| |
| In today's Daily Pitch, you'll find: | | | | | |
| |
| |
| |  | | (Marco Bottigelli/Getty Images) | | | Private market funds dedicated to high-net-worth individuals could crowd investors out of co-investment opportunities, industry players warn.
These semi-liquid vehicles, like Blackstone's $1.3 billion fund for wealthy individuals, open up a novel and expansive pool of capital for GPs, capital that could be used to finance deals without additional third-party dollars. | | | | | | | | | Private markets hot streak cooled—but growth remains | | Real estate and funds-of-funds were the only private market asset classes to show improvement in their quarterly returns in Q3. Real assets halted a positive streak to turn negative. Altogether, industry performance dropped back to 2022 levels of slight growth.
Our latest Private Capital Indexes report, now with data as of Q3 2023, charts out returns across seven private market asset classes and 13 subcategories, including adjusted metrics for use in risk measurement. | | | | | | | |
| |
| A message from McDermott Will & Emery | | |
| Connect with top healthcare dealmakers on South Beach | | Take your business to the beach this March at HPE Miami 2024. This two-day event brings together investors, founders, bankers and top-tier deal lawyers for unparalleled networking and insightful programming.
Break out your sandals and make new connections in a relaxing conference environment. Don't take McDermott's word for it, hear why attendees keep returning:
"The venue really lends itself to organic networking, which you don't often get at these types of conferences."
"McDermott conferences are amazing. They do the best job of getting the right people in the room and making connections."
Reserve your spot today | | | | | | | |
| |
| Q&A: A booming alternative for startups seeking funding | |  | Capchase CEO Miguel Fernandez
(Piaras Ó Mídheach/Getty Images) | | | Non-dilutive financing has become significantly more popular with startups in recent years.
We spoke to Capchase CEO Miguel Fernandez about how a more challenging VC market has created rising demand for this form of alternative funding, and about what's ahead in 2024. | | | | | | | | | Social, economic trends fuel enterprise fintech's payroll innovation | | Enterprise fintech is on a roll: It's eating up more VC dollars than its retail fintech counterpart. In Q4, deal value was up 19.6%, reaching $4.7 billion across 304 deals.
According to PitchBook's latest Emerging Tech Research, new innovations within payroll technology may be the next big thing in fintech. The report dives into the startups and key trends within the enterprise fintech space while touching on what new regulations may mean for the future. | | | | | | | | | Why secondary buyers prefer mid-market continuation funds | |  | | (FabrikaCr/Getty Images) | | | | Not all investors believe bigger is better, especially those shopping for continuation funds. And they found a sweet spot in middle-market vehicles. Continuation funds below $1 billion in size benefit from the versatility of exit mechanisms for smaller assets and offer a lighter lift for secondary buyers. | | | | | | | |
| |
| |
| | Since yesterday, the PitchBook Platform added: | | 659 Deals | 2697 People | 885 Companies | 27 Funds | | | | | | |
| |
The Daily Benchmark:
2020 Vintage North American Secondaries Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| HIG Capital has established a resort hotel platform after combining hotel assets in its portfolio. Ella Hotels & Resorts comprises 13 hotels in Greece and plans to expand farther in Southern Europe. | | | | | |
| |
| |
| |
| |
| |
Texas-based PE firm Trinity Hunt Partners closed its Fund VII on $700 million.
Encore Consumer Capital closed its Fund IV on $258 million.
London-based early-stage investor Episode 1 closed its third fund on £76 million. The vehicle will make up to 15 investments a year, primarily targeting UK startups. | | | | | |
| |
| |
"While the macroeconomic environment appears to have stabilized somewhat in late 2023 and early 2024, one or two quarters of stronger quarterly returns should not be considered a harbinger of recovery for real estate performance. With the prevailing narrative around real estate focusing on pockets of opportunity in noncore sectors, the subtext is that challenges are expected to persist for office, and to a lesser extent, portions of the multifamily, logistics, and retail sectors, in the coming year."
Source: Q2 2023 Global Fund Performance Report (with preliminary Q3 2023 data) | | | | | |
| |
No comments:
Post a Comment