Ian Charles, founding partner at Arctos Partners, explains why private equity distribution yields from traditional exit channels are even lower than headline numbers suggest.
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“By our estimate, between 15 and 20% of all the exit activity the last two years has come from inorganic transactions.”
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More from Ian Charles
Insight
Charles: Market shifts impact PE firms by scale level more than strategy
“Changes in the market impact firms that share a level a lot more than firms that share the same strategy. That's pretty unique. A level eight infrastructure firm and a level eight buyout firm are impacted by the market in more similar ways Than a level two and…”
Ian CharlesFeb 10, 2025▶ 14:28Ian Charles - Private Equity's New Rules (EP.431)
Opinion
Charles: Many private equity firms fail to justify illiquidity net of fees
“First of all, have you generated enough alpha to justify taking illiquidity from the client? A lot of firms, the answer is no. Especially net a fee and carry.”
Ian CharlesFeb 10, 2025▶ 20:30Ian Charles - Private Equity's New Rules (EP.431)
PredictionNot checkable as stated
Charles: Private equity faces a massive maturity wall in 2025 and 2026
“There is a maturity wall coming in 25 and 26 for a ton of firms who've been able to bootstrap it and scrape through the last three or four years.”
Ian CharlesFeb 10, 2025▶ 23:40Ian Charles - Private Equity's New Rules (EP.431)
PredictionNot checkable as stated
Charles: High-performing PE firms will miss fundraising targets in coming years
“There is tremendous unrealized value and unrealized gain Managed by really talented people and the firms that they're a part of are going to come to market in the next 12 to 24 months, and they will not achieve the fundraising target that they need to feed all…”
Ian CharlesFeb 10, 2025▶ 24:38Ian Charles - Private Equity's New Rules (EP.431)
Insight
Charles: PE buyers are now suspicious of assets sold without continuation vehicles
“Well, now, if I'm a sponsor, and I'm getting a book from another sponsor, and they're not CV-ing it, I'm a little suspicious.”
Ian CharlesFeb 10, 2025▶ 34:39Ian Charles - Private Equity's New Rules (EP.431)
Opinion
Charles: The private equity asset class is currently 10% overvalued
“We think the asset class today is overvalued by about 10%.”
Ian CharlesFeb 10, 2025▶ 37:49Ian Charles - Private Equity's New Rules (EP.431)
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