Private-market fund managers raised more money in the first half of 2020 than in all of 2019, yet as the fourth quarter proceeds, deals have dropped dramatically. With dry-powder reserves growing and pressure to spend, is a flurry of deal-making likely? Or will the trend of small deals, distressed assets, and PIPEs continue? Panelists will assess the risks and challenges posed to general partners and limited partners by the need to deploy large amounts of capital in an uncertain environment. Speculative discussion will forecast how the focus on impact investing could play out in the private markets, for both deals and fund management.