Listed Private Equity Insights: Validating Valuations (Invest Europe)

Summary

• As of 29 December 2024, listed private equity firms globally managed €4,140 billion in assets and had a combined market cap of €663 billion.p.2
• In Europe, 3,000 private equity and venture capital firms manage more than 8,400 funds backing around 28,610 businesses.p.5
• In 2023, 11.2 million people, representing 5% of Europe's total workforce, worked in 28,610 private equity-backed companies, including 21,536 SMEs.p.5
• The research dataset was compiled from exit data submitted by 15 of Invest Europe's listed private capital members.p.7

Key insights

1. Direct listed private equity funds generated a 36% average uplift on exit compared to their last reported asset valuation from 2019 to 2024.p.2
2. Listed private equity funds of funds achieved a higher average uplift of 47% on reported valuations upon exit over the same six-year period.p.2
3. Kernel Density Estimation shows direct private equity funds have a peak positive uplift concentrated between 0% and +20%.p.4
4. Funds of funds display a tighter uplift distribution with a higher peak centered between +20% and +40%.p.4
5. Private equity backed 21,536 European small and medium-sized enterprises (SMEs) out of 28,610 total backed businesses in 2023.p.5
6. Invest Europe's Listed Private Capital Roundtable comprises 25 listed private capital members.p.7