46% GP-led secondaries Almost half of respondents are utilizing GP-led secondaries or continuation vehicles (CVs) to facilitate DPI for existing LPs and mitigate potential fundraising challenges in the absence of traditional asset selloffs – almost double the number of respondents than in last year’s survey. 47% Antitrust issues
77% GP-stake divestitures More than three-quarters of survey participants plan to make a GP-stake divestiture in the next 24 months – double the proportion that had these plans a year ago.
73% Democratization of PE Almost three-quarters of respondents expect at least 10% of their next fund to come from retail investors.
Nearly half of survey participants expect a negative impact from the “politicization” of merger control enforcement. 57% Private credit
36% Fund finance Just over one-third of respondents expect fund finance to increase in the next 12-18 months. One year ago, only 2% anticipated an increase.
Over half of GPs are using private credit for refinancing and recaps at the portfolio level, making it the most common use case among respondents.
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