Manager strategy

Year-on-year growth is back on track after last year’s fundraising flatline, though the nature of this growth has shifted.

LPs are showing increased interest in specialised mid-market strategies – a fact that is reflected in this year’s PEI 300.

This year’s PEI 300 ranking welcomes 35 new firms, with some old names struggling to maintain their historic highs.

Evergreen funds account for about 5% of private markets NAV today, a figure that is expected to grow in the long term.

The number of regional firms continued to slide in the latest ranking, albeit at a slower rate than in prior years.

Mega-funds, market bifurcation and a resurgent investor base are reshaping the continent’s private equity landscape.

Factors such as fund structuring flexibility and reporting excellence are becoming more important for LPs when selecting GPs, says Edouard Eloy of BNP Paribas’ Securities Services business.

While recent AI disruption is yet to infiltrate the PEI 300 ranking, tech-focused managers must be sure to future-proof their operations.

The $1.15trn sovereign wealth fund is also centralising data using AI across its private equity portfolio amid persistent geopolitical instability, said operating partner Jose De Ochoa at a PEI conference.