October 19, 2018
October Chart of the Month
Dry powder approaches the $2T mark in 2018.
- Over $1T of the dry powder is held in equity strategies.
- Deployment pacing remains around long-term averages, providing confidence that general partners can deploy capital in today’s market.
NAV reached $3T in 2018 for the first time in private markets history
- Increasing hold periods and asset prices, along with healthy deployment of capital, have driven NAV to new highs
- Real assets, growth equity, and venture capital have seen the greatest growth over the last five years
Signs indicate that the private markets are healthy and growing.
- NAV and dry powder continue to set record levels across the private markets.
Despite all the growth in the private markets, we are still dwarfed by the public markets.
- Dry powder is less than 2% of estimated total global AUM* [endnote symbol=’1’ text=’Bloomberg’]
- Even with all the growth, the four largest public companies are bigger than the entire private markets NAV![endnote symbol=’1’ text=’Bloomberg’]