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Our second annual IPEM Allocation and Fundraising Trend Report analyses a snapshot of the investment strategies, trending sectors, and key strengths desired – and offered – by investors and funds last year, overlaying insights from our inaugural study last year.

These findings are based on data from over 2,000 LPs and GPs in IPEM’s network ahead of the industry convening in Paris in September 2024. They deliver insight into how LPs are appraising their investment options, looking to uncover the right opportunities in a complex and often crowded market – and what GPs can do to sharpen their strategies to target the right investment partners.

Visit the IPEM website to download the full report, or find out more about our knowledge partnership with IPEM.

Key findings from the report:

  • We see a market that may have relaxed somewhat since our previous study, with greater liquidity, more exits, and more completed deals apparent than in the previous 12 months. 
  • Strategically, the dominant investment focus remains directed at Private Equity. This translates to signs of diversification within Private Debt and Real Assets and, within these asset classes, more notable moves towards Special Situations and Fund of Funds verticals. 
  • Within Private Equity, Turnaround and Restructuring has seen an uptick in investment intention from LPs, perhaps in line with the well-documented financing headwinds and approaching wave of debt maturities on the horizon.
  • A higher percentage of GPs are fundraising at this moment. A third of fundraising GPs have already indicated a first close in the previous calendar year – close to double that of last year’s data – suggesting that fundraising is taking longer. 
  • Re-ups are back in favour in Private Equity and Private Debt, after the highlighted quest for all-new GP activity in our last report. 

As with any market movement amongst LPs, the GP winners that emerge will be those that can proactively respond to sharpen their strategies and clearly articulate the differentiating criteria that align with their prospective LP partners.

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