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Alternative Market Briefing

Other Voices: Investor communications: Private Equity's information gap

Tuesday, October 31, 2017

By Ian Kelly, Chief Executive Officer, Augentius

Enthusiasm for private equity as an asset class continues to rise in a time of opportunity for fund managers - Prequin data shows the number of private equity funds in the market continued to grow in Q3 2017, with a 10 percent rise in the number of funds raising capital since the start of the year. And this enthusiasm can be easily explained. The macroeconomic environment continues to be characterised by volatility and a paucity of yield when it comes to more traditional asset classes. Not only does private equity allow institutional investors to invest in 'real' assets that they can see and understand, it also clearly delivers better returns than other asset classes over the long term. It offers pension funds an attractive alternative at a time when they are under pressure to generate increased returns for members.

The transparency problem

However, the good news comes alongside a growing challenge for the industry in terms of how fund managers (GPs) communicate with their investors (LPs). LPs' lives are becoming more complex for a host of reasons as they face increased demands from their own investors and members, as well as - of course - regulators. Post-2008, we live in an era where transparency is the watchword: everyone wants more data, more granular information, and to know precisely what's going on.

Alongside this, regulatory transparency has exposed issues relating to fees and expenses charged by......................

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