Private Markets Edit: Private equity and venture capital markets

Has the music stopped for private equity and venture capital?

This edition of the Private Markets Edit focuses on private equity and venture capital. It brings together a range of timely insights on trends—not only within the asset classes themselves, but also in the new tools available to investors to address accessibility and liquidity concerns—as well as the drivers of activity and returns in these markets. Insights from industry leaders such as PGIM, Kroll, and KPMG help allocators navigate the evolving, but not stopping, landscape of PE and VC.

Continuation Vehicles Redefine Private Markets (PGIM)

Continuation vehicles now enable GPs to extend ownership of high-performing companies while offering LPs flexible exit options, reflecting the broader dynamics happening within private markets today.

Is Private Equity Becoming Riskier? (Natixis IM)

For compliance reasons, this paper is NOT accessible in the United States and Canada

A burst of financial innovation is designed to boost distributions. But PE investors don’t need to take undue risks to access liquidity; they need to do their homework, particularly around manager selection.

Spotlight on the World's Largest and Most Liquid Unicorns (Morningstar Indexes)

The key trends, performance drivers, and the growing role of late-stage private companies in defining today’s modern equity markets.

Private Equity House Views 2026 (StepStone)

The private equity market is navigating ongoing macro uncertainty, evolving trade dynamics, and a gradual reopening of deal and exit markets. What does this mean for investors in 2026?

The Venture Capital Challenge for Europe (VoxEU)

Three avenues for reform to close the venture capital gap in Europe: undoing the segmentation of capital markets, supporting a few innovation clusters, and emulating success stories from other countries.

Navigating the Subtleties of Private Markets Fund Structures (Ares)

Evergreen fund structures are reshaping access to alternative assets. Understanding the differences between these and traditional drawdown funds can help inform private market allocation decisions.

Global Private Equity Report 2026 (Bain & Company)

Private equity found some momentum heading into 2026, but winning amid high asset prices and elevated interest rates will be harder than it has ever been.

Road to Next Q1 2026: The Exit Market Is Back (Deloitte)

An examination of the exit market’s resurgence amid ongoing selectivity, and the role of buyouts, secondaries, and private credit in expanding liquidity options.

Revolutionizing the PE Telco Investment Thesis (Arthur D. Little)

Closing the returns gap in the telecom sector: a new path to communication service provider value creation.

The Paradoxical Push to Democratize Private Markets (ECGI)

Efforts to open private assets to retail investors are often framed as a long-overdue democratization of superior investment opportunities, but does retailization erode the very benefits private markets offer?

Three Levers That Drive VC Returns (CFA Institute)

Once you strip away what investors do not control, such as exit multiples, early-stage venture capital reduces to just three economic levers that determine how much cash LPs ultimately keep.

Secondaries in Focus: Market Maturity and the Next Phase of Growth (AIC)

Examining secondaries as increasingly essential liquidity tools, particularly as retirement plans and retail investors expand exposure to private markets.

A Creative Alternative for LPs Looking to Generate Liquidity (Dawson Partners)

A look at LP Financing Solutions as a structured alternative that can enable LPs to generate liquidity without sacrificing strategic relationships or long-term upside potential.

The Created Value Attribution Handbook (Kroll)

A comprehensive and intuitive look under the hood of private equity investments for greater transparency into GP-driven operational and/or strategic value add.

2026 Global M&A Outlook (KPMG)

In today’s environment, carve-outs are moving to the center of M&A portfolio strategy, and execution capability is emerging as a defining institutional advantage.

IPO Report 2026 (Wilmer Hale)

What are the effects of current market conditions on issuers in key industries? And what are the attributes shared by successful IPO candidates?