Private equity companies are facing just as many challenges as their publicly-listed counterparts, according to the latest State Street Private Equity Index.
For the third quarter of last year the index revealed an 8.4 per cent decline.
Commenting on the result, State Street Corporation vice president Gerard J Labonte said private equity companies were facing the same difficult economic conditions that were affecting public markets.
"As private companies are reassessing and revising downward their near-term growth outlooks in the face of a global recession and tight credit markets, private company valuations are also under pressure to be reduced," he said.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
Add new comment