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Bailey McCann, Opalesque New York: Private equity dealflow might be improving, according to first quarter data from PitchBook. There were 46 announced or closed deals by May 1, a 58.2% increase from the same period last year. Fundraising has also improved. Private
credit fundraising garnered a whopping 69.8% of total inflows
in Q1 2024, PitchBook said.
Private equity fundraising has spread
to the wealth channel with a number of notable retail-oriented
funds. Total fundraising across all strategies was up 34.1%, led
by a 72.1% gain in private credit, according to PitchBook's first quarter report. PitchBook estimates that 47.8% of all credit fundraising in 2023 was from
the wealth and insurance channels. Perpetual vehicles with
no end dates, such as semiliquid funds for retail investors or
separately managed accounts (SMAs) for insurance investors,
now account for 39.6% of total AUM after growing 17.5% year over year.
Private equity performance still trails public markets, but PitchBook analysts say that the picture improves if you look out 10-15 years based on the life cycles of current funds. Private credit returns are significantly higher than private equity returns over almost every time horizon The top seven US-listed alternative
managers with credit strategies posted a median quarterly and TTM return of 3.9% and 17.2%, respectively, for the
period ended Q1 2024, according to PitchBook data.
Despite these positive data points, there are some indications ...................... To view our full article Click here
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