Private equity is evolving as firms navigate shifting investment strategies, economic uncertainty, and increasing demands for transparency. Rising interest rates, changing regulatory landscapes, and growing retail investor participation are reshaping fundraising dynamics and risk management. The industry is experiencing a surge in secondary market transactions and a greater emphasis on operational value creation over traditional financial engineering. At the same time, firms are increasingly investing at the intersection of the economy, technology, health care, and innovation—exploring opportunities in digital infrastructure, private credit, and emerging sectors. As private equity adapts to these changes, how can firms mitigate risks while identifying new avenues for growth? What role will technology and policy shifts play in shaping the industry's future? This discussion will provide a comprehensive look at the forces driving private equity today and how firms can stay ahead in a rapidly changing market.