolitical concerns permeate, GPs are arming themselves against fundraising uncertainty.
GPs are leaving funds in market for longer as public market volatility disrupts investors’ annual commitment pacing.
A liquidity squeeze and ever-larger fundraises from established rivals have created a difficult environment for emerging managers, but optimism remains.
In the early 2000s, private equity was a niche industry backed by a small group of institutional investors. Roll on two decades and the picture couldn’t be more different, writes Nicholas Neveling.
21 Changemakers: from the partners of Petershill to Dave Swensen, formerly of Yale University.
Fund sizes, LP communications and investor appetite for particular structures are all markedly different from the heady days of pre-crisis fundraising.
The growth and diversification of private equity’s investor base has required GPs to take an increasingly sophisticated approach to securing capital, say MVision’s Mounir Guen and Hussein Khalifa.