Private Markets

Extracted Attributes

• Type

  Financial market

• Liquidity

  Illiquid by nature, intended to be a long-term investment for buy-and-hold investors.

• Market Trend

  Many companies are staying private due to the increased availability and scope of funding provided by private markets.

• Characteristics

  Trading of financial securities and derivatives occurs with low transaction costs.

• Key Asset Classes

  Private equity, real estate, private debt, infrastructure.

• Securities Traded

  Stocks, bonds, raw materials, precious metals (commodities).

• Impact of M&A Regulation

  Aggressive M&A regulation, attributed to FTC Chair Lena Khan, has frozen the IPO market and choked off Venture Capital Exits, forcing companies into private markets and threatening market liquidity.

• Current Market Conditions (2024)

  Uneven conditions, geopolitical instability, changes in trade policy, and innovation in technology (particularly generative AI) are critical challenges. Dealmaking remained tepid, fundraising across all asset classes fell to its lowest level since 2016, yet capital deployment increased by double digits, and investor interest and confidence remained strong.

• Distinction from Public Exchanges

  Distinct from exchanges like the NYSE or NASDAQ; trading can be on a bilateral basis or involve non-exchange transactions. The term 'market' can also refer to organizations that facilitate these trades.

Timeline

• Private equity firms KKR, Carlyle, Apollo, and Ares went public, converting from partnerships into corporations. (Source: Web Search (Private equity Wikipedia))

  2010-2014

• Fundraising across all private market asset classes fell to its lowest level since this year. (Source: Web Search (McKinsey))

  2016

• Global private market fundraising increased, as reported by McKinsey & Company's Global Private Markets Review. (Source: Web Search (Private equity Wikipedia))

  2018

• Conditions for global private markets were mixed, with tepid dealmaking and falling fundraising, but capital deployment increased by double digits. (Source: Web Search (McKinsey))

  2024

• Aggressive M&A regulation, attributed to FTC Chair Lena Khan, continues to freeze the IPO market and choke off venture capital exits, forcing companies into private markets and threatening market liquidity. (Source: Document 6358cabc-860d-4ddd-80ec-d4393b2c9b47)

  Ongoing

Financial market

A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities. The term "market" is sometimes used for what are more strictly exchanges, that is, organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange. This may be a physical location (such as the New York Stock Exchange (NYSE), London Stock Exchange (LSE), Bombay Stock Exchange (BSE) or Johannesburg Stock Exchange (JSE Limited)) or an electronic system such as NASDAQ. Much trading of stocks takes place on an exchange; still, corporate actions (mergers, spinoffs) are outside an exchange, while any two companies or people, for whatever reason, may agree to sell the stock from the one to the other without using an exchange. Trading of currencies and bonds is largely on a bilateral basis, although some bonds trade on a stock exchange, and people are building electronic systems for these as well.

Web Search Results

• Global Private Markets Report 2025 - McKinsey

  Conditions are likely to remain uneven for private markets. At the time of this report’s publication, geopolitical instability and changes in trade policy are emerging as critical challenges for managers and investors. Meanwhile, innovation in technology, particularly the rapid advancement of generative AI (gen AI), has compelled leaders in private markets to build new capabilities in their quest to find more value. [...] _Below is a summary of how each asset class fared last year. McKinsey’s 2025 global private markets report can be downloaded in full here. An executive summary of the report, focused on private equity, was previously published in February._ Private equity Real estate Private debt Infrastructure Industry deep dives [...] Conditions for global private markets were decidedly mixed in 2024. Dealmaking remained tepid, for instance, while fundraising across all asset classes fell to its lowest level since 2016, even as the performance of public markets increased. Yet capital deployment increased by double digits across asset classes, as managers adapted to a world of interest rates structurally higher than in previous years. Investor interest and confidence in private markets remained strong. In McKinsey’s latest

