Data & Intelligence

2012 Global Limited Partners Survey

EMPEA’s 8th Annual Global Limited Partners Survey collected the views of 106 LPs from 28 countries around the world to better understand their changing attitudes toward private equity investing in emerging markets. This study provides EMPEA Members and the broader industry with a greater understanding of how LPs view the asset class, how their attitudes have changed over time, what their plans are for investment and what factors will shape the future of private equity investment in emerging markets.

Key findings include:

  • Three-quarters (75%) of LPs expect their commitments to emerging markets to increase over the next two years. By contrast, only 26% of LPs anticipate they will expand their investments in developed markets over the same time period.
  • 72% of LPs expect 2011-vintage EM PE funds to deliver net returns of at least 16%, compared with only 26% of LPs believing the same of developed market PE funds.
  • More than half of LPs (57%) expect that emerging markets will account for 16% or more of their total PE allocation in two years’ time.
  • While Brazil still stands to see the largest influx of new investors, LPs are increasing their focus on the less-penetrated markets of Latin America, Southeast Asia, Sub-Saharan Africa and Turkey – all poised to see increased commitments.
  • Latin America beyond Brazil has edged out Brazil itself as the most attractive destination for dealmaking, with Brazil, China and Southeast Asia following close behind.

EMPEA Members can access the full report by logging in.

Non-Members can receive an electronic copy of the report by emailing support@EMPEA.net with the subject line: “Global LP Survey.”

Press can receive an electronic copy of the report by emailing press@EMPEA.net with the subject line: “Global LP Survey.”

EMPEA has served as a useful reference platform for CDPQ by helping to define the eligible universe of fund managers in growth markets. Membership provides background data and a...

Rashad Kaldany | Executive Vice-President and Growth Markets, CDPQ

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Managing Director, The Carlyle Group