In the 2023 Private Equity Outlook, we focus on the impact of a “higher rate for longer” scenario on the asset class. We also examine how the rising-rate environment has affected private markets so far.
The outlook also addresses:
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- Private Equity deal activity has slowed in the face of higher debt costs and bid-ask spreads
- Start ups with unsustainable growth may find difficulty in raising capital
- Direct lending continues to drive investor interest due to rising base rates and incumbent lender pullback
- Downward pressures on earnings and increases in economic stress may widen deal funnels for value investors who can execute on complexity
- GP-led secondary supply has increased amidst liquidity needs and unfavorable dynamics for exits.
