Private markets are adjusting to a world of depressed distributions, and it looks like LPs hoping for greater liquidity in 2025 may instead need to brace themselves for another dry year.

European equities are gaining investors’ interest because of their lower valuations, higher dividend yields and better insulation from tariff risks than their U.S. counterparts.

“Survive Until ‘25” was the mantra for global real-estate investors during the prolonged slump — but it turned out to be “Surprise in ’25.” We discuss the new investor caution in commercial real estate, just as the market seemed to be getting back on its feet.

We highlight key performance trends across private equity, private credit and private real assets, using data for over 14,500 closed-end funds, representing capitalization of nearly USD 12.3 trillion as of Q4 2024.

Australian companies managing sector-specific sustainability risks effectively experienced improved equity-market performance, highlighting the value of tailored sustainability strategies in investment processes.

APAC companies have shown substantial improvements in MSCI ESG Ratings in recent years, highlighting enhanced corporate awareness, increasing sustainability disclosures and strong upgrade momentum in markets such as China, Taiwan and South Korea. 

Nature loss is a rising risk to the global economy, disrupting supply chains, raising costs and slowing growth. Investors — such as asset managers, insurers and banks — who use geospatial analysis are better positioned to manage these location-specific risks.

Zombie private-equity funds are carrying unusually high net asset values due to persistently low distribution rates. This trend challenges traditional cash-flow models and raises concerns about liquidity in private-capital portfolios.