While private equity returns were modest in 2024, the potential for improving deal and exit activity may suggest a more favorable environment ahead. Although distributions have remained below historical levels, a backlog of companies needing liquidity provides an opportunity for increased secondary market volume. As a result, complexity has increased with the proliferation of continuation vehicles and NAV lending, requiring the ability to evolve and adapt alongside the asset class. Read the 2025 Private Equity Strategy Outlook to find areas of investment focus and more.
