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2. Winners and Losers: Continued dispersion from multiple dimensions of the market.
The current brew of macro pressures and broader uncertainty have combined to fuel an intriguing effect across multiple dimensions. In 2024, we expect to see continued dispersion across three key market participants: private capital asset managers, private equity firms and portfolio companies. As we navigate slowing economic growth, volatility, and geopolitical shocks, it is even more critical to identify the attributes of winners and losers.
The winners have distinct attributes. Asset managers with scale, diverse investment capabilities, multiple sources of dry powder, and sustainable deal-sourcing advantages, will thrive. These firms will continue to secure the highest quality deal flow, build the most resilient portfolios and attract the broadest capital base, fostering resilience in any market cycle...
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