Co-Chief Executive Officer & Member of the Board, Hamilton Lane
Search every verified Juan Delgado-moreira interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2024 interview, Hamilton Lane Co-CEO Juan Delgado-Moreira discussed current conditions in private markets. He stated that while artificial intelligence is an important sector in venture capital and growth, it is "just a component of the range of Alternatives" within private markets. Regarding exits, he noted that IPOs have historically accounted for no more than a quarter to a third of private market exits, with other strategic sales and secondary purchases being the main alternatives; he described the IPO pipeline as "getting more active" but pricing as subdued. Delgado-Moreira characterized 2023 fundraising as "the weakest link" but also as one of the top 10 fundraising years in the industry's history. He said the average holding period for assets has moved to about five years, making "fundamental growth" essential. He observed that buyout strategies are focusing on sectors with "fundamental tailwinds" such as healthcare, consumer areas, logistics, and infrastructure. He emphasized that private markets investing is about buying companies, aligning management, and making them "better and bigger companies," and that value creation requires multiple avenues for growth given an uncertain future.
“AI is an important sector particularly in venture capital and growth but it's just a component of the range of Alternatives that you can have within private markets.”
“IPO for the overall private Market is really never been more than about a quarter to a third of the exit path and of course that is at the moment slightly subdued although the pipeline is getting more active.”
“The other two main exits for private Equity are other strategic so other corporates other companies and essentially other forms of private markets ownership other funds other GP continuation Vehicles secondary purchases.”
“Fundraising has been the weakest link but you have to also accept that when you looked at 2023 and we looked at the year it's really one of the top 10 fundraising years in the history of the industry going back 50 years.”
“The average holding period has moved up to 5 years so if you're going to buy something that doesn't look very cheap and you're going to hold it for about five years, it's all been about growth, fundamental growth.”
“Buyout strategy focusing on sectors with fundamental tailwinds like healthcare, the consumer in certain areas, logistics, infrastructure.”
“With the exception of early stage in venture capital investing that can invest pre-profit, this is an industry about buying companies, owning them, aligning management, incentivizing that and making them better and bigger companies.”
“The reason why private markets outperform was precisely because they were growing Top Line and bottom line ahead of the public markets and that continues to be very much the focus.”
“A lot of M&A happening in the bio industry at the moment are multiple paths essentially today when you look at investment committee everyone must have multiple avenues to achieve that growth because the future still looks uncertain.”
Juan Delgado-Moreira, Co-CEO of Hamilton Lane discusses the current issues facing the private market.
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