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  • 1.  where private markets are heading

    Posted 5 days ago

    Came across this 2026 private markets outlook, and it nicely captures the tension many investors are navigating right now: strong long-term conviction in the asset class, but increasing complexity underneath. Private markets continue to attract capital for diversification, access to differentiated opportunities, and active value creation but the environment is clearly evolving. 

    A few themes that stood out from an investor perspective:

    • Liquidity and exits are shifting: after a slowdown, exit activity has started to recover as conditions improve, but structures like continuation funds and secondaries are playing a much bigger role 
    • Innovation is accelerating: evergreen funds, NAV financing, and new vehicles are helping address liquidity challenges-but still need to be tested in stress scenarios 
    • Selectivity is critical: particularly in areas like direct lending and AI-linked investments, where risks around covenants, valuations, and governance are increasing 
    • Public and private markets remain interconnected: especially when it comes to pricing and valuation signals

    It feels like we're moving into a phase where success in private markets is less about access, and more about manager selection, structure choice, and disciplined portfolio construction over time.

    Would be really interesting to hear from the community:

    • How are you thinking about liquidity and exit strategies today?
    • Are newer structures (LTAFs, evergreen funds, continuation vehicles) becoming part of your allocation toolkit?
    • Where are you seeing the most compelling opportunities-or risks-right now?

    Always great to compare notes across the community



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    Aya Pariy
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  • 2.  RE: where private markets are heading

    Posted 9 hours ago

    Thanks for sharing Aya.
    From conversations (as a GP) with investors (LPs), there remains a focus DPI, innovative fee structures, and continued demand for evergreen product.
    On the latter, despite headlines regarding some (mostly) private credit evergreen strategies earlier in the year, the product structure is increasingly understood and adopted. With greater adoption comes an opportunity to move beyond the typical asset classes employed (PC, infra, property, PE) and into newer offerings - such as venture and emerging markets. That said, some investors are cautious on valuations and heightened volatility in markets, which could see liquidity (i.e. a shift from private into public) coming back in favour.



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    Rajiv Subhas Gohil
    Global Head of Distribution
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