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ALTERNATIVES

Investment opportunities, valuation issues are top private equity investor concerns — survey

Private equity investors' top challenges are investment opportunities and valuation issues, according to a survey of general partners and limited partners by private equity fund administrator Augentius.

Concerns about being offered the investment opportunities they want were cited by 56% of investor respondents, similar to the 55% in 2016. Valuation issues were cited by 46% of respondents, up 20 percentage points from the year before.

Some 60% of respondents stated that the U.S. election would have no real effect on their investment strategy. Thirty percent of investor respondents indicated they expect increased investment in U.S. funds, while 47% are more wary of pan-European funds ahead of European elections.

Major frustrations for investors include lack of transparency about fees, cited by 34% of respondents, late delivery of manager reporting (30%) and insufficient detail in reporting (23%).

For managers, fundraising (24%) and market regulation (24%) were top concerns. Eighteen percent of managers cited investment opportunities as a concern.

More than 200 GP and LP respondents from Asia, the U.S. and Europe were surveyed.