In this edition of the Global Private Capital Barometer, we explore investor sentiment towards private markets, and examine their views on allocations and risk in the current macroeconomic climate.
We uncover Limited Partners (LPs) perspectives on secondaries, private credit, and evergreen vehicles and delve further into their long‑term convictions and near-term expectations of today’s dynamic investment landscape.
Fieldwork for this edition of the Barometer took place from 15 September to 10 November 2025.
Key findings
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IPO momentum builds: 77% of investors say managers plan listings in 2026. |
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Two-thirds of investors have already seen or expect to see a “CV squared” transaction from their GPs. |
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For the third year in a row, investors view private credit as most attractive alternative asset class to allocate to. |
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Jeremy Coller
Chief Investment Officer and Managing Partner
“LPs are beginning to see a path back to traditional exits through IPOs, while at the same time becoming more comfortable with continuation vehicles as a long-term feature of the market.”
Jeremy Coller
Chief Investment Officer and Managing Partner