INSIGHTS
Private Markets Investment Outlook
Market Context
Private equity distributions exceeded contributions in 2024 for the first time since 2015, creating $400-500 billion in LP redeployment capacity. That recovery is arriving in a market where concentration is accelerating: AI now accounts for 46.4% of US venture funding, and direct lending took 90% of middle-market LBO financing from banks.
Our Analysis
We analyzed distribution trends, fundraising data, sector performance, and capital flows across private equity, private credit, venture capital, and hedge funds. The report covers where the $400-500 billion in LP redeployment capital is going, how AI is changing VC allocation, what direct lending's market share gains mean for borrowers, and how hedge fund scale is separating platform leaders from everyone else.
