Carne Group: Fund managers to look overseas

March 4, 2024

New research suggests that fund managers plan to place a greater focus on overseas markets to raise capital.

Fund managers plan to place a greater focus on overseas markets to raise capital, concludes Carne Group from own research. ‘Some 96% of alternative asset, equity and fixed income fund managers surveyed across 10 countries that collectively manage $1.6trillion said they will do this in 2024,’ says the company today.

‘Nearly one in five (18%) US fund managers surveyed said this year they intended to raise capital in Continental Europe for the first time, and 30% of UK fund managers said this. One in three (34%) US fund managers surveyed also said they planned to raise funds in the UK for the first time.

Of the European fund managers (excluding UK) surveyed, 33% said that over the next 12 months they planned to raise capital in the UK for the first time. This will be made easier by the recent  announcement from the UK Government that EU states are now deemed equivalent to the UK under its Overseas Funds Regime. This enables EU UCITS funds to be marketed to UK retail investors.

Overall, 83% of the fund managers interviewed expect the level of fundraising by real estate fund managers in 2024 to increase when compared to 2023. Some 78% of fund managers surveyed expect private equity funds to raise more capital this year than in 2023, and the corresponding figures for private debt and hedge funds are 66% and 56% respectively.