Enterprise software stocks have indeed fallen by tens of percent during the year. Certain companies have fallen much more sharply. Valuation levels have come down significantly. It will be interesting to see if the valuation level within the PE fund has remained (at least seemingly) at the previous high level or even increased further. I don’t know what companies are within the Vista fund; divestments have probably not been made at these prices. So the valuation is not based on transaction prices but on future estimates.
The video interview about real estate funds linked in the eQ thread, and the comment in the video, was indeed interesting, stating that in the Helsinki metropolitan area, public service properties can somehow be sold at reasonable prices, but not so much in the provinces. Has Titanium now been able to sell care properties outside the Helsinki metropolitan area, and at what price? The Q1 report might provide more information. Do eQ and Titanium see the market situation in the same way, or are there differences?