Funds Forecast: Challenges and Opportunities in 2024

Following very strong global fundraising in the private markets sector during 2021 and 2022, last year proved to be one of the harder global fundraising environments since the global financial crisis. Geopolitical uncertainties, higher interest rates, inflationary pressures and valuation uncertainty fed into less fundraising and less deal activity. Many large institutional investors also re-weighted down their private capital investment portfolios resulting in a rise in discounted secondary transactions, particularly in US markets.