About the report

Our annual fund activity report shows how investors are reshaping their private market portfolios for the new reality.

‍Key takeaways

Rise of private credit: Private credit saw a notable rise in interest among Moonfare investors, growing from 2.6% in 2022 to 10.6% in 2023. The credit’s recent appeal largely stems from relatively high yields offered by floating-rate private credit loans.‍

Buyouts remain the go-to strategy: Buyout funds continue to dominate Moonfare's platform activity, capturing 63% of all capital commitments in 2023, up nearly 10 percentage points from the previous year. This trend mirrors the global market, where buyout funds saw an 18% increase in capital raised year-over-year.

‍Growth strategies decline further: Growth-oriented strategies have seen a decline, with only 5.2% and 8.3% of Moonfare's capital directed to growth equity and venture capital funds, respectively. This decrease is largely driven by rising interest rates and declining tech stock valuations.

‍Younger investors eye private equity: Investors under 35 are becoming more prominent, contributing nearly 13% of all commitments on Moonfare’s platform in 2023, up from 5% in 2020. This shift is driven by millennials' growing wealth, longer investment horizons and a higher risk tolerance compared to older generations.

Important notice: This content is for informational purposes only. Moonfare does not provide investment advice. You should not construe any information or other material provided as legal, tax, investment, financial, or other advice. If you are unsure about anything, you should seek financial advice from an authorised advisor. Past performance is not a reliable guide to future returns. Don’t invest unless you’re prepared to lose all the money you invest. Private equity is a high-risk investment and you are unlikely to be protected if something goes wrong. Subject to eligibility. Please see https://www.moonfare.com/disclaimers.