![]() And within asset classes, private equity and real estate had more challenging times in 2022 on various counts than private debt, infrastructure, and natural-resources strategies did. ![]() On the other hand, dry-powder inventory 1 “Dry-powder inventory” is the amount of capital available to GPs expressed as a multiple of annual deployment. These factors led to a year-over-year decrease in deal volume and fundraising. Also, many LPs faced overallocation challenges in their institutional portfolios, resulting in the denominator effect. The second was relatively slower because of lower availability of debt, rising cost of debt, and dislocation in asset prices. After an exceptional 2021 for private markets, 2022 was a year of two halves for the industry. ![]()
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