Inside Private Equity - The Big Debrief, 30 October 2024

This episode of *Le Grand Débrief* delves into the risks, prospects, and growing accessibility of private equity for private clients. Frédéric Stolar points out that capital and returns are never guaranteed, but that the main challenge of private equity remains accepting illiquidity over several years—the time companies need to execute their business plans and create value.The discussion turns to Efficy, with Alfonso Tasso explaining why the company is aiming first for “centaur” status before “unicorn” status, thanks to recurring growth in CRM, market consolidation, and the rise of artificial intelligence. Éric Hazan, for his part, details the sectors most attractive to funds—notably tech, healthcare, and sustainable development—while noting the still-gradual signs of market recovery following the slowdown in fundraising and transactions.The discussion also highlights diversity challenges in private equity, the importance of strategic consultancies like McKinsey in supporting value creation, and the role of funds in transforming SMEs and mid-market companies into European or global champions.The final roundtable with wealth management advisors analyzes why private clients have long invested little in private equity: a lack of suitable offerings, historically high minimum investment thresholds, unfamiliarity with the asset class, operational complexity, and a need for education. The speakers explain how technology, distributor training, transparency, and platforms like Altaroc now making this asset class more accessible, easier to understand, and more tangible for individual investors.