The fifth annual Buyouts Emerging Manager Survey conducted in partnership with Gen II Fund Services, LLC, attracted a wide spectrum of LPs and GPs.
GP participants were, for the most part, firmly situated in the mid-market, with 63 percent having between $10 million and $249 million of committed capital. Even still, nearly one-quarter reported commitments above that mark.
Just shy of 40 percent of participating GPs had fewer than five portfolio companies in their fold, with 49 percent reporting between five and 24 portfolio companies. A full 77 percent said they plan to add between zero and five portfolio companies in the coming year, with nearly half of those planning to add two or less new companies to their portfolios.
Meanwhile, 88 percent of GP participants reported that their firm comprises 10 or fewer investment professionals, and only 27 percent of GP participants said their firms comprise more than 11 total professionals.
The LPs who participated in the fifth annual Buyouts Emerging Manager Survey included a cohort of heavily private equity-focused investors. Thirty-four percent of LP participants said that they allocate 90 percent or more of their total portfolio to private equity, and only 19 percent reported allocations of less than 15 percent.
At the same time, nearly one-third of LP participants said the total value of their private equity and venture capital portfolios amounted to less than $250 million, while 37 percent valued their PE/VC portfolios at between $1.5 billion and $10 billion.
Nearly half of this year’s LP participants said they allocate between $25 million and $250 million in additional capital to PE and VC funds per year on average.