Will 2024 be a year when exits pick up, freeing LPs to reinvest, or will it be another year of PE firms pursuing alternative means of creating liquidity? Here, industry experts have their say. Tessa Agar, a Private Equity partner, is seeing an increase in exit preparations. "There remains a sense of caution given the continual impact of high interest rates, valuation gaps and the availability and cost of leverage," she said to Pitchbook. "All of which dampened deal activity throughout 2023." However, Agar feels the situation will be different entering into 2024. "These are no longer new challenges, and PE funds have spent much of 2023 adapting and strategizing. We should start to see the fruits of that labor through a broad range of exit processes, from smaller exits achieved through PE's continued focus on buy and builds to alternative exit/funding strategies by way of take privates, GP-led secondaries, use of continuation funds and NAV and hybrid facilities."