public markets

Extracted Attributes

• Forms

  Souk, bazaar, fixed mercado, itinerant tianguis, palengke, market squares, market halls, food halls, online marketplaces.

• Purpose

  Companies raise capital by selling stock/equity/shares.

• Definition

  A location where people regularly gather for the purchase and sale of provisions, livestock, and other goods.

• Regulation

  Often highly regulated by a central authority; companies must satisfy criteria set by market regulator and continue to disclose information.

• Fund Duration

  Generally don't have a pre-defined duration.

• Characteristics

  Liquid, open marketplace for shareholders, generally highly liquid.

• Historical Origin

  Persia, around 3000 BCE.

• Cultural Significance

  Designated marketplaces have become listed sites of historic and architectural significance, cultural assets, and popular tourist destinations.

• Global Equity Market Value (2021)

  $124 trillion

Timeline

• Earliest bazaars believed to have originated in Persia; zoning policies confined trading to specific city parts, creating conditions for bazaars. (Source: Wikipedia)

  3000 BCE

• In Europe, informal, unregulated markets gradually made way for a system of formal, chartered markets. (Source: Wikipedia)

  12th Century

• Increased regulation of marketplace practices, especially weights and measures, in Europe, giving consumers confidence in market goods and prices. (Source: Wikipedia)

  Medieval Period

• Global equity markets' value was estimated at $124 trillion. (Source: Web Search Results)

  2021

Marketplace

A marketplace, market place, or just market, is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods. In different parts of the world, a marketplace may be described as a souk (from Arabic), bazaar (from Persian), a fixed mercado (Spanish), itinerant tianguis (Mexico), or palengke (Philippines). Some markets operate daily and are said to be permanent markets while others are held once a week or on less frequent specified days such as festival days and are said to be periodic markets. The form that a market adopts depends on its locality's population, culture, ambient, and geographic conditions. The term market covers many types of trading, such as market squares, market halls, food halls, and their different varieties. Thus marketplaces can be both outdoors and indoors, and in the modern world, online marketplaces. Markets have existed for as long as humans have engaged in trade. The earliest bazaars are believed to have originated in Persia, from where they spread to the rest of the Middle East and Europe. Documentary sources suggest that zoning policies confined trading to particular parts of cities from around 3000 BCE, creating the conditions necessary for the emergence of a bazaar. Middle Eastern bazaars were typically long strips with stalls on either side and a covered roof designed to protect traders and purchasers from the fierce sun. In Europe, informal, unregulated markets gradually made way for a system of formal, chartered markets from the 12th century. Throughout the medieval period, increased regulation of marketplace practices, especially weights and measures, gave consumers confidence in the quality of market goods and the fairness of prices. Around the globe, markets have evolved in different ways depending on local ambient conditions, especially weather, tradition, and culture. In the Middle East, markets tend to be covered, to protect traders and shoppers from the sun. In milder climates, markets are often open air. In Asia, a system of morning markets trading in fresh produce and night markets trading in non-perishables is common. Today, markets can also be accessed electronically or on the internet through e-commerce or matching platforms. In many countries, shopping at a local market is a standard feature of daily life. Given the market's role in ensuring food supply for a population, markets are often highly regulated by a central authority. In many places, designated marketplaces have become listed sites of historic and architectural significance and represent part of a town's or nation's cultural assets. For these reasons, they are often popular tourist destinations.

Web Search Results

• Private Market vs Public Market: What's the Difference?

  As this is a ‘public’ market, anyone can purchase shares in a company which is listed on the market. Companies can only enter the market to raise capital when they have satisfied a range of criteria set by the market regulator. They must then continue to disclose information to remain a listed or ‘public’ company. Public markets are described as ‘liquid’ markets, as there is an open marketplace for shareholders to dispose of, or sell, their shares, at their own discretion when desired. [...] Public markets are much larger than private markets. Global equity markets’ value was estimated at $124 trillion for 2021 versus $10 trillion for private markets, according to SIFMA and McKinsey. But private markets have been growing in size — and at a faster rate than public markets — as alternative assets have demonstrated outperformance of traditional ones, and as new asset classes emerge and evolve. [...] For example, the public equities market — like the FTSE-100 or S&P 500 — companies raise money (‘capital’) by selling stock. This is also known as equity or shares. These shares represent an ownership interest in the company.

• Private vs Public Equity: Key Differences & Advantages - Moonfare

  | Liquidity of shares | Formal exchanges provide liquidity for public equities. Public markets are generally highly liquid. However, depending on the exchange, liquidity may be limited as well. | | | Fund Duration | Public market funds generally don’t have a pre-defined duration. | PE funds typically have a 10-12-year life. | [...] A simplified comparison between public markets and private equity is also complicated by the fact that a public equity investor can invest in an instrument representing a broad public equity market (such as the MSCI World Index), but a private equity investor does not have such an option. Instead, the PE investor commits capital to an individual fund (or fund of funds) that may provide diversification benefits to their overall portfolio. [...] When allowing for cash flow differences by using a technique called a public market equivalent (PME) and drawing comparisons between public equities and the relevant types of PE funds, the results indicate that private equity has historically outperformed public equity.

• How Does the Size of Private Markets Compare to Public Markets?

  public markets. [...] (c) an entity that is wholly and beneficially owned, whether directly or indirectly, by a central government of a country and whose principal activity is — (i) to manage its own funds; (ii) to manage the funds of the central government of that country (which may include the reserves of that central government and any pension or provident fund of that country); or [...] (vii) A corporation which the entire share capital is owned by one or more persons, all of whom are accredited investors.

• Can Private Equity Continue to Produce Excess Returns ... - KKR

  Capital market forecasts for future public equity returns are muted relative to those of recent years, and private equity tends to outperform the most when publicly traded stocks are more subdued. EXHIBIT 8: PE Outperformance vs. Public Market Returns Image 13: Bar chart showing private equity outperformance versus public market returns. [...] The outlook for private capital remains strong. The ratio of dry powder to invested capital across the industry sits at historical lows and has barely kept pace with the growth of the public markets, while market liquidity more generally continues to be constrained. This backdrop creates ample opportunity for sponsors with dry powder to acquire attractive companies and implement value-creating strategies. This is reflected in current private equity deal valuations and in the mix of transactions [...] Published Time: 2024-11-05T05:00:00Z Can Private Equity Continue to Produce Excess Returns Above What Is Available in the Public Markets? | KKR =============== Insights . EXHIBIT 1: Revenue and EBITDA Trends in Private Equity-Owned Businesses Compared to Publicly Traded Businesses Image 6: Bar chart on the left shows the average annual revenue growth of the median PE company compared to public indexes from 2011 through 2022. The line chart on the right shows the EBITDA margin.

• [PDF] How private markets differ from public markets | Invesco

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