S&P Global Market Intelligence's Annual Private Equity and Venture Capital Outlook Indicates Optimism Amid Macroeconomic Caution
S&P Global Market Intelligence's 2025 Private Equity and Venture Capital Outlook reveals a positive industry sentiment despite macroeconomic challenges. The survey shows 71% of private equity GPs and 67% of venture capital GPs are more optimistic about the deal environment compared to last year.
Key findings include: improved fundraising conditions with 44% of PE and 73% of VC GPs showing increased optimism; expanding retail investor access with over two-thirds of GPs offering or planning to offer opportunities to non-institutional investors; and significant GenAI adoption in investment workflows, particularly in due diligence (31%), valuation analysis (23%), and deal sourcing (22%).
Notable concerns include: 56% of LPs believing portfolio company valuations are too high, 73% of LPs worried about higher interest rates impacting PE returns, and 75% of LPs expressing skepticism about GP-led secondaries due to potential conflicts of interest.
S&P Global Market Intelligence ha rivelato che le prospettive per il private equity e il venture capital nel 2025 mostrano un sentimento positivo nel settore, nonostante le sfide macroeconomiche. Il sondaggio indica che il 71% dei GPs di private equity e il 67% dei GPs di venture capital sono più ottimisti riguardo all'ambiente delle trattative rispetto all'anno scorso.
I risultati chiave includono: condizioni di raccolta fondi migliorate, con il 44% dei PE e il 73% dei VC GPs che mostrano un ottimismo crescente; accesso ampliato per gli investitori al dettaglio, con oltre due terzi dei GPs che offrono o pianificano di offrire opportunità a investitori non istituzionali; e una significativa adozione della GenAI nei flussi di lavoro di investimento, in particolare nella due diligence (31%), nell'analisi di valutazione (23%) e nella ricerca di affari (22%).
Tra le preoccupazioni principali ci sono: il 56% degli LPs che ritiene che le valutazioni delle società in portafoglio siano troppo alte, il 73% degli LPs preoccupati per l'impatto dei tassi di interesse più elevati sui rendimenti del PE, e il 75% degli LPs che esprimono scetticismo riguardo ai secondari guidati dai GP a causa di potenziali conflitti d'interesse.
S&P Global Market Intelligence ha revelado que las perspectivas para el capital privado y el capital de riesgo en 2025 muestran un sentimiento positivo en la industria, a pesar de los desafíos macroeconómicos. La encuesta indica que el 71% de los GPs de capital privado y el 67% de los GPs de capital de riesgo son más optimistas sobre el entorno de acuerdos en comparación con el año pasado.
Los hallazgos clave incluyen: condiciones de recaudación de fondos mejoradas, con el 44% de los PE y el 73% de los VC GPs mostrando un optimismo creciente; acceso ampliado para inversores minoristas, con más de dos tercios de los GPs ofreciendo o planeando ofrecer oportunidades a inversores no institucionales; y una adopción significativa de GenAI en los flujos de trabajo de inversión, particularmente en la debida diligencia (31%), análisis de valoración (23%) y búsqueda de acuerdos (22%).
Las preocupaciones notables incluyen: el 56% de los LPs que creen que las valoraciones de las empresas de la cartera son demasiado altas, el 73% de los LPs preocupados por el impacto de las tasas de interés más altas en los rendimientos del PE, y el 75% de los LPs que expresan escepticismo sobre los secundarios liderados por GP debido a posibles conflictos de interés.
S&P Global Market Intelligence의 2025년 사모펀드 및 벤처 캐피탈 전망은 거시경제적 도전에도 불구하고 긍정적인 산업 감정을 드러냅니다. 설문조사에 따르면 71%의 사모펀드 GP와 67%의 벤처 캐피탈 GP가 작년보다 거래 환경에 대해 더 낙관적이라고 응답했습니다.
주요 발견 사항은 다음과 같습니다: 44%의 PE와 73%의 VC GP가 더 높은 낙관성을 보이며 자금 조달 조건이 개선되었고, 3분의 2 이상의 GP가 비기관 투자자에게 기회를 제공하거나 제공할 계획이 있으며, 투자 작업 흐름에서 GenAI의 상당한 채택이 이루어지고 있습니다. 특히 실사(31%), 가치 분석(23%), 거래 소싱(22%)에서 두드러집니다.
주요 우려 사항으로는: 56%의 LP가 포트폴리오 회사의 가치 평가가 너무 높다고 믿고, 73%의 LP가 높은 금리가 PE 수익에 미치는 영향을 걱정하며, 75%의 LP가 잠재적인 이해 상충으로 인해 GP 주도 2차 거래에 대해 회의적인 입장을 보이고 있습니다.
S&P Global Market Intelligence a révélé que les perspectives pour le capital-investissement et le capital-risque en 2025 affichent un sentiment positif dans l'industrie, malgré les défis macroéconomiques. L'enquête montre que 71% des GP de capital-investissement et 67% des GP de capital-risque sont plus optimistes quant à l'environnement des transactions par rapport à l'année dernière.
Les principales conclusions incluent : des conditions de collecte de fonds améliorées, avec 44% des PE et 73% des VC GP montrant un optimisme accru ; un accès élargi pour les investisseurs de détail, avec plus des deux tiers des GP offrant ou prévoyant d'offrir des opportunités aux investisseurs non institutionnels ; et une adoption significative de GenAI dans les flux de travail d'investissement, en particulier dans la due diligence (31%), l'analyse de valorisation (23%) et la recherche de transactions (22%).
