Insights

Private markets: Driving success in volatile environments

2025 Private Markets Outlook

Private markets are shifting – and leading firms aren’t just watching; they are responding.

June 2025


Scott Carpenter

Global Head of Alternatives

Jesse Cole
Head of Private Markets, Product

James Redgrave
Vice President of Global Thought Leadership

Our fourth annual study, built on insights from nearly 500 senior executives1 at top buy-side firms, reveals a new reality – what were once emerging trends are now essential strategies.

  • Democratization: The industry is witnessing a transition towards more inclusive and accessible investment opportunities, breaking barriers for a wider range of investors. 55 percent of survey respondents believe that at least half, if not more, of private markets fundraising will come through semi-liquid retail-style vehicles within the next two years.
  • Focus on quality: There is an increased emphasis on high-quality assets and investments, ensuring long-term value and stability in portfolios. Our latest data suggests that the move from quantity to quality is now entrenched in investment strategies.
  • AI adoption: Next-generation artificial intelligence (AI) technologies are being integrated into investment strategies, enhancing decision-making processes and driving innovation. 83 percent of institutions recognize the value of GenAI-based large language models (LLMs) to generate analyzable data and usable insights from unstructured information across various areas within their private markets operations.

These trends aren’t on the horizon – they’re happening now. The industry is progressing from talk to action and investors are moving fast. Discover how top investors are navigating through this transformation in our exclusive report.

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