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Research Center Premium is a powerful online resource providing free access to a wide range of data and intelligence taken from Preqin’s online products and services, including:
Preqin Investor Network is a platform available only to limited partners and hedge fund allocators, as well as their external alternative investment consultants.
This database allows all eligible investors to analyze past performance and create custom benchmarks, as well as enabling them to search and view profiles for every fund open to investment or fundraising across the following asset classes: private equity and venture capital, real estate, infrastructure, secondaries, and hedge funds.
Preqin Solutions, formerly Baxon Solutions, helps GPs and LPs automate compilation, analysis and exchange of financial information including a portfolio's operating metrics (financial, KPIs, ESG), investment valuations, as well as investment and aggregate fund performance. The integration of Preqin and other market data sources has enabled benchmarking of performance against public or private markets for internal and investor reporting purposes. Some benefits of the system:
Launched in Q4 2015, Natural Resources Online is Preqin’s first online module focusing solely on the natural resources industry. Natural Resources Online provides detailed information and intelligence on institutional investors, fund managers and fundraising in the industry and much more across the following areas:
Preqin’s Investor Analyst is a powerful analysis tool which enables users to create instant reports comparing a specific investor’s current and planned allocations, preferences and investment plans against a tailor-made peer group. Investor Analyst leverages Preqin’s detailed data and intelligence on institutional investors to quickly generate valuable reports to enhance perspective of the alternative assets investor universe. Some sample uses of Investor Analyst include:
The average time taken to raise a private equity fund has remained steady so far in 2015 at 17 months, the same as 2014. This is a reduction from the 18-month average of funds closed in 2013, which Preqin’s Fundraising Momentum tool shows to be the longest average period to complete fundraising since 2010. In the years following the financial crisis, the average private equity fund has consistently taken more than 12 months to reach a final close. Evidently, fundraising is a time consuming process and, as a result, many GPs utilize placement agents, calling on their services in order to secure LP commitments.
The percentage of private equity funds using placement agents has stayed relatively stable, fluctuating between 43% and 53% of closed funds each year, as shown in the chart above. So far in 2015, 51% of closed funds have used a placement agent, an increase of four percentage points compared to 2014. However, of the 2,267 private equity funds currently in market, a lower proportion (42%) has appointed placement agents to assist in raising capital. Preqin’s Funds in Market online service suggests that some advantage is associated with using a placement agent; of funds that have closed so far in 2015, 54% of those that enlisted a placement agent closed above target, compared to 44% of those that did not employ an agent.
A shortage of resources or a lack of fundraising experience prompts many first-time fund managers to lean on the full range of services placement agents provide, including fund structuring and creating marketing materials. However, the cost of recruiting external service providers may not be manageable for all maiden funds to bear. Preqin data shows that only 38% of first-time fund managers on the fundraising trail are using a placement agent, compared to 45% of funds being raised by more experienced firms.
Geographical analysis shows that placement agent utilization varies very little by fund manager location. Of funds with managers based in North America which have closed since 2008, 47% used placement agents to assist with fundraising. For funds based in Europe, 49% used placement agents, while 46% of funds based in Asia and Rest of World used the services of placement agents.
Of all placement agents tracked by Preqin’s Funds in Market database, New York-headquartered Park Hill Group is helping to raise capital for the greatest number of private equity funds currently on the fundraising trail: 17 vehicles with a collective target of $12.1bn. California-based firm Probitas Partners is currently assisting a smaller number of funds, but with a higher aggregate target of $12.8bn.