Fundraising for private equity in 2024 proved to be an uphill battle for most. According to financial information and analytics provider S&P Global, private equity funds worldwide secured $680.04 billion last year, a 30% decrease from about $966.37 billion raised in 2023. Liquidity constraints among investors played a major role in this decline as global private equity exits fell to a five-year low of $392.48 billion, driven by a mismatch in valuation expectations between buyers and sellers. With limited cash distributions from existing fund positions, investors felt little urgency to redeploy capital, further dampening the fundraising landscape.

In a world in geopolitical flux, marked by escalating tensions with China, the US government is spending heavily on hardware and software that can shield the country from potential threats. These efforts are fueling private equity investment in a range of mission-critical technologies.

When OceanSound Partners announced the close of its inaugural fund with $780 million in total capital commitments and $1.15 billion in regulatory assets under management earlier this year, the firm raised the largest Latino-led first-time private equity fund. And this was accomplished amid a pandemic.