Private Markets Insights: 2018 Outlook

2017 failed to produce any break in the private markets trends observed in 2016. General partners and limited partners enjoyed the spoils of a healthy exit environment and correspondingly new fund sizes ticked upward resulting in record setting dry powder levels across the industry. Entering 2018, valuations top the list of concerns shared by general and limited partners as entry multiples reached historic highs. Private markets continue to serve as a long-term driver, portfolio diversifier, and exposure to otherwise difficult to access investment. The game plan remains the same, including seeking out managers with demonstrable abilities in select strategies and niches.