Private Markets: A Post-Pandemic Reset

Boardroom Governance Newsletter #57 | Oct 6, 2024

Good morning! I'm on my way to Brazil to speak at the IBGC annual summit, so I'm publishing this newsletter on a Sunday as an exception.

Recent discussions about the state of private markets—including venture capital and post-pandemic exit levels—have been quite interesting. Last month, Thomas Laffont of Coatue gave an insightful presentation at the All-In Summit in LA. You can see his full presentation below, but here are some key takeaways:

• Funding is still pretty healthy but exits remain depressed. There have been few IPOs, and most have performed poorly. Mergers and acquisitions have faced regulatory antitrust hurdles¹, and private equity firms have executed fewer buyouts despite record levels of dry powder.