The big five public US PE firms delivered steadfast financial results despite the lingering effects of the global pandemic. Managing so many different funds and strategies has afforded these public GPs the ability to play offense while smaller GPs are struggling to survive. Many of the firms opportunistically expanded and now offer additional strategies, while others pulled forward fundraising timetables. Some managers set new fundraising high-water marks in a quarter while nearly all were seeking to tack on AUM through insurance acquisitions. The steady rise in AUM and fee income helped their stocks outperform the broader market over the last quarter and 12-month period.
