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The Wall Street Journal set the stage well for the second-quarter private money manager earnings season with its “Buyout Firms Court Fresh Money” article published on July 19. While the fundraising numbers were beaten in the first half of 2022, the number of funds in the market and the overall fundraising targets in the pipeline represent a remarkable increase compared to last year. The story touches on a number of key themes at the moment, including:
- Fundraising times are getting longer after a period in which the time between successor funds had been significantly shortened.
- Between managers, a story of haves and have-nots is playing out as LPs race to commit to top sponsor flagship funds while adopting a wait-and-see approach in the broader market.
- High net worth growth strategies have taken on increased importance as one of the best ideas for long-term growth in assets under management.
- Capital returns to investors have slowed, which could weigh on future fundraising.
Read it WSJ story here. (Also appeared in the July 19, 2022 print edition with the title above.) Let us know what you think here.
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