The convergence of public and private markets is accelerating, but fees in semi-liquid private market vehicles are currently three times higher than typical mutual funds—creating a steep hurdle that threatens widespread adoption. Kunal Kapoor, CEO of Morningstar, warns that without dramatic fee compression, the industry's mainstream ambitions will stall despite growing investor interest.

What's New According to PitchBook's Q2 2025 US Public PE and GP Deal Roundup , major private equity firms deployed $21 billion in...

Morningstar CEO Kunal Kapoor, speaking at the 2025 Morningstar Investment Conference in Chicago, outlined how his firm is responding to this fundamental shift by extending its analytical framework to cover private investments.

Private markets' spreadsheet-based infrastructure will be fully automated by AI within years, not decades.

Erik Hirsch, co-CEO of Hamilton Lane, which manages nearly $1 trillion in private assets, detailed this credit revolution and its implications for both borrowers and investors on Bloomberg's Masters in Business podcast with Barry Ritholtz.

Private wealth investors currently allocate just 3-5% to alternatives compared to 20-50% for institutions, representing a massive untapped opportunity that could reshape the entire asset management industry over the next decade. Peter Aliprantis, Partner and Head of Private Wealth Americas at EQT, argues that evergreen structures and improved investor education will drive this transformation.

Blue Owl Capital delivered a record-breaking Q2 2025 performance with $12.1 billion in equity fundraising and $284.1 billion in AUM (up 48% YoY), marking the 17th consecutive quarter of management fee and FRE growth. The alternative asset manager continues aggressive expansion through strategic acquisitions and new product launches, positioning itself at the intersection of AI infrastructure demand and private credit markets while successfully scaling institutional and privat

Philipp Freise, Co-Head of European Private Equity at KKR and manager of Europe's largest private fund at $8 billion, argues that the current hangover from 2021's artificial liquidity surge is cyclical rather than structural, though resolution requires fundamental changes to how capital flows to individual investors.

Private markets are experiencing a structural shift as evergreen fund structures democratize access to previously exclusive investments, with industry veterans warning that despite rapid growth, the space remains in its early innings.

What's New The UK is implementing sweeping reforms to channel private market investments into domestic growth, with the Mansion House...

Private credit faces mounting challenges as the $1.7T market confronts transparency demands, liquidity pressures, and fee scrutiny. Key developments include Octagon's $33B direct lending push, BlackRock's 401(k) expansion, and PGIM's $1T merger. Industry veterans warn of market recalibration as PE distributions hit crisis lows while semi-liquid funds surge to $344B, signaling sector maturation amid growing retail access and regulatory evolution.RetryClaude can make mistakes.

Japan's exit from zero rates is creating the biggest private markets opportunity in Asia after 30 years of stagnation.

Private credit has emerged as the must-have alternative asset class for advisors seeking higher yields and portfolio diversification beyond traditional 60/40 allocations, yet accessing this historically institutional-only market remains challenging for most investors.

In Brief: Bryan Armour, director of ETF and passive strategies research for North America at Morningstar Research Services, discussed...

BlackRock executives presented their comprehensive private markets expansion strategy at their 2025 Investor Day, outlining how the world's largest asset manager plans to double its operating income by 2030 through aggressive growth in private credit, infrastructure, and technology platforms.

Lincoln Financial CIO Jayson Bronchetti explains how insurance companies' patient capital and distribution networks are democratizing private markets for mainstream investors through strategic partnerships with firms like Bain Capital and Partners Group.RetryClaude can make mistakes. Please double-check responses.

State Street's fourth annual Private Markets Study, led by Global Head of Alternatives Scott Carpenter, reveals a seismic shift in how institutional investors view the future of private markets.

SEC Commissioner Hester Peirce delivered a forceful call for dismantling barriers that exclude retail investors from private markets, going so far as to advocate for complete "elimination of the accredited investor standard."

Eric Mogelof, head of Global Client Solutions at KKR, reveals how the $640 billion alternative investment giant transformed from serving only institutions to aggressively pursuing private wealth over the past five years. Speaking on the Capital Allocators podcast, Mogelof identifies a structural market shift where individual investors allocate just 2-3% to alternatives compared to institutions' 20-50%, representing trillions in potential capital flows.

Todd Owens, co-founder of Cantilever Group and 30-year finance veteran, discusses the evolution of GP Stakes investing in alternative asset management during a live podcast with Alt Goes Mainstream host Michael Sidgmore. His firm focuses on middle-market asset managers ($50-500M enterprise value), where he sees significant growth opportunities despite industry consolidation. Owens explains how the GP Stakes market has transformed from nonexistent 20 years ago to a legitimate