Private Equity Leaders Survey

State of the Market

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* 1. Are you raising a fund now?

Yes

No but we plan to start raising later in 2021

No and we have no plans to start raising in 2021

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* 2. How does your current or planned fund compare to previous iterations?

Larger

Smaller

Same size

N/A

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* 3. Does your firm plan to launch a fund with a different strategy to your firm’s heritage? If so, which strategy?

Real Estate

Private debt

Infrastructure

Venture Capital

Natural Resources

None

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* 4. In the next 12 months, we expect overall private markets fundraising will:

increase versus the last 12 months

decrease versus the last 12 months

stay broadly the same

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* 5. Which three economic and political factors will have the most impact on private markets over the next 12 months?

Climate change

US-China relations

Incoming Biden Presidency

Brexit

Commodity price volatility

Stock market volatility

Interest rates

Debt levels

Inflation

Cryptocurrency development

Other (please specify)

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* 6. How positive do you feel about the operating environment for private equity in your region in the next 12 months?

	Very positive	Positive	Neutral	Negative	Very negative
versus the last 12 months	versus the last 12 months Very positive	versus the last 12 months Positive	versus the last 12 months Neutral	versus the last 12 months Negative	versus the last 12 months Very negative
versus public markets	versus public markets Very positive	versus public markets Positive	versus public markets Neutral	versus public markets Negative	versus public markets Very negative

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* 7. How do you expect your funds to perform over the next 12 months versus the last year?

Better

About the same

Worse

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* 8. How do you think your investor base will change over the next five years by investor type as a proportion?

	Grow	Stay the same	Shrink	N/A
Institutions	Institutions Grow	Institutions Stay the same	Institutions Shrink	Institutions N/A
Private Wealth	Private Wealth Grow	Private Wealth Stay the same	Private Wealth Shrink	Private Wealth N/A
Fund of Funds	Fund of Funds Grow	Fund of Funds Stay the same	Fund of Funds Shrink	Fund of Funds N/A
Retail Investors	Retail Investors Grow	Retail Investors Stay the same	Retail Investors Shrink	Retail Investors N/A

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* 9. How do you think your investor base will change over the next five years by geography as a proportion?

	Grow	Stay the same	Shrink	N/A
North America	North America Grow	North America Stay the same	North America Shrink	North America N/A
Western Europe	Western Europe Grow	Western Europe Stay the same	Western Europe Shrink	Western Europe N/A
Central and Eastern Europe	Central and Eastern Europe Grow	Central and Eastern Europe Stay the same	Central and Eastern Europe Shrink	Central and Eastern Europe N/A
Africa	Africa Grow	Africa Stay the same	Africa Shrink	Africa N/A
Middle East	Middle East Grow	Middle East Stay the same	Middle East Shrink	Middle East N/A
Asia	Asia Grow	Asia Stay the same	Asia Shrink	Asia N/A
Latin America	Latin America Grow	Latin America Stay the same	Latin America Shrink	Latin America N/A