M&A Year in Review 2023 brochure - Flipbook - Page 42
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Private Capital
Sector performance
Macroeconomic headwinds weighed on the private
capital sector in 2023, resulting in a continued
slowdown in global fundraising and deal activity.
Despite this decline, and in light of global challenges,
there was strong demand for investments in digital
infrastructure, ESG, renewable energy, climate change,
and health.
Driven largely by high interest rates, private credit
flourished as borrowers were forced to look for
alternative lending sources. The secondaries market
continued to grow as a solution for limited partner (LP)
liquidity. Family offices and ultra-high net worth
individuals also played an increasingly significant role
in the sector.
Hogan Lovells activities
In 2023, our Private Capital team partnered with
investors at every stage of the investment lifecycle from
fundraising through to investment, financing, and exit.
We developed a range of thought leadership focused on
the latest developments and trends impacting the
private capital sector, including ESG, foreign direct and
cross-border investment opportunities, Sustainable
Finance Disclosure Regulation, carried interest
schemes, the U.S. Corporate Transparency Act
regulations, and the UK Economic Crime and Corporate
Transparency Bill. We also advised a broad range of
clients impacted by the collapse of Silicon Valley Bank.
