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  "documentTitle": "ey ivca monthly pe vc roundup december 2022",
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      "text": "The 2020 EY Megatrends report outlines four primary forces that are the root causes of disruption in the modern world: technology, demographics, globalization and environmental issues.",
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      "text": "Technology is changing business models and demanding increasing digital investment (and a workforce with the appropriate skills).\nA rapidly aging population needs PE to bridge the gap in pension funding.\nGeopolitical upheaval is reducing certainty and increasing unpredictability, requiring firms to rethink their investment and operating strategies to maintain competitiveness.\nAs the impact of the COVID-19 pandemic has highlighted, resilience is a particular focal point for firms and their portfolio companies.\nChanges in the environment are precipitating a shift in the way people consume and produce goods.\nGrowing interest from limited partners (LPs) in responsible investing will cause PE firms to more strongly consider environmental, social and governance (ESG) elements in their investment strategy. As millennials continue to make up a growing portion of investors, reporting will need to be more digestible, customizable, and accessible.\nPE firms also need to embrace the concern for ESG issues shown by younger generations entering the workforce.\nSocieties are recognizing the need to remove unjust barriers to civic inclusion. There is a greater focus on the idea that businesses must do better with respect to improving the diversity of their workforces and making all voices heard.",
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      "text": "The 2020 EY Megatrends report outlines four primary forces that are the root causes of disruption in the modern world: technology, demographics, globalization and environmental issues. Both separately and together, these forces will steadily impact the PE industry in the coming years:",
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      "text": "PE firms are having to navigate an increasingly complex and competitive environment. Not that they haven't adapted to change before; the past decade has seen tremendous growth in PE and massive changes in the capital markets. From their roots in commingled buyout and venture funds, PE firms have innovated a wide array of vehicles designed to provide funding at virtually all stages of a company's life cycle. However, the challenge over the next 5-10 years will be markedly different. It will be about finding ways first to adapt, then to compete, and ultimately to thrive in an environment of accelerating change.",
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      "text": "As PE moves into the next phase of its story, firms are contending with globally disruptive forces as well as trends that are specific to the industry.",
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