In April 2020, shortly after COVID-19 was declared a pandemic by the World Health Organisation, we published the "Impact of COVID-19 on Private Fundraisings, Comparisons to GFC and Looking Ahead" article, which summarised the fundraising environment at that time. Much has changed since then even though COVID-19 itself has not yet been defeated.
In summary, the pandemic did not adversely impact fundraising activity of private funds as much as many people had expected.
In this article, we discuss the current state of events at a macro level by looking at the general economic climate before delving into specific areas of fundraising. This will follow with our view on secondaries, dry powder, deals, valuations and returns, and the outlook for 2021.
