Direct lending pricing is at least 50 basis points wider than last year, with tighter leverage. J.P. Morgan Asset Management's Jeff Bracchitta argues this year's pullback has started a better vintage for lenders.

Private equity fundraising has split into fast, slow and stalled lanes even though LP allocation budgets remain intact. Adam Turtle of Rede Partners argues that investors are re-examining managers and sectors, and that DPI now serves as proof that marks are real.

Blue Owl's Real Assets AUM rose 27% to $94.9 billion while Credit fee-paying AUM held flat at $97.0 billion. Blue Owl Capital's latest earnings show its growth now runs through net lease, real estate credit and digital infrastructure rather than direct lending.

TPG's fee-related earnings rose 43% to $321 million while realized performance allocations fell to $7 million. Jon Winkelried and Axel André of TPG argue that a broader fundraising base and rising management fees now drive the firm's growth without waiting on exits.

Closed-end fundraising remains roughly half a trillion dollars below its peak, while evergreen, retail, and balance-sheet capital keep growing. McKinsey's Asset management 2026 report shows private markets demand moving into wrappers the old fundraising totals miss.

Mega buyout funds post the lowest average returns in the buyout market and the tightest range of outcomes. Dawson Partners argues that for GP financing providers, consistency and franchise staying power count for more than headline IRR.

According to PitchBook's Q3 2025 US PE Breakdown, private equity deal activity posted strong quarterly growth with $331.1 billion across 2,347 transactions in Q3 2025—a 28% sequential increase and 38% year-over-year gain. The resurgence follows a brief Q2 air pocket and comes as recession risk drops below 10%, Federal Reserve rate cuts take effect, and major indices reach new highs.

Private markets face a critical moment as the rush to open alternative investments to retail investors collides with mounting concerns over credit quality, transparency, and regulatory oversight. BDC stocks are plunging, dividends are being cut for the first time, and high-profile bankruptcies are exposing risks in the $1.7 trillion sector.

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Alternative asset managers are experiencing their highest levels of optimism about exit activity and IPO markets since before the 2022 rate hikes, with several industry leaders signaling that the pause in activity is behind them. Glenn Schorr, senior managing director and senior research analyst at Evercore ISI who has covered alternative asset managers since the first firms went public.

Private equity has evolved from leveraging quirky businesses to commanding the most valuable companies across every sector, with technology investments now representing the frontier of value creation. Brian Ruder and Dipan Patel, Co-CEOs of Permira, reveal how their €80 billion firm has transformed from traditional buyout investing to growth-oriented technology leadership during their conversation with Michael Sidgmore on the Alt Goes Mainstream podcast at the firm's London o

Private equity is experiencing its worst slump in decades, with quarterly returns plummeting from 13.5% in 2021 to just 8% by late 2024, creating a crisis where firms can't exit investments, return capital to investors, or raise new funds effectively. The industry's traditional model of buying, improving, and selling companies for profit has ground to a halt amid higher interest rates, frozen exit markets, and economic uncertainty, leaving firms sitting on $1.2 trillion in un

Brookfield Asset Management executives outlined an ambitious plan to double the firm's size over the next five years, targeting compound earnings growth of up to 20% annually through strategic expansion into artificial intelligence infrastructure and private wealth markets. Speaking at their 2025 Investor Day in New York, CEO Bruce Flatt, President Connor Teskey along with key senior executives positioned the $1 trillion asset manager to capitalize on what they see as transfo

Private equity faces its worst crisis in decades as fundraising collapses and exit strategies fail. Over 18,000 funds chase $3.3 trillion while returns plummet from 13.5% to 0.8%. Firms explore retail democratization and continuation funds as traditional models break down across global markets.Retry

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Private equity firms sold $41bn of companies back to themselves in H1 2025 as exit routes stay blocked. With $3tn in stranded assets and rising "zombie fund" predictions, firms turn to continuation vehicles while pension funds retreat from private credit amid quality concerns and regulatory scrutiny intensifies globally.

US tariff surge to 100-year high disrupts private markets recovery as exit drought persists despite macro support.

Private credit secondaries explode to $18B as liquidity crunch hits funds. Goldman invests $1B in T. Rowe for retail push. Major deals: $38B Oracle data centers, $20B Carlyle secondaries fund. Asia education boom driven by Apollo/KKR. Industry consolidation expected as 96% of managers anticipate M&A within 5 years amid regulatory pressures.Retry

AI will transform private markets like Bloomberg did bonds—operational efficiency today, new investment strategies tomorrow.

Wealthy Americans drove record $48B into private credit in H1 2025, offsetting institutional pullback. Major deals included Thoma Bravo's $2.7B Verint financing & Apollo's $3.5B Aspen exit. TPG faced healthcare scrutiny while regulators tightened oversight globally. Venture debt hit $53B record as firms target mature companies amid prolonged private periods.