Edition 28

The Satellite

Dear Valued Member of the Moonfare Network,

Welcome to the first Satellite newsletter of 2024. As we head into the new year, we wish you an abundance of health and success!

Meanwhile, emerging green shots foreshadow a potentially more stable 12 months ahead for private markets.  

In our recently published outlook, we outlined the top 10 predictions that are poised to shape the industry in 2024, covering everything from fundraising to dealmaking. Here's a glimpse of what you can expect:

• Exit conditions could improve: Exit routes may start to free up as the buyer-seller price expectation gap narrows.
• Primary deal activity will likely start to normalise: More settled valuations and the weight of capital in private markets could drive dealmaking.
• Private credit might attract (even) more investors: Even with potential interest rate cuts, private debt should continue to deliver for investors.
• Growth investors will hone in on profitability: GPs could emphasise profitability over future growth projections.
• Firms are looking to invest heavily in AI: SaaS and other technology businesses will be a key focus, but GPs will also target sectors that support AI growth.

For an in-depth analysis of these trends and other predictions, click here.

Happy reading!

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Moonfare's Outlook 2024

The year ahead in fundraising, dealmaking and exits

Following a challenging 2023, as high interest rates and geopolitical uncertainty jammed up exits and dealmaking, what can investors expect from private markets this year?

Dive deeper

Interview

What 2024 has in store for co-investments: interview with Sanjay Gupta

Find out  →

Commentary

Steffen Pauls: Private equity is well-positioned for the new rates era

Read on →

Deal Talk

General David Petraeus decodes today’s geopolitical landscape

Watch now →

Learning

GP stakes investing: charting private equity’s latest frontier

Learn more →

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