2020 vision

Private markets
Key challenges


13 January, 2020


In this report, we discuss some of the “top of mind” issues in several private market sectors and geographies that we believe limited partners (LPs) should closely monitor in 2020 in order to best optimize their portfolios. 
 

What you’ll find


Private markets are facing significant uncertainty in the coming year across any number of dimensions.
 

  • In US private equity (PE), we discuss the high level of valuations and make a case that the actual valuations may be even higher than the reported ones.
  • For US venture capital, we present several factors causing the dispersion of technology companies beyond traditional technology hubs, but also caution against pure geographic plays.
  • For European private markets, we examine how Brexit and the geopolitical environment have created significant uncertainty that is unlikely to dissipate in the near term.
  • Asian PE markets face decelerating growth, unresolved and potentially deteriorating trade disputes, and rising geopolitical tensions.
  • For private debt, we discuss how to develop new private debt portfolios and how to position existing ones given the current phase of the market cycle.
  • Finally, in real estate, we examine the opportunities presented by tighter regulations and banks’ unwillingness to provide debt capital to “non-core” asset holders.

Click here to download our commentary useful in helping you position your portfolio for what is likely to be a very eventful year.

Download the Key considerations for private market investors in 2020.

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