Q2 Market Review by Rupert Bell, Director of DACH
In his latest market update, Rupert Bell reflects on the market insights gained so far this year, highlighting the varied pace of recovery among firms. He looks towards our plans for the rest of the year, including opening our newest office in New York, led by Oliver Noye.
A view on the market at the end of Q2
Summer season is upon us, at last, and we are well into the third quarter of the year. As people head off on holiday, it seems a good opportunity to reflect on what we have learned from the year to date.
In my previous market update, I noted that some firms seem to be emerging from the downcycle faster than others, driven by stronger differentiation, track record and a certain entrepreneurial spirit. This continues to shape my view of the situation and, if my interpretation is correct, I believe we’re now witnessing the foundations being laid that will define success in the industry for the next 5-10 years.
In my previous market update, I noted that some firms seem to be emerging from the downcycle faster than others, driven by stronger differentiation, track record and a certain entrepreneurial spirit. This continues to shape my view of the situation and, if my interpretation is correct, I believe we’re now witnessing the foundations being laid that will define success in the industry for the next 5-10 years.
Cautious but optimistic expansion
In DACH, there has been a lot of recent activity at all levels, with firms looking to build and expand their teams. We have found that some processes have stretched out for longer than usual, with both sides showing caution before taking the final step – often for legitimate reasons, be that fundraising, vesting periods or wider sentiment; sometimes people just need more time and more exposure to get comfortable before committing.
We sensed a small wobble towards the end of Q2 where it looked as though confidence might be slipping but this now looks like a false alarm and a wave of filled placements is coming through. Market analysis by Bain & Co and other experts suggests that deal activity may not fully recover until H1 2025 and that it will take another year until fundraising is fully back on track. From our perspective at the heart of the market, firms are showing willingness to invest in people ahead of these upticks to be able to respond as the environment improves.
There continues to be significant interest in entering the DACH market from international firms growing beyond their home geographies and looking to transform into pan-European players. Germany, in particular, is a sought-after destination. We love these projects that enable us to leverage our years of experience and connections and offer genuine insights to new market entrants.
Elsewhere, our own entry into the North American market is progressing very well, led by Oliver Noye, who is now setting up shop in New York and building a strong pipeline of projects where our expertise can unlock fresh opportunities and get better results.
If you are interested in discussing trends in any of our key strategic markets in the UK, Europe, the Middle East, North America or Asia please reach out. We would be delighted to explore how we can bring value to your growth plans and accompany your journey of success.
We sensed a small wobble towards the end of Q2 where it looked as though confidence might be slipping but this now looks like a false alarm and a wave of filled placements is coming through. Market analysis by Bain & Co and other experts suggests that deal activity may not fully recover until H1 2025 and that it will take another year until fundraising is fully back on track. From our perspective at the heart of the market, firms are showing willingness to invest in people ahead of these upticks to be able to respond as the environment improves.
There continues to be significant interest in entering the DACH market from international firms growing beyond their home geographies and looking to transform into pan-European players. Germany, in particular, is a sought-after destination. We love these projects that enable us to leverage our years of experience and connections and offer genuine insights to new market entrants.
Elsewhere, our own entry into the North American market is progressing very well, led by Oliver Noye, who is now setting up shop in New York and building a strong pipeline of projects where our expertise can unlock fresh opportunities and get better results.
If you are interested in discussing trends in any of our key strategic markets in the UK, Europe, the Middle East, North America or Asia please reach out. We would be delighted to explore how we can bring value to your growth plans and accompany your journey of success.
Click below to read Rupert's profile and find his contact details.
If you would like to discuss trends or opportunities, please reach out.
Rupert's profile
