The importance of disciplined investment in Private Equity funds

Evergreen funds now represent nearly $400 billion in assets under management* worldwide. Initially considered complementary to traditional closed-end funds, they are gradually becoming established in strategic allocations, including institutional ones.

Sources: Pathway Capital 2Q25 Environment Report, Mergermarket, PitchBook Data, LSEG Data & Analytics

The first quarter of 2025 began with a marked turnaround in the global macroeconomic environment, breaking with the improvement observed at the end of 2024. The prospect of tariff increases in the United States sparked a wave of uncertainty in the markets, upsetting the fragile balance restored last year. This instability had a direct impact on private equity activity, with a differentiated impact depending on the region, strategy, and deal size.

Faced with uncertainties over the future of the pension system, the French are looking for solutions to regain control over their financial future. Thibaut Mortelecq, Head of Key Account Services at Altaroc, explains the challenges, obstacles and opportunities associated with private equity investment as part of a long-term wealth management strategy.

In the investment world, private equity is a model for generating outperformance in relation to listed markets. It's not simply a question of financial strategy, but of a set of mechanical levers that enable funds to create value.

In 2024, the buyout market experienced a noticeable upturn thanks to improving economic conditions, with an increase in transactions particularly in the USA and Europe, while Asia showed varied regional dynamics. Take-private transactions and carve-outs were particularly dynamic, illustrating a growing desire on the part of companies to leave public markets for greater flexibility. Investors' caution in the face of macroeconomic risks reduced fund-raising, but also created attractive investment opportunities, while the strategy of GP-LED transactions continues to grow as an alternative to traditional exits.

Analysis of the role of software publishers in private equity strategies.

Dimitri Bernard details the impact of private equity fees and their justification.

Dimitri Bernard explains performance and liquidity management in private equity.

Dimitri Bernard and Eliott Vincent explain the private equity investment cycle.

Often perceived as a world reserved for insiders, private equity plays a key role in financing the real economy and driving business growth. This special report deciphers the mechanisms of private equity, from capital raising to value creation strategy. With a particular focus on funds of funds, which are genuine catalysts for diversification and access to rare opportunities, we explain how these tools enable investors to participate in high-potential entrepreneurial adventures.

Private equity refers to investing in unlisted companies with a view to increasing their value over a long period of time before selling them.

Investing in private equity involves allocating capital to unlisted companies via specialized funds, with a view to providing strategic support and transformation over the long term.

Growth buyout a natural evolution of private equity. Value creation depends primarily on the quality of the business plan and the ability to execute it operationally.

Investment funds and mutual funds play an important role in asset management and wealth management.

Deal flow is the starting point for any private equity strategy. It refers to all the investment opportunities that a fund identifies, analyzes, and filters over time.