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Preqin unveils 2024 insights on private equity in France

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Christoph Knaack, Preqin CEO | Preqin

Preqin has released a fact sheet titled "Private Equity in France 2024," which highlights key sectors such as healthcare, technology, and energy following political shifts in 2024. The consolidation of private equity funds in 2023 led to increased capital raising with fewer funds, supported by government initiatives.

According to Preqin, the consolidation of private equity funds in 2023 resulted in an increased average fund size of €673 million, indicating a trend toward fewer funds managing larger capital amounts. Notable fund closures included Astorg VIII at €4.4 billion in May 2024 and Latour Capital IV at €1.2 billion in June 2024.

The French government's France 2030 initiative has emphasized investment in sectors like healthcare, technology, and renewable energy to foster innovation and economic development. This focus has enhanced France's appeal as an investment destination. According to Preqin, 55% of capital entering France-based funds in 2022 came from international investors, surpassing the ten-year average of 49%.

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The involvement of the sovereign wealth fund BPI France, along with industry association France Invest, underscores ongoing efforts to boost private capital investment amid political changes following Emmanuel Macron's re-election in July 2024. Collectively, they invested €36 billion in 2022.

Private equity fund managers in France have seen a significant rise in assets under management (AUM), increasing from €75.2 billion in 2014 to €242 billion by the end of 2023. Despite challenges in deal-making, managers deployed €157 billion in 2023. However, the proportion of dry powder—unallocated capital—has fluctuated since 2018 due to market uncertainties. If these issues improve, dry powder may represent a smaller share of AUM moving forward.

Preqin was founded in 2003 and serves over 48,000 clients with data on alternative assets through its team of more than 1,500 staff across global offices. The company specializes in delivering data and insights to enhance decision-making within the finance sector.

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European banking authority issues new guidelines for crypto providers to comply with restrictive measures

On November 14, the European Banking Authority (EBA) released comprehensive guidelines for Payment Service Providers (PSPs) and Crypto-Asset Service Providers (CASPs) to ensure alignment with European Union (EU) and national restrictive measures. These guidelines aim to reduce risks and strengthen compliance when transferring funds or crypto assets.

Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

UK’s digital assets bill brings much-needed clarity to digital asset regulation

On November 6, the UK government issued an updated version of the Property (Digital Assets Etc.) Bill, clarifying its approach to defining digital assets, including crypto tokens, as recognized property under English law. The update aims to provide greater security and clarity for individuals and businesses engaging with digital assets.

Nov 20, 2024

Outlier Ventures CCO: People may use a 'more efficient, much less costly system to achieve the same user benefit'

Matt Law, Chief Commercial Officer at Outlier Ventures, said that it would not "surprise" him if many people embrace "more efficient," cost-effective systems like tokenization to gain the "same user benefit."

Nov 16, 2024

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