Following the “year of reckoning” of the global economy in 2022, the environment has only grown more difficult, says Koh. Although 2023 saw a slight recovery in public markets, only the Standards & Poors (S&P) “Magnificent Seven”, which refers to seven technology stocks, have dominated a large portion of the index.
The “golden era for secondaries” in private markets will carry on into 2024 while public markets continue to slowly recover after 2023, according to Hamilton Lane’s head of Southeast Asia, Kerrine Koh.
Koh refers to the recent trend in investors buying and selling a slice of private markets to rebalance their portfolio away from being public market dominant into private markets touted by its supporters as more resilient and offering better opportunities.
