UNQUOTE

Third of LPs put fund commitments on hold – survey

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A third of LPs admit to having had to put fund commitments on hold due to the coronavirus outbreak, although 62% would commit to a fund without a personal visit, according to the 2020 Brackendale LP Private Equity Sentiment Survey.

The respondents in Brackendale Consulting's survey comprised pension funds, insurance companies, family offices and funds-of-funds from Europe and the US.

Of the respondents, 92% said they have been happy with GP engagement and updates relating to the impact of the coronavirus crisis on their portfolios, while 8% said they had not been satisfied.

Of the LPs surveyed, 38% are currently focusing solely on re-ups, while 12% plan to change their investment strategy to focus on areas including special situations, turnarounds and private debt.

The secondaries market looks set to prosper, as 71% of respondents expect they will become more active in the strategy as a result of the pandemic.

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