Les préoccupations notables incluent : 56% des LP croyant que les valorisations des entreprises du portefeuille sont trop élevées, 73% des LP s'inquiétant de l'impact des taux d'intérêt plus élevés sur les rendements du PE, et 75% des LP exprimant du scepticisme quant aux secondaires dirigés par GP en raison de conflits d'intérêts potentiels.
S&P Global Market Intelligence hat gezeigt, dass die Aussichten für Private Equity und Venture Capital im Jahr 2025 trotz makroökonomischer Herausforderungen einen positiven Branchensentiment aufweisen. Die Umfrage zeigt, dass 71% der Private Equity GPs und 67% der Venture Capital GPs optimistischer über das Deal-Umfeld sind als im vergangenen Jahr.
Wichtige Erkenntnisse umfassen: verbesserte Fundraising-Bedingungen, wobei 44% der PE und 73% der VC GPs einen gestiegenen Optimismus zeigen; erweiterter Zugang für Einzelinvestoren, wobei über zwei Drittel der GPs Gelegenheiten für nicht-institutionelle Investoren anbieten oder planen anzubieten; und eine signifikante Einführung von GenAI in den Investment-Workflows, insbesondere in der Due Diligence (31%), der Bewertungsanalyse (23%) und der Deal-Sourcing (22%).
Bemerkenswerte Bedenken umfassen: 56% der LPs, die glauben, dass die Bewertungen der Portfoliounternehmen zu hoch sind, 73% der LPs, die sich Sorgen über die Auswirkungen höherer Zinssätze auf die PE-Renditen machen, und 75% der LPs, die Skepsis gegenüber GP-geführten Sekundärgeschäften äußern aufgrund möglicher Interessenkonflikte.
- 71% of PE GPs and 67% of VC GPs more optimistic about deal environment
- Improved fundraising outlook with 44% PE and 73% VC GPs more optimistic
- 52% of LPs expect PE to provide largest returns in 2025, up from 39%
- 79% of LPs participate in at least one co-investment deal annually
- Expanding retail investor access with over two-thirds of GPs offering opportunities
- 73% of LPs concerned about negative impact of high interest rates on PE returns
- 56% of LPs believe portfolio valuations are too high and need adjustment
- 75% of LPs skeptical about GP-led secondaries due to conflict of interest concerns
- 46% PE and 40% VC GPs worried about macroeconomic environment impact
Annual survey reveals increasing retail investor access and GenAI playing a larger role in investment workflows
According to the annual survey,
"While the macroeconomic landscape presents challenges, the overall sentiment within the private equity and venture capital sectors is one of cautious optimism," said Dylan Thomas, lead author for the report, at S&P Global Market Intelligence. "In addition, expanding into the retail channel is a focus for both private equity and venture capital firms, with more than two-thirds of surveyed GPs either currently offering or considering access to retail investors."
Key highlights from the 2025 Private Equity and Venture Capital outlook:
- Optimism in deal environment:
71% of GPs are more optimistic about the private equity deal environment than they were a year ago, with67% of venture capital GPs sharing a similar outlook. - Improved fundraising conditions: Fundraising outlooks have improved, with
44% of private equity and73% of venture capital GPs more optimistic about conditions compared to last year. - Retail investor access: Retail investors are gaining access, and over two thirds of surveyed GPs offer or plan to offer opportunities to non-institutional investors.
- GenAI applications: Considering where in the investment process generative AI technology is most likely to be helpful,
31% of private equity and venture capital respondents say due diligence. Smaller shares vote for valuation analysis (23% ) and deal sourcing (22% ). - Macroeconomic influences: A significant share of GPs (
46% for private equity and40% for venture capital) identified the macroeconomic environment, including factors such as interest rates and inflation, as the primary influence on private markets deal activity in 2025. - Private equity returns: LPs surveyed are bullish on private equity returns in 2025, with
52% highlighting PE as the single asset class likely to provide the largest returns this year, up from39% a year ago. - Co-investment activity:
79% of LPs reported participating in at least one co-investment deal annually, with over half (54% ) completing between one to five co-investment deals each year. - Valuation concerns:
56% of LPs think portfolio company valuations are too high and due for an adjustment. - Interest rate impacts: Private equity returns may falter in a higher-for-longer interest rate environment, with
73% of LPs saying these rates will be a drag on future private equity returns. - Skepticism of GP-led secondaries: A majority of LPs (
75% ) are skeptical when it comes to GP-led secondaries and fund-level financing, citing concerns of potential conflicts of interest. - ESG considerations: Only
4% of LPs ranked ESG a top priority when evaluating potential fund investments.
The S&P Global Market Intelligence Private Equity and Venture Capital Outlook surveyed more than 100 global private equity, venture capital and limited partner respondents across
To request a copy of the 2025 Private Equity and Venture Capital Outlook, please contact press.mi@spglobal.com.
S&P Global Market Intelligence's opinions, quotes, and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendation to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.
S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.
Media Contact:
Amanda Oey
S&P Global Market Intelligence
P. +1 212-438-1904
E. amanda.oey@spglobal.com or press.mi@spsglobal.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/sp-global-market-intelligences-annual-private-equity-and-venture-capital-outlook-indicates-optimism-amid-macroeconomic-caution-302416162.html
SOURCE S&P Global Market Intelligence
FAQ
What percentage of GPs are optimistic about private equity deals in 2025 according to S&P Global (SPGI)?
How are Partners viewing private equity returns for 2025 in SPGI's survey?
What is the impact of high interest rates on PE returns according to SPGI's 2025 outlook?
How are venture capital firms implementing GenAI according to SPGI's 2025 survey?
What percentage of LPs are concerned about portfolio valuations in SPGI's 2025 outlook?
