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Private equity firms must rethink valuation, data, onboarding and governance before retail fundraising can scale.
ILPA’s Neal Prunier says LPs are looking beyond investment returns, evaluating manager alignment, operating models, transparency and technology infrastructure before committing capital.
Surveys show firms are increasingly split between building the infrastructure needed to serve wealth investors or doubling down on institutional fundraising.
A tighter fundraising environment has left GPs struggling to meet LPs demands for side letters that grant tailored terms, co-investments and greater transparency.
LPs are demanding increasing transparency from private equity funds, especially in co-investment vehicles, says Colleen Fay, financial services practice leader at Withum.
Scrutiny on the accuracy of fees and expenses allocations is a key CFO concern.
Allvue and RSM say their new agentic AI operating model can automate fund workflows, reduce manual tasks and improve LP communications.
Nascent alternative mechanisms can grant people liquidity in private markets, from secondaries trading to target date funds in 401(k)s.
Rising redemptions and fund-level gates are exposing the limits of semi-liquid structures, especially among retail investors.
ILPA survey says LPs remain committed to private equity but are reworking manager rosters and capital deployment