Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.
Artificial intelligence is making waves across all industries, but how is private equity keeping up? Pictet Alternative Advisors surveyed PE general partners to learn whether firms already have an AI strategy in place and what barriers there are in adopting the technology. We’ll dive into those figures this morning.
Sticking with data, we have a potential deal, as KKR and ICG are in preliminary talks with the UK’s GlobalData.
We then delve into another report, this time on wealth management. Investment bank Lincoln International listed key trends in the UK wealth management sector – I’ll share some highlights from the report.
We stick with financial services to finish, as Eurazeo has acquired the remaining shares in an asset management business specializing in biotechnology and medical innovation.
AI impact
Two thirds (68 percent) of private equity general partners expect AI to reduce their costs of doing business and more than 60 percent report a revenue increase in their portfolio companies as a result of the technology, according to a survey by Pictet Alternative Advisors (PAA).
To learn what percentage of respondents use AI in processes already and what barriers PE firms raised in the survey, check out the premium Wire coverage.
In talks
ICG and KKR are vying with one another to take GlobalData, a London-headquartered and listed data and analytics provider, private.
To learn the schedule for firm offers and more, take a look at the full Wire coverage.
Wealth of opportunity
The UK’s addressable wealth management market is valued at over £2 trillion ($2.6 trillion; €2.3 trillion), with approximately 30 percent serviced through the financial advice sector, according to Lincoln International.
If you'd like to know what role AI plays in the segment and what Lincoln's outlook for UK wealth management is, take a look at the premium Wire.
Managing health
Sticking with financial services but hopping over to France. Eurazeo has acquired the remaining shares in Kurma Partners, an asset management company specializing in biotechnology and medical innovation.
For more, including how much Eurazeo has committed to Kurma funds so far, take a look at the full Wire coverage.
That’s all from me. Keep an eye out for the US Wire later today by Michael Schoeck. Irien Joseph is in the Europe chair as usual tomorrow.
Cheers,
Nina
Read the full Wire commentary on PE Hub ...
