1 Key Findings from the 2017 Preqin Global Alternatives ReportsPrivate Capital in 2017 Key Findings from the 2017 Preqin Global Alternatives Reports Christopher Elvin Head of Private Equity Products 14 March 2017, New York

2 Private Equity & Venture CapitalAbout Preqin Private Equity & Venture Capital Hedge Funds Real Estate Private Debt Infrastructure Natural Resources San Francisco New York London Hong Kong Manila Singapore Clients include over 44,000 industry professionals from 16,000 firms Multi award-winning service Data available via online databases, publications and research reports

3 2016 Round-Up

4 Private Capital has evolved

5 Investor Portfolios Becoming Ever More DiversifiedSource: 2017 Preqin Global Alternatives Reports

6 Private Capital AUM at a Record High - $4.5tnSource: 2017 Preqin Global Alternatives Reports

7 Private Capital Fundraising Close to Pre-GFC LevelsSource: 2017 Preqin Global Alternatives Reports

8 But Capital Becoming More ConcentratedSource: 2017 Preqin Global Alternatives Reports

9 Record Levels of Capital to InvestSource: 2017 Preqin Global Alternatives Reports

10 Record Number of Buyout Deals But Value DropsSource: Private Equity Online

11 Venture Capital Deal Activity >$100bn for 2nd YearSource: Private Equity Online

12 Real Estate Exit Activity Hits New HighsSource: Real Estate Online

13 More Than 7,900 Limited Partners

14 Limited Partner Evolution

15 Challenges Today

16 Key Challenges / Issues for Private Capital Fund Managers in 2017Source: 2017 Preqin Global Alternatives Reports

17 Private Capital: Not Immune From Lower Return EnvironmentSource: 2017 Preqin Global Alternatives Reports

18 Private Capital Outperformed in the Long TermSource: 2017 Preqin Global Alternatives Reports

19 Dry Powder at Record Levels But Capital Overhang is DecreasingSource: 2017 Preqin Global Alternatives Reports

20 Fundraising More Competitive Than Ever & Investors Are Finding Sourcing Funds More ChallengingSource: 2017 Preqin Global Alternatives Reports

21 Outlook for 2017

22 Nearly 3,000 Private Capital Funds in Market

23 Distributions Continuing to Outstrip Call-UpsSource: 2017 Preqin Global Alternatives Reports

24 Institutional Plans for 2017Source: 2017 Preqin Global Alternatives Reports

25 And For the Longer Term Source: 2017 Preqin Global Alternatives Reports

26 Fund Managers Confident in Finding ValueSource: 2017 Preqin Global Alternatives Reports

27 Investor Performance ExpectationsSource: 2017 Preqin Global Alternatives Reports

28 Key Takeaways Private capital in robust health – excellent long-term returns driven rapid AUM growth Clear current concerns over valuations; LPs and GPs alike cautious about forward- looking prospects But committed to further increasing allocations – risk/reward attractive as ever Fundraising highly competitive and capital becoming increasingly concentrated but distributions and LP satisfaction continuing to drive Deal/exit activity - still a seller’s market but wider political/financial instability may cause shifting of the scales

29 Data Sources Free reports available from www.preqin.com/researchPreqin’s online services:

30 Further Information Christopher Elvin – [email protected]Request further information from Christopher Elvin – Follow us on Twitter: Find us on LinkedIn: