The Pulse of Private Equity – 6/7/2021

Long-dated fund market is growing


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Long-dated funds are growing in popularity. A new analyst note from PitchBook takes a closer look at the growing market, generally defined as funds built to last for 15 years or more. It’s a relatively new phenomenon that started less than a decade ago, but has since attracted names like Blackstone, KKR, Accel-KKR, Carlyle and Vista to the scene. According to PitchBook figures, about 10% of portfolio companies are held longer than 10 years. What had been a concern for LPs is being turned into a deliberate strategy, and one that has several perks for both LPs and the companies themselves.