Venture Capital
Private Debt
Infrastructure
Natural Resources
Real Estate
Private Equity
Private Equity
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Venture Capital
Real Estate
Hedge Funds
Infrastructure
Natural Resources
Consistently strong returns, which enjoyed an abnormally large boost in 2021 and have beaten both the S&P 500 TR Index and MSCI World TR Index over the longer term, are just one factor behind the continued growth of private equity. Preqin forecasts that AUM will exceed $11.12tn by 2026, up from an estimated $5.3tn at the end of 2021. This represents a 15.9% CAGR between 2021 and 2026, which is slightly faster than the growth rate between 2015 to 2020 and well above the long-term trend.
Hedge Funds
Private Debt
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Venture capital had a record year in 2021, with total capital invested by fund managers reaching $476bn, and performance breaking records. Exits also soared to $410bn. A growing asset class, venture capital has proven to be a vital component of institutional investor portfolios, with an attractive risk/return profile and high upside – as evidenced by short-term returns in particular.
Find out what’s driving these trends and what else you need to know by reading the full report with
2021 proved to be another holding year for the real estate asset class, with weak fundraising and deal values below the long-term average. But the outlook is improving, with the value added strategy, in particular, of increasing interest to investors. This could be due to the wide range of opportunities to deploy committed capital, while delivering on ESG factors at the same time.
Find out which strategies performed best and the other factors influencing investor decisions when you access the report on
Investors rewarded the industry with an additional $41bn in 2021 (as of September) and the asset class experienced positive inflows in every quarter. This was on top of the $19bn that investors added to hedge funds in the second half of 2020. This reignited interest was sparked by hedge funds’ strong performance in 2020 and 2021, protecting investors against pullbacks when volatility picked up.
Explore how government initiatives and sustainability play a role in the evolution of private infrastructure in the full report on
Infrastructure performance has remained resilient, posting a 13.9% IRR in the one year to March 2021,
making up lost ground from the pandemic. Infrastructure has proved its investment thesis amid the economic upheaval. The spread of AUM across the risk spectrum continues, with value added emerging as the dominant strategy by AUM, surpassing core or core-plus for the
first time in 2021. This suggests investors are increasingly comfortable exploring the asset class; 35% of investors suggest value-added funds present the best opportunities in the next 12 months.
Discover the surprising consequences of the pandemic on private debt markets around the world by accessing the full report on
Distressed debt AUM grew from $200bn in 2019
to $262bn in 2020, as COVID-19 sparked memories
of the 2008 Global Financial Crisis (GFC). Investors
and fund managers provided large allocations based
on the GFC’s indicators of how a global downturn could be managed. As Mark Twain said, “history never repeats itself, but it does often rhyme.” The lessons learned from the GFC did come into play with COVID-19, but not in the ways most lenders expected.
Read the full report to uncover this and other key data on the industry when you get the full report on
The share of capital raised by the 50 largest funds continued to climb in 2021, diminishing the proportion secured by funds outside of the top group. While this is where we see the decline in number of funds closed,
a surprising trend has emerged when looking at the share of capital secured by the 10 largest funds. This new analysis of capital concentration may belie LPs' willingness to work with certain types of funds over others, and their evolving relationships with, and trust in, mega funds.
MSCI World TR Index
S&P 500 TR Index
PrEQIn Secondaries
PrEQIn Fund of Funds
PrEQIn Buyout
PrEQIn Private Equity
30-Dec-20
30-Jun-20
31-Dec-19
30-Jun-19
31-Dec-18
30-Jun-18
31-Dec-17
30-Jun-17
31-Dec-16
30-Jun-16
31-Dec-15
30-Jun-15
31-Dec-14
30-Jun-14
31-Dec-13
30-Jun-13
31-Dec-12
30-Jun-12
31-Dec-11
30-Jun-11
31-Dec-10
30-Jun-10
31-Dec-09
30-Jun-09
31-Dec-08
30-Jun-08
31-Dec-07
450
400
350
250
200
150
100
50
0
2021
YTD
2018
2017
2016
2015
2014
2013
2012
2011
2010
40%
35%
30%
25%
20%
15%
10%
5%
0
Value Added Share of Real Estate Fundraising (Aggregate Capital Raised)
2020
2019
38.7%
31.5%
23.3%
30.5%
27.6%
27.7%
25.2%
25.6%
24.8%
22.8%
15.8%
18.3%
Q4 2020
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1
2019
Q4 2018
Q3 2018
Q2 2018
Q1
2018
7.5
17.0
-15.6
-47.7
-15.4
-34.4
-25.3
-22.1
-45.1
-4.6
-1.2
16.9
25
15
5
-5
-15
-25
-35
-45
-55
-
Quarterly Hedge Fund Asset Flows ($bn), Q1 2018 - Q3 2021
Q1
2021
Q2 2021
Q3 2021
1.8
10.9
22.5
Natural Resources
Infrastructure
Real Estate
Private Debt
Venture Capital
Private Equity
60%
50%
40%
30%
20%
10%
0%
-10%
1 Year to Mar-21
1 Year to Dec-17
1 Year to Dec-16
1 Year to Dec-15
1 Year to Dec-14
1 Year to Dec-13
1 Year to Dec-12
2021
YTD
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Annual Global Venture Capital-Backed Deals*, 2006 - 2021 YTD
2021
YTD
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Proportion of Aggregate Capital Raised by the Largest Unlisted Natural Resources Funds, 2011 - 2021 YTD
21-50
11-20
Top 10
21-50
500
400
300
200
100
0
2009
2008
2007
2006
Aggregate Deal Value ($bn)
No. of Deals
*Figures exclude add-ons, grants, mergers, secondary stock purchase, and venture debt
Dry Powder ($bn)
Unrealized Value ($bn)
Mar-21
Dec-15
Dec-14
Dec-13
Dec-12
Dec-11
Dec-10
Dec-09
Dec-08
Dec-07
Dec-06
Dec-05
Dec-04
Dec-03
Dec-02
Dec-01
300
250
200
150
100
50
0
Distressed Debt Assets under Management, 2001 - 2021
Dec-16
Dec-17
Dec-18
Dec-19
Dec-20
1 Year to Dec-20
1 Year to Dec-19
1 Year to Dec-18
Private Capital: Rolling One-Year Horizon IRRs by Asset Class
PrEQIn Index: Private Equity Strategies vs. Public Markets
25,000
20,000
15,000
10,000
5,000
0
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Insights+.
Insights+.
Insights+.
Insights+.
Insights+.
Insights+.
Insights+.