Private Equity in Transition: Liquidity, Risk, and the Next Phase of Growth

Private equity continues to play a central role in institutional portfolios, but higher interest rates, slower exits, and valuation pressure are reshaping investment strategies. General partners and limited partners are adapting through secondaries, continuation vehicles, infrastructure investments, and new approaches to liquidity and portfolio construction. As the industry evolves, firms must balance disciplined capital deployment with long-term value creation. How is private equity adapting to today's market environment? Which strategies are creating the greatest opportunity? And what will drive the next phase of growth across global private markets?