Edelman Smithfield’s 2024 LP Survey on Private Capital reveals insights from 405 global LPs on how the reputation of GPs affects allocation decisions. LPs were consulted on matters ranging from leadership, to ESG, use of AI and how GPs show up on social media. Key findings include:

• Almost half of LPs (46%) view a good reputation of a GP as even more important than their investment returns
• The vast majority of LPs (98%) search the social media profiles of firms and individuals prior to making allocation decisions
• LPs want to see GPs adopt the use of AI, but only in certain circumstances
• The current trends of GPs going public, or launching private wealth products, will be a cause of concern for LPs if not managed carefully.