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In 2022, GPs began taking longer to close PE funds as exit activity decreased and LPs became more capital constrained as a result. In 2024, exits rebounded strongly both in the US and in Europe, and the distributions back to LPs helped funds secure final closes sooner. The median closing time dropped to 13 months in Q1 compared with the median of 17 months it took for funds that closed in 2024. This trend may reverse again in later quarters if macroeconomic volatility creates a risk-off sentiment that slows exit activity once more.
(Past performance is no guarantee of future results.)
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Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.