• Private equity - Wikipedia

  From 2010 to 2014 KKR, Carlyle, Apollo and Ares went public. Starting from 2018 these companies converted from partnerships into corporations with more shareholder rights and the inclusion in stock indices and mutual fund portfolios. But with the increased availability and scope of funding provided by private markets, many companies are staying private simply because they can. McKinsey & Company reports in its Global Private Markets Review 2018 that global private market fundraising increased [...] The private-equity secondary market (also often called private-equity secondaries) refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds. Sellers of private-equity investments sell not only the investments in the fund but also their remaining unfunded commitments to the funds. By its nature, the private-equity asset class is illiquid, intended to be a long-term investment for buy-and-hold investors. For the vast majority [...] of private-equity investments, there is no listed public market; however, there is a robust and maturing secondary market available for sellers of private-equity assets.

• Nasdaq Private Market: Homepage

  []( 250 ##### Secondary Markets: What You Need to Know About the Market for Private Company Stock By Nasdaq Private Market []( 252 ##### State of the Private Market: 2025 Download Image 254: Logo ImageImage 255: Logo Image Light Intelligence in Your Inbox #### Subscribe to Our Newsletter: Subscribe Who We Serve Employee Shareholders Investors Private Companies Banks + Brokers Law Firms [...] More Insights east []( 242 ##### Nasdaq Launches Exclusive Access to Nasdaq Private Market’s Tape D® API to Deliver Advanced Visibility into Private Markets By Nasdaq []( 244 ##### Understanding the Secondary Market + Tender Offers By Nasdaq Private Market []( 246 ##### Beyond IPOs: Strategic Liquidity for Private Companies By Nasdaq Private Market []( 248 ##### Nasdaq Private Market Bolsters Leadership Team for Next Stage of Growth By Nasdaq Private Market [...] > We have been partnering with Nasdaq Private Market since its very early days. One characteristic of NPM that has remained constant over the years is their ability to provide incredible client service through business-oriented, practical and flexible solutions. They help us help our clients successfully execute all types of tender offers and other secondary transactions and we are greatly appreciative of their hard work and collaborative spirit. #### Jamie Hutchinson + Cammy Contizano

• Private Equity: What You Need to Know - KKR

  Explore Other Private Market Asset Classes Dig deeper into three other private market asset classes to learn what they are, why they matter, and how they may fit within existing portfolios. [...] 2. Larger Investment Universe 3. Total Return 4. Outperformance in Volatile Markets ###### The shrinking number of public companies highlights the need to diversify beyond them. There is a wide and diverse pool of private market companies that can offer potential diversification benefits. Public Company Universe Is Shrinking 1 Image 7: Public Company Universe is Shrinking Image 8: Public Company Universe is Shrinking Public vs. Private Company Annual Revenues 2 [...] Private Real Estate Private real estate refers to investment in real estate properties that are privately owned and managed by individuals, partnerships, or private companies, rather than being publicly traded in the stock market. Explore Private Real Estate Private Credit Private credit consists of investment in privately negotiated loans issued from non-bank lenders to middle market companies that are typically not publicly traded. Explore Private Credit

• Why Invest in Private Equity: Pros and Cons | Moonfare

  ⁴ McKinsey Global Private Markets Review 2021, April 2021 ⁵ [...] 1 Minimum investment may vary by country and local regulation. 2 Source: McKinsey "Private Markets Annual Review 2022" 3 Past performance is no guarantee of future returns. Ask LunaImage 38: Moonfare Investment AI Agent by Alhena AI Image 39Image 40 Image 41 [...] Resources Learn Image 10: asd PE Masterclass The ins and outs of private market investingImage 11: asd Blog Our latest industry insights and company newsImage 12: asd Webinars and videos Frank discussions with GPs and other industry expertsImage 13: asd White papers Our proprietary researchImage 14: asd PE Email Course NEW The basics of the asset class covered in six emailsImage 15: asd Newsletter The Satellite Help Image 16: asd FAQ Everything from the basics to the fine printImage