CEO Jennifer Choi Discusses PE Landscape in Buyouts

CEO Jennifer Choi and five other experts forecast what’s ahead for the private markets (Credit: Buyouts)

Washington, D.C. (December 1, 2022) –  In the November issue of Buyouts, ILPA CEO Jennifer Choi joins other prominent members of the PE community to discuss what is on the horizon for Private Equity in 2023, specifically providing her take on the SEC’s proposed Private Fund Advisers rule, LP strategy, and the latest on the ESG Data Convergence Initiative.

“LPs are feeling the denominator effect, and it is certainly impacting strategy and planning for next year,” Choi told Buyouts. “At the same time, the current moment presents a stark contrast with earlier this year, when so many LPs were struggling to keep up with the pace of fundraising with faster reups and shorter times to close. Now, the slowdown in fundraising is presenting some LPs with unexpected opportunities to invest with managers that may not have had space in their funds in the past.

In past times of stress, we’ve observed a flight to quality or familiarity, which raises the bar for emerging managers, even more challenging where track record is limited or problematic, e.g., with a spinout where portability is at issue. LPs will realistically be making tough choices and potentially scaling back their allocations, even with existing established managers, in the year ahead.”

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