Stifel Financial Corporation · NYSE:SF
Stifel Financial — Investor Presentation (2023)
12 slides from Stifel Financial's investor presentation, Nov 15, 2023
Slide 1: Private Equity LP Pulse Survey Results Summer 2023
PRIVATE EQUITY LP PULSE SURVEY RESULTS Summer 2023
Slide 2: How are you managing managers back in market with their next fund?
Private Equity LP Pulse Survey: Summer 2023 Generally speaking, how are you managing the increased volume of existing managers “back in market” with their next fund? Select top 3 100% 90% 80% 44% 70% 40% 60% 50% 40% 57% 57% 30% 44% 50% 20% 32% 10% 0% 2% 11% 5% 0% Lowering my Reducing the Considering
Slide 3: Expected volume of existing managers back in market in 2024
Private Equity LP Pulse Survey: Summer 2023 In 2024, what do you expect the volume will be for your existing managers “back in market” with their next fund? 100% 90% 80% 70% 59% 60% 50% 40% 30% 49% 20% 28% 23% 20% 10% 0% 11% 4% Increase from 2023 Decrease from 2023 6%Similar to 2023 3
Slide 4: Changes considered to private equity allocations over next 6-12 months
Private Equity LP Pulse Survey: Summer 2023 What changes are you considering making to your private equity allocations over the next 6-12 months? 100% 90% 80% 70% 60% 50% 40% 61% 30% 20% 20% 10% 21% 9% 2% 16% 0% 0% Increase significantly Increase modestly Cut significantly Cut modestly No change 4
Slide 5: Increasing allocations in 2024 to asset classes
Private Equity LP Pulse Survey: Summer 2023 Will you be increasing allocations in 2024 to any of these asset classes? Check all that apply 100% 90% 80% 89% 70% 62% 60% 58% 50% 40% 36% 65% 20% 30% 16% 7% 4% 20% 39% 30%9% 10% 26% 13% 0% Venture Capital Growth Equity Buyout Structured Equity Distressed
Slide 6: Decreasing allocations in 2024 to asset classes
Private Equity LP Pulse Survey: Summer 2023 Will you be decreasing allocations in 2024 to any of these asset classes? Check all that apply 100% 90% 80% 70% 60% 44% 50% 71% 40% 61% 30% 29% 20% 20% 27% 10% 29% 14% 14%9% 0% 5% Venture Capital Growth Equity Buyout Structured Equity Distressed/ Special S
Slide 7: Increasing allocations to sectors
Private Equity LP Pulse Survey: Summer 2023 Will you be increasing allocations to any of these sectors? Check all that apply 100% 90% 80% 70% 60% 80% 50% 40% 60% 27% 30% 20% 35% 30% 15% 10% 10% 15% 11% 10% 0% Healthcare Consumer Industrial Technology/ Impact/ Financial Other IT Energy Services Trans
Slide 8: Decreasing allocations to sectors
Private Equity LP Pulse Survey: Summer 2023 Will you be decreasing allocations to any of these sectors? Check all that apply 100% 90% 80% 70% 60% 50% 40% 30% 27% 41% 41% 20% 35% 15% 10% 18% 11% 6% 6% 0% 0% Healthcare Consumer Industrial Technology/ Impact/ Financial Other IT Energy Services Transiti
Slide 9: Best investment opportunities outside the United States
Private Equity LP Pulse Survey: Summer 2023 What geographies outside of the United States do you see as the best investment opportunities for private equity today? Select top 3 100% 90% 80% 70% 52% 60% 50% 65% 40% 32% 20% 30% 41% 20% 27% 24% 9% 10% 3% 19% 0% 16% 3% 3% 0% 0% None United Continental M
Slide 10: Most important criteria when evaluating a new private equity investment
Private Equity LP Pulse Survey: Summer 2023 What do you believe are the most important criteria when evaluating a new private equity investment? Select top 3 100% 90% 80% 76% 70% 60% 50% 75% 40% 57% 30% 45% 48% 20% 36% 10% 20% 18% 14% 2% 0% Pre- Availability Team Total return Risk- Fees and GP Fund
Slide 11: Greatest risks to private equity performance today
Private Equity LP Pulse Survey: Summer 2023 What do you see as the greatest risks to private equity performance today? Select top 3 100% 90% 80% 70% 60% 82% 50% 40% 59% 30% 27% 39% 34% 20% 25% 15% 25% 10% 18% 11% 0% Inflation Recession Tightening Geopolitical Declining Increasing Long term credit co
Slide 12: Important Notice
IMPORTANT NOTICE 2023 Online survey of 44 global leading LPs was conducted from June 20, 2023 through July 26, 2023.