Wheel of fortune

After two years of reduced activity, the capital markets flywheel is spinning faster again. According to Dealogic, the strength in capital markets which began in 4Q23 continued with merger and acquisition (M&A) volume and initial public offerings (IPO) volume both up more than 30% year-on-year on in 1Q24. Furthermore, consultancy EY points out that M&A activity continued in April, rising 30% year on year. As our New World Financials team discussed in their recent paper, these trends should provide continued support for alternative asset management companies.

Source: Dealogic, EY, Robeco, May 2024