Comprehensive analysis of key private funds terms

Private Funds Report 2023

A lot has happened since we published our last Funds Trends report. GPs and LPs have continued to focus on key areas such as GP removal, management fee rates and carry distribution models. That interrogation is taking place against an ever-changing market backdrop – with implications for private funds terms.


The trends identified in this report are a snapshot of the “market” and will continuously evolve and be up for discussion between investors, managers and advisers. By taking a methodological approach, we hope these trends will provide valuable insight and market intelligence, and equip you for those conversations.

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