3.5 Digitization and the growth in alternative investments ƒ Falling tech valuations in public markets have also begun to hit many DANIEL O’DONNELL private companies needing equity capital in the second half of 2022 Global Head of ƒ With tech firms still needing to raise equity and debt Alternative Investments capital, we see opportunities for alternative managers to make potentially attractive add-on investments JEFFREY LOCKE Global Head of Private Equity ƒ Once rates peak and then reverse, investors are and Real Estate Research likely to refocus on digitization’s long-term potential and Management once more as public valuations recover ƒ For suitable investors, we favor technology-focused strategies MEGAN MALONE from venture capital, growth, buyout and private debt managers Head of Private Equity and Real Estate, Americas STEFAN BACKHUS Head of Private Equity, Americas Citi Global Wealth UUNSNSTTooPPPPABLABLe Tree TreNDNDSS | | || 68 68 Investments