Singapore: This material is disseminated by Morgan Stanley Investment Management Company and should not be considered to be the subject of an invitation for subscription or purchase, whether directly or indirectly, to the public or any member of the public in Singapore other than (i) to an institutional investor under section 304 of the Securities and Futures Act, Chapter 289 of Singapore ("SFA"); (ii) to a "relevant person" (which includes an accredited investor) pursuant to section 305 of the SFA, and such distribution is in accordance with the conditions specified in section 305 of the SFA; or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. More than half of respondents (58%) highlighted it as the top risk factor to their portfolio. 9 Source: AVCJ, data as of September 30, 2022. Like PE deal making, first-half real estate deal making continued close to the record-setting pace of the second half of 2021, but second-half volumes declined precipitously. As in 2020, when private debt was the only private asset class that recorded fundraising growth, investors ability to allocate to one or another strategy based on the prevailing market environment has contributed to consistent top-line growth through business cycles (Exhibit 7). *I have read thePrivacy Policyand agree to its terms. Add-on deals, which tend to be smaller, continued to gain share as a percentage of total deals. IT and Healthcare sectors will continue to be in high demand, with ESG considerations taking an increasingly central role in the investment decision process and beyond. AUM has now grown at an annual rate of nearly 20 percent since 2017. Tech-focused buyout funds performed worse than other buyout funds for the second consecutive year, and venture capital (VC) underperformed buyout strategies for the first time since 2017. Bookmark content that interests you and it will be saved here for you to read or share later. The adoption of technology within China over the past two decades is a good example. This progress is a result of many factors. Sponsored by. In particular, megafunds gained prominence: 11 funds of more than $10 billion each were raised, totaling $170 billion collectively (Exhibit 4). Deal volumes declined 27 percent as financing became more expensive and harder to access. Registered No. Outside the US and EU, Eaton Vance materials are issued by Eaton Vance Management (International) Limited ("EVMI") 125 Old Broad Street, London, EC2N 1AR, UK, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority. In closed-end funds, AUM reached a new peak, as it has every year since 2016, and managers raised the second-highest total on record, led by commitments to opportunistic vehicles. The 2022 Global Private Equity Report: Market Overview - Bain (As of 20/01/2022). Eine zeitgerechte Analyse markt-verndernder Ereignisse und deren Wirkung auf das Anlageumfeld. PDF Private Equity Market Update - CAIA Insights Blog: Five Findings from COP27 with Vikram Raju. AUM grew as well, reaching a new high of $1.3 trillion, 14.2 percent higher than in 2021. For example, recent McKinsey research found that publicly traded ESG outperformers that also outperformed peers on margin and growth delivered 200 basis points in excess return to their shareholders over companies that only outperformed financially.6McKinsey research to be published. European investors appear to have the most confidence about the industrys outlook, with 98% predicting that deal-making activity will either improve or remain the same. Counterintuitively, manager selection mattered less in 2022 than in years past: the interquartile spread of returns of PE funds narrowed in 2022 to 21.6 percent from the prior ten-year average of 33.8 percent. In unserem monatlichen Global Equity Observer finden Sie unsere Gedanken zu weltweiten Ereignissen aus Sicht unseres qualitativ hochwertigen Anlageprozesses. Geopolitical risks, currency risks, and exits/liquidity are important considerations for investors contemplating an allocation to Asian private equity, and adequately addressing these risks are undoubtedly key to achieving positive performance in Asian markets. MSIM announced today that it has held the final close of Ashbridge Transformational Secondaries Fund II (Ashbridge II) at $2.5 billion of total capital commitments. Registered in England. Yet, high-quality assets in segments where there is perceived scarcity value can often achieve premium valuations at exit. Calvert Research and Management is exempt from the requirement to hold an Australian financial services licence in accordance with class order 03/1100 in respect of the provision of financial services to wholesale clients in Australia. On the surface, historical private equity (PE) performance in Asia has been shown to be on par with performance numbers generated in other regions. Private debt was not immune to the macroeconomic conditions last year, however. Natural resources strategies, meanwhile, generated relatively strong performance for a second consecutive year, buoyed by elevated commodity prices. More private markets managers are incorporating considerations for ESG factors into their corporate policies, operating procedures, and investment decisions. On average, 56% of respondents believe deal activity will improve in the next 12 months. There are also pockets where capital supply/demand dynamics remain reasonable, resulting in attractive entry valuationse.g., in Thailand, there is a paucity of PE managers facilitating investment opportunities in high quality, growing companies. All forecasts are speculative, subject to change at any time and may not come to pass due to economic and market conditions. Healthcare follows IT as the second top industry, up to 47% from 43% in 2021, attracting more investors as the sectorcontinues to offer opportunities, especially in the Healthcare Technology industry. Morgan Stanley Investment Managements 1GT Co-Leads $50 Million Funding for Everstream Analytics. Subscribe to Bain Insights, our monthly look at the critical issues facing global businesses. Ein monatlicher Ausblick fr die globalen Anleihemrkte einschlielich tiefgehender Analysen wichtiger Sektoren. Both sectors attractiveness has increased from last year (30% and 26% respectively). Registered Office: Beethovenstrasse 33, 8002 Zurich, Switzerland. research Further, there is a local-global arbitrage opportunityidentifying a company at a well-priced local market entry valuation, repositioning the company for global markets, and exiting at a premium valuation commensurate with a global company. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. Sustainability-related deals (the "E") increased by 7 percent to nearly $200 billion, proving resistant to the deal-making headwinds that affected other asset classes.

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