Limited Partners

While LP behaviour was heavily influenced by allocation limits this year, there are reasons for GPs to remain optimistic heading into 2023.

In this second episode of our miniseries Private Markets and the End of Cheap Money, we talk to LPs about allocation shifts, impacts on fundraising and what investors are looking for out of their GPs as rates rise.

'It’s pretty hard to find private assets without fake marks in this environment,' says one source in the secondaries market.

Only 27% of LPs plan to increase their allocations to private equity over the next 12 months, down from 42% six months ago, according to Coller Capital’s latest barometer.

The LP representative group has opted for continuity after the post became vacant in June.

Three long-time members of the judging panel share their views on the key elements that contribute to operational excellence today and what those elements might look like tomorrow.

European private equity has a long history of outperformance in challenging environments. Despite the current geopolitical and macroeconomic tumult, LPs should be prepared to maintain the momentum of their investment programmes.

Fund sizes, LP communications and investor appetite for particular structures are all markedly different from the heady days of pre-crisis fundraising.

It’s crucial for investors not to skimp on due diligence – no matter the lack of resources and time – to fully understand any risks to which they are about to expose themselves.

Defined contribution schemes in the UK are forecast to grow to more than £1trn in assets by 2030.