Many limited partners in private equity are grappling with internal resource constraints, particularly around recruiting high-quality talent, at the very time that competition is heating up for access to popular funds.

Why it matters: This is a recipe for under-performing investments.

63% of respondents said the "scale of our resources" is a significant constraint on improving returns, with 58% specifically citing hiring difficulties.

Over half of respondents (55%) say there is more pressure today to commit to a first close than there was just a few years back, with 61% saying they committed to a first close because of increased LP competition.

More survey results:

  • 62% believe too much money is chasing too few deals in North American buyouts. That figure dips to 50% for Europe and just 26% for Asia-Pacific. For venture capital, those numbers go 54%, 23% and 26%.
  • 39% of respondents plan to increase overall allocations to alt assets over the next 12 months. 51% plan to increase allocations to infrastructure and 40% to private credit, while 16% plan to decrease allocations to hedge funds.
  • 39% of European LPs say ESG is an essential component of investment decisions, whereas only 9% of North American LPs say the same.
  • One-third of respondents either have invested in a GP management company, or would consider doing so.

Go deeper

The positions of key GOP senators on replacing Ruth Bader Ginsburg

Senate Majority Leader Mitch McConnell talks to reporters on Capitol Hill last Thursday. Photo: Chip Somodevilla/Getty Images

With President Trump planning to nominate his third Supreme Court justice nominee by next week, key Republican senators are indicating their stance on replacing the late Justice Ruth Bader Ginsburg just over six weeks out from Election Day.

The big picture: Senate Majority Leader Mitch McConnell (Ky.) has vowed that "Trump’s nominee will receive a vote on the floor of the United States Senate." But Sen. Lisa Murkowski (Alaska) told Alaska Public Media, "I would not vote to confirm a Supreme Court nominee. We are 50 some days away from an election."

Updated 19 mins ago - Politics & Policy

ActBlue collects a record $91 million in hours after Ginsburg's death

A makeshift memorial in honor of Justice Ruth Bader Ginsburg in front of the U.S. Supreme Court on Sept. 19. Photo: Samuel Corum/Getty Images

ActBlue received a record $91.4 million in the 28 hours following Supreme Court Justice Ruth Bader Ginsburg's death, the Democratic donation-processing site confirmed to Axios late Saturday.

Why it matters via the New York Times: "The unprecedented outpouring shows the power of a looming Supreme Court confirmation fight to motivate Democratic donors."

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 30,674,077 — Total deaths: 955,440— Total recoveries: 20,908,811Map.
  2. U.S.: Total confirmed cases as of 11:30 p.m. ET: 6,764,803 — Total deaths: 199,258 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19.
  5. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.