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With the return of the Trump administration, observers expect meaningful changes in political direction and economic and tax policy, but specifics and timing are unknown. Given the degree of uncertainty, investors should remain diversified and focus on both risk and liquidity management. Within private equity, deals that emphasize operational improvement may be better positioned than those focuses on leverage and financial engineering. As the Trump agenda takes shape, a thoughtful balance of caution and opportunism will be key.

The private equity market is navigating through a period of volatility, driven by inflationary pressures, rising interest rates, and geopolitical uncertainties. While some regions, such as North America and Asia-Pacific, remain confident in the face of these challenges, others, particularly in Europe, are more cautious.

It’s no secret that artificial intelligence (AI) is a pivotal force in the current technological transformation. But as Vanguard Global Chief Economist Joe Davis explains and as their research on AI, demographics, and the U.S. economy suggests, it may not be wise to focus solely on tech stocks for investment outperformance. In this discussion with Davis, learn more about the potential investment implications and why equity investors should look beyond tech.

The year 2024 is now in the history books, marking three notable market highlights: a very good year for U.S., the AI gold rush broadening to other industries and sectors, and a surprisingly tough year for U.S. bonds. Looking ahead to what’s next in 2025, Chief Investment Officer Pete Chiappinelli of Ballentine Partners sees thirteen areas for investors to keep in mind—and it starts with the resilient strength of the U.S. economy.

For many investors, fund-of-funds (FOFs) are the only way to replicate a large, diversified private equity (PE) program and is preferable to constructing a PE program oneself. Another important benefit of a FOF is the ability to aggregate hundreds of potential underlying portfolio capital calls into just a few. On the operational side, FOFs can reduce both the complexity and capital call requirements of a robust PE program. For the investors considering a FOF strategy, a historical analysis also shows the potential for superior investment outcomes.

Although private equity (PE) has been grappling with high interest rates, PE funds and their portfolio companies are marching forward. With inflation moderating and expectations for a rate cut, there is growing cautious optimism for improved PE M&A activity. This Private Equity Survey by BDO polled 484 U.S. PE fund managers and operating partners and 208 CFOs of U.S. portfolio companies to uncover their strategies, concerns, and overall pulse.

With more women contributing to meaningful roles in the finance industry, there’s more equity in the future of private equity. In this panel discussion, four impactful women share their experiences in private equity and how women can thrive in this industry. Their valuable insights on leadership, practical advice, and inspiring stories will help with your career planning in any field.

Typically, investors focus on more traditional asset classes, like stocks and bonds, where information is often readily available and digestible. Sometimes, however, sophisticated qualifying investors increase their capital allocations to private markets for reasons they believe are compelling enough to make it worth taking the risk. This primer will provide an introduction to private markets investing, explore key reasons behind why investors allocate capital to the asset class, and evaluate some of the key risks and challenges that potential investors should consider.