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Alternative Market Briefing

Institutional investors are growing concerned about a slowdown in 2020

Friday, October 18, 2019

Bailey McCann, Opalesque New York:

Institutional investors are beginning to show signs of worry about the economy heading into 2020, according to a new survey from placement agent Eaton Partners. The quarterly "Eaton Partners LP Pulse Survey" questioned more than 60 leading LPs, many of whom expressed at least some level of concern about geopolitical and economic factors that could hinder investment strategies.

Approximately seven in ten (69%) respondents note they are taking a more defensive approach to guard against a potential macroeconomic slowdown. Exactly half believe signs are pointing to a recession sometime in 2020 up from 44% who felt this way in the July 2019 survey. 45% of respondents expect that the Federal Reserve will cut rates one more time before the end of the year.

"Investors are sensing more headwinds in the market be that the trade war, Brexit, or slower growth and they are beginning to back that up with action," says Jeff Eaton, partner at Eaton Partners in an interview with Opalesque. "We're starting to see investors ask more questions, slow down a bit in terms of the pace of their investing, and they're writing slightly smaller tickets than they have in the past."

Eaton adds that even if portfolio performance hasn't been impacted directly, macroeconomic concerns and valuations are giving investors more reasons to say no than to say yes to new investments. "There are a lot of smart people looking at the WeWork situation, f......................

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