Dechert and Mergermarket 2024 PE Outlook: Navigating Fundraising and Regulatory Headwinds (Part One of Two)

In mid-2023, Mergermarket surveyed 100 senior executives in PE firms with at least $1 billion in assets under management that were not first-time fund managers. Dechert presented its findings in a report and hosted a webinar to discuss those findings, panelists’ observations and the market outlook for 2024. Moderated by Dechert partner Siew Kam Boon, the program featured her partner, Sabina Comis, as well as Bryan Jenkins, co-head of portfolio management group, Hamilton Lane; and Mukesh Sharda, managing partner, Capital Square Partners. This first article in a two-part series analyzes some of the latest developments related to environmental, social and governance investing, as well as certain fundraising and regulatory difficulties the PE industry is facing. The second article will detail factors behind the recent growth in private credit, secondary transactions, GP stakes divestitures and co‑investments, as well as the industry’s burgeoning interest in the use of artificial intelligence. For further insights from Dechert, see “What Fund Managers Should Know About the FTC’s Proposed Ban on Non‑Compete Provisions” (Jun. 1, 2023); and “SEC’s FAQ on Marketing Rule: How to Present Individual Positions and Deal With Attribution Issues (Part One of Two)” (Apr. 6, 2023).

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