Big 4 Private Equity Firms In Brighter Mood; Falling Investment In Biotech

2025-02-22 04:20:00 ET

Summary

• Surging revenue from asset management businesses appeared to lift the spirits of private equity's Big Four firms.
• The middle market drove the increase in the monetization of portfolio company investments in 2024.
• Private equity- and venture capital-backed transactions in biotechnology declined for the third consecutive year in 2024 to $20.28 billion globally, down 11% from $22.79 billion in 2023, according to Market Intelligence data.
• Private equity fundraising struggled in 2024, with total capital raised declining for the third consecutive year.

Surging revenue from asset management businesses appeared to lift the spirits of private equity's Big Four firms, which all set quarterly or annual records for fourth quarter 2024 fee-related earnings....

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