Private equity Archives

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Private markets outlook: Refilling the glass

As we approach the end of 2024, sparks of life are emerging in private markets, fueling optimism for improved liquidity and a revitalized investment landscape.

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U.S. middle market shows notably strong top-line growth

Private middle market firms continue to power the U.S. economy, driving higher revenue growth than that of small and large cap firms.

Column chart showing trailing 12-month revenue growth of constituents of the Russell 2000 Index (1.6%), the S&P 500 (6.2%) and the private U.S. middle market (12.9%). The strong revenue outperformance of private middle market firms speaks to the fundamental health of these companies relative to public small- and large-cap firms.

Nov 20, 2024

By Research

Playbook

Mapping the markets: Q4 2024

Our Investment Research team compiled their best charts and latest market analysis across macroeconomics, public markets and private market strategies to help our clients map today’s markets.

As small caps return to favor, quality remains a concern

Markets have turned risk-on since the election, as investors again embrace small caps. But 43% of Russell 2000 companies generate negative earnings.

Line chart showing the percentage of Russell 2000 (small cap) companies that generate negative earnings. The percentage has gradually moved higher, from 14% in 1994, to 43% as of Q3 2024. The diminishing quality of public small cap companies highlights the larger shift in the investment opportunity set and suggests private markets may offer better access to firms with stronger growth prospects.

The Takeaway with Troy Gayeski: Middle market PE secondaries

Our Chief Market Strategist dives into his latest strategy note on how these investments offer a compelling risk/reward profile for growth.

Private markets outlook: Refilling the glass

As we approach the end of 2024, sparks of life are emerging in private markets, fueling optimism for improved liquidity and a revitalized investment landscape.