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B. G., Opalesque Geneva:

The results from Franklin Templeton's Global Investment Management Survey (mid-year 2024) indicate that alternative managers are bullish on private equity, specifically in the secondary space, as well as private credit because traditional lenders have pulled back.

Secondaries continue to look attractive given the stalled exits in private equity, and the need for liquidity by institutions, the report says. Secondary funds can provide diversified exposure across vintage, geography and industry. Secondary funds, commonly referred to as secondaries or continuation transactions, purchase existing interests or assets from primary private equity fund investors.

The participants also believe that seasoned private credit managers can help fill the void created by traditional lenders and capitalize on potential challenges across the asset class.

According to private bank Morgan Stanley, private credit, which can offer floating interest rates that increase in tandem with benchmark rates, has seen significant growth in recent years. The size of the private credit market at the start of 2024 was approximately $1.5tln,......................

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