And the winners are...
The top-ranking firms in the 2023 PEI Awards are a case study in how to successfully navigate a difficult market.
After 2022 proved to be a challenging year for private equity fundraising, many market participants hoped 2023 might be a bit kinder. For the most part, they were left disappointed.
Fundraising fell for the second year in a row, declining 4.6 percent year-on-year to $784.9 billion, according to Private Equity International’s FY 2023 Fundraising Report . The number of final closes held also dropped to its lowest level in six years.
Overallocation to the asset class, caused by the ongoing denominator effect, was a major driver behind this drop: according to PEI’s Investor Report 2023 , 48 percent of institutions were overallocated to private equity at the end of 2023.
Luckily, the industry has largely mastered the art of navigating tricky conditions. A long-term investment outlook can work wonders when it comes to overcoming macro challenges; this is something our PEI Awards winners , in particular, will understand...
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