How the PE industry evolved in 2024

Fundraising sweeteners, increasingly sophisticated approaches to wealth, and an improving deal outlook were among the defining themes of 2024.

By Alex Lynn

To call the past year an eventful one for private markets would be an understatement, with everything from a record number of elections to a failed regulatory overhaul in the US and a carried interest tax tweak in the UK.

These vicissitudes and tailwinds have been captured in Private Equity International’s ongoing Story of the Year series, which outline some of 2024’s defining trends and developments within the asset class.

Across this series, three overarching themes stand out as having shaped the private equity industry over the past 12 months.

Fundraising, with a catch

The fundraising landscape has remained stilted this year, with capital raised in the first three quarters dipping to a four-year low, according to PEI data. Meanwhile, languid private equity performance has dinted LP appetite for...

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