« back to reports
PitchBook Analyst Note: US PE Firm Style Drift

Q2 2021

PitchBook Analyst Note: US PE Firm Style Drift

April 1, 2021

PitchBook Analyst Note: US PE Firm Style Drift
Download report
Specialists on the rise in PE

Private equity is increasingly a game for specialist fund managers. In our latest research note on manager style, PitchBook analysts break down the evolution of the specialized GP. Highlights include:
 
  • The overarching trend in PE is for managers to specialize and focus on certain sectors, with the proportion of specialist firms in the US up 50% the past decade.
 
  • Established firms have tended toward specialization, a trend that is here to stay.
 
  • In recent years, nearly half of all newly formed managers were specialists—more than twice the rate from one decade ago.