I am very bullish around European thought leadership and commitment around ESG and Climate topics. Carolina Brochado Partner, EQT Ventures From the increasingly robust EU regulatory landscape to shifting con- sumer behaviours, prioritising the different areas of ESG is a trend that is very pronounced in Europe, which I believe will pave the way for large future companies to be established which will pioneer innovation in soft- ware & tech while also driving positive change. A third of LPs have actively explored proactive liquidity opportunities The knock-on effect of a muted exit landscape is a lack of distributions to LPs, creating the liquidity issues that so many LP survey respondents highlighted as a key challenge. As a consequence, this has led a signi昀椀cant number of LP respondents to proactively explore alternative liquidity opportunities, such as seeking secondary buyers for positions in their GP portfolio. According to the survey, 35% of respondents have spent time in 2023 exploring these potential opportunities, though only a small number of respondents (6%) have spent signi昀椀cant time on this. The main drivers of LP portfolio sales include the derisking of maturing programmes (especially for pension funds), the resizing of portfolios to rebalance allocations, enabling consistent deployment and preserving vin- tage year diversi昀椀cation by unlocking new commitments, enabling a reallocation away from legacy strategies, as well as as cutting non-core relationships. So far in 2023, has your fund looked for liquidity opportunities (e.g. selling secondaries)? Source 35% of LP respondents state they have spent time seeking liquidity opportunities 207 | Fundraising