Private Equity Ten-year Top Ten: The Decade's Biggest Changes In Funds

This month, MJ Hudson celebrated its 10th birthday. So, for this latest Alternative Insight, we thought we'd enter into the spirit of the occasion by spotlighting the 10 biggest changes we have observed in the private equity funds market, over the last 10 years:

1. The industry got a lot bigger.

With interest rates pushed to (and staying at) historic lows ever since the global financial crisis (GFC), investors have had to search harder for yield, with many expanding allocations to buyout, venture capital, infrastructure and real estate funds. The result, over the last decade, has been dramatic growth across private funds. The 2020 McKinsey Global Private Markets Review found that there are now nearly 7,000 PE firms (up 40% since 2010). By the end of 2019, according to Preqin, the industry marshalled $1.45bn of dry powder, more than twice the level reported in 2009.