BeBeez Trading Floor roundup with eToro support about the performances of private capital firms listed on global exchanges.
The recent developments in the money markets suggest that investors are pricing in monetary tightening measures: the ECB and the Bank of Japan already raised interest rates, whilst the Fed shifted its stance, which flattened the yield curve with short-term rates rising and long-term rates falling – a typical sign of an overheating economy. A general trend towards rising interest rates is not good news for private equity nor for private debt, with the latter having to contend with the cost of funding and debt. Indeed, NYSE-listed KKR’s recent issue of senior unsecured bonds (-7.1%), placed at a yield of 7.5%, left a lasting impression on investors.
Against this unfavourable backdrop, a storm of redemptions broke out as individual private investors who feared that the growing illiquidity of portfolios – particularly those that private equity firms manage – would put their investments at risk. In June 2026, the same issue arose for Anglo-Swiss firm Partners Group and operators whose funding relied most heavily on semi-liquid or evergreen vehicles facing risks of redemptions.
Such perception is hardly impacting NYSE-listed Ares Management (-15%).
London-listed 3i plc (+15%) and Bruxelles-listed investment firm Gimv (+3.8%) benefited of other factors. In its latest quarterly results, Dutch discount retailer Action, which makes 73% of 3i Nav, reported revenue growth of over 3%, above 2% of the expected consensus. Traders reassessed therefore the group and the British fund manager’s NAV.
Investors favoured Gimv for its solid business recently received the support of a 400 million euros credit line, a low leverage and a buy and build strategy that led it to acquire a controlling stake in French Cap Vert from Italian private equity Ambienta (see here a previous post by BeBeez)
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