The Ledger
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MacArthur: Ultra-wealthy investors cannot name a single respected private asset manager
“We run surveys every single year of ultra high net worth individuals, and we ask them, can you name three respected private asset managers for us? And the number one answer every single year is I don't know.”
MacArthur: Private equity distributions to LPs fell to 11% of NAV in 2024
“Last year, the distribution to the private equity LPs as a percentage of their net asset value was 11%.”
MacArthur: Buyout returns over the past 14 years saw zero margin improvement
“If you look at the last 14 years of realized returns, Roughly speaking, 50% of the returns of buyouts have been due to revenue growth. 50% has been due to multiple expansion, largely owing to the low interest rate structure that we were talking about, and zero…”
Most UHNW investors cannot name three alternative asset providers
“I'll call out a Bain survey from twenty-twenty-two. Bain and company asked 418 ultra high net worth individuals. Name three firms that come to mind when you think of alternative assets and who are the providers. First answer, the biggest answer in the bubble c…”
MacArthur: Bain evaluates 4,000 to 5,000 PE investment opportunities annually
“When you add that all up, it's probably four to 5000 different investment opportunities every single year that we look at.”
MacArthur: The average PE general partner manages twice as many companies today
“What we know is that the average GP has twice as many businesses in their portfolio than they had 10 years ago.”
MacArthur: Average PE transaction size has grown from $100M to $1B
“Back in the day, when we started this business, the average transaction size was a hundred million dollars total enterprise value. And so we thought no company was ever going to be big enough to hire Bain once they were a portfolio company, because they were s…”