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Episode Description:

Mario Giannini and John Toomey lead two of the largest private equity fund investors in the world. Mario is the CEO of Hamilton Lane, which manages over $100 billion and supervises another $700 billion in non-discretionary assets, and John is half of the Executive Management Committee of HarbourVest, which also manages in excess of $100 billion in the space. Both are past guests on the show, and we’ve replayed those conversations on the feed.

Mario and John joined me to canvass private equity markets. Our conversation covers the health and valuation of underlying portfolio companies, new deals, secondary markets, dry powder, fundraising, portfolio construction, winners and losers, new sources of capital, private credit, co-investments, ESG, China, and geopolitical risks.

Show Notes
03:24 Views on current environment
05:04 Bull case for private equity
06:21 Valuation trends
09:14 Financing markets
12:51 Exits for portfolio companies
15:53 Pace of new deals
18:55 Secondary market activity
22:24 Dry powder
25:49 Fundraising cycles
28:53 Capital allocation decisions
30:29 Portfolio construction
38:35 Winners and losers
43:22 New sources of capital
49:30 Private credit
52:53 Distressed investing and default cycles
55:58 Co-investment activity
57:47 ESG
1:01:40 China
1:08:53 Closing Questions

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