In this week’s newsletter, Paul Bryant reports on some of the reasons behind a drop in Europe’s IPO market, which has seen deal values fall from EUR26 billion in 2015 to EUR8 billion in 2018.
A new report by eVestment finds that real assets under administration have grown 20 per cent year-on-year as more GPs appoint third party administrators, while in other news, research by MJ Hudson suggests that the 8 per cent hurdle rate is no longer sacrosanct. The law firm notes that 23 per cent of GPs have chosen, at least initially, to drop it completely.
On the fundraising side, Warburg Pincus has closed its USD4.25 billion China-Southeast Asia II Fund, exceeding its initial target close of USD3.5 billion, while US managers remain light years ahead in terms of AUM growth. TMF Group estimates that of the top 300 global PE managers managing USD1.5 trillion in assets, US-based managers account for USD1 trillion.
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James Williams,
Editor-in-Chief, Private Equity Wire
