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Private Equity

Private-equity partners and staff differ on gender equality, career prospects – survey

Gender diversity in private equity may becoming a more common topic, yet almost half of female respondents and a quarter of the men felt that there has been "little or no change," according to a survey released Monday by investment bank Investec and asset manager consultant MJ Hudson.

"One key issue for the industry is the clear gender imbalance at the top of the industry, with numerous causes cited for it," the survey report said. "There is now, however, a growing feeling among many that, fully cognizant of the long road ahead, the first steps are finally being taken."

The survey of 289 women and men in private equity also found that while 77% of managing partners expressed confidence in their long-term career prospects, the figure drops to 19% for respondents below partner level, with 27% considering leaving their firms within the next 12 months. "This is not good news for the industry," the report said.

The ninth annual survey also found that nearly half of general partners have experienced pressure from limited partners to lower management fees in return for greater emphasis on carried interest.

In terms of adding value, 83% of GPs expect to make follow on-investments when an initial investment period expires. GPs "are just as bullish as they were last year, with regards to the amount of capital commitments they will be able to secure for their next funds," the report said.