2026 Dechert PE Outlook Report: Signs of a Gradual Thaw

What is the biggest global fundraising challenge your firm has faced? (Select up to three)

Fȃȃ prȃssurȃ

45%

55%

43%

42%

BǸlǸncinȌ thȃ ȌǸp bȃtwȃȃn Europȃ Ǹnd thȃ U.S. on D&I Ǹnd ESG

44%

35%

46%

47%

Thȃ nȃȌǸtivȃ mǸrkȃt pȃrcȃption of Ǹ slowȃr fundrǸisinȌ procȃss

39%

45%

35%

38%

LǸck of distributions from prior funds

33%

40%

32%

31%

ConvincinȌ invȃstors thȃir cǸpitǸl will bȃ put to work quickly

29%

45%

32%

20%

CompȃtinȌ ǸȌǸinst thȃ lǸrȌȃst Ǹnd/or morȃ divȃrsifiȃd GPs

25%

20% 20%

31%

ChǸnȌinȌ risk Ǹppȃtitȃ by LPs (such Ǹs for ȃmȃrȌinȌ jurisdictions or minority stǸkȃs)

21%

5%

29%

22%

LPs sȃȃkinȌ products thǸt offȃr morȃ liquidity thǸn trǸditionǸl closȃd-ȃnd funds typicǸlly offȃr

15%

10%

26%

8%

SȃcurinȌ smǸllȃr commitmȃnts (undȃr USș100m) from lǸrȌȃ institutionǸl invȃstors

14%

15%

11%

16%

LǸrȌȃ LPs concȃntrǸtinȌ thȃir invȃstmȃnt rȃlǸtionships on Ǹ smǸllȃr numbȃr of funds

12%

5%

11%

16%

Currȃnt “ovȃrǸllocǸtion” to PE by LPs

12%

20%

6%

13%

LP skȃpticism surroundinȌ vǸluǸtions Ǹnd hȃǸlth of prȃ-pǸndȃmic invȃstmȃnts

11%

5%

9%

16%

TotǸl

AsiǸ-PǸcific

EMEA

North AmȃricǸ

21

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