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Laxman Pai, Opalesque Asia: From the second half of 2022 through to the end of May 2023, North America-based fund managers raised $749.7bn, just under half (49%) of the $1.53tn total private capital (excluding hedge funds) raised globally, said a study.
"This was despite overall slower fundraising and deal-making support for private debt and private equity, excluding venture capital (VC), in 2023 so far," the study pointed out.
According to Preqin Alternatives in North America report, the fifth annual report examines the current state of the private capital industry in the region, looking at the US and Canada, and how it has fared in the past year, North America remains the dominant region in alternative assets as AUM to outpace slower market.
North America is expected to remain the dominant region in alternative assets, both in terms of assets based in the region and fundraising, the report added.
Meanwhile, the fundraising environment in North America is becoming a case of haves and have-nots as target allocations among pension plans appear to be moving at different paces. For example, the average target allocation for North America-based pension plans in the top quartile, by AUM, for private equity was 13%, while those in the bottom quartile showed an average allocation of 7%, according to 2022 plan-year data.
Looking forward, Preqin analysts project global alternative assets to grow at an annual rate of 11.9% between 2021 and 2027 to $18.3tn. North Ameri...................... To view our full article Click here
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