What’s ahead for private markets – and where opportunities lie
The private market landscape has shifted. Years of ultra-low interest rates fuelled rapid growth and widespread institutional adoption, with investments often delivering desired outcomes with relative ease. But that momentum has given way to a more challenging environment – marked by slower exits, tighter capital, and greater scrutiny.
In response, investors are rethinking how they allocate capital, manage risk, and access opportunity. Evergreen structures are gaining traction, opening private markets to a broader investor base. And structural forces - from demographic change to defence spending - are reshaping where long-term value will come from.
So, which trends will define how investors build portfolios in the years ahead?
Ten trends reshaping private markets
These ten trends reveal how private markets are changing – and what’s driving the shift.
- (Im)patient capital
Distributions are lagging. We expect investors will turn to strategies with faster return profiles and clearer exit pathways. - Wealth dips its toe in the private market pool
Evergreen funds are gaining traction. We explore how they’re broadening access – especially for wealth investors. - A K-shaped exit recovery?
A handful of mega-deals may dominate the exit landscape. See how this could reshape liquidity pacing and return dynamics. - Global defence built with private capital
Private capital is playing a growing role in defence innovation, as geopolitical tensions drive investment in security tech. - A new era of growth for secondaries
Secondaries are evolving from safety valve to strategic tool. Learn how they’re helping investors manage portfolios more actively. - Continuation vehicles come of age
Private equity firms are holding onto high-conviction assets. Explore how continuation vehicles are offering more flexibility around liquidity. - Private credit diversifies into new frontiers
Private credit is expanding into consumer finance, infrastructure and real estate debt. We examine where the next wave of growth may lie. - Public and private credit converge
Issuers are moving fluidly between markets. Discover why investors are rethinking credit as a spectrum, not a silo. - A reshuffling of CRE growth drivers
Demographics, innovation and housing shortages are redefining commercial real estate. Learn what’s driving the new opportunity set. - A new industrial cycle in Europe
E-commerce, defence and infrastructure spending are fuelling demand for logistics assets. See where momentum is building across the region.
Discover the full story
These trends are shaping the future of private markets.
Read the full report to explore the insights and strategic implications for investors.
WHAT ARE THE RISKS?
All investments involve risks, including possible loss of principal.
Investments in many alternative investment strategies are complex and speculative, entail significant risk and should not be considered a complete investment program. Depending on the product invested in, an investment in alternative strategies may provide for only limited liquidity and is suitable only for persons who can afford to lose the entire amount of their investment. Diversification does not guarantee a profit or protect against a loss.