This monologue podcast focuses on the current imbalance in the supply and demand of private equity fund flows. The speaker, Ted Seides, explains that the mismatch, originating in 2019, stems from factors such as faster fundraising, slower GP exits, and the denominator effect. He argues that while some liquidity solutions exist (continuation vehicles, secondaries, SPACs), a return to "normal" fund flows is unlikely in the near future, with LPs likely prioritizing public market strategies initially. Seides concludes that GPs need to adjust their expectations and explore alternative capital sources, such as private wealth and sovereign wealth funds, to secure funding.
