Private Credit Trends

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Chasing Liquidity

Secondaries surged to $152 billion in 2024 as LPs seek liquidity and GP-led deals approach parity. Pricing improved in buyout and infrastructure while venture stayed volatile. Mega managers amassed funds.
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Climate Tech

Climate tech outpaced U.S. VC from 2020 to 2023, then slowed in 2024 amid uncertainty. Despite capital intensity and short runways, forecasts see 25% CAGR through 2029 with EU support.
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Fundraising Overview

PE fundraising has fallen since 2021. In 2024, pace sits 20 percent below 2023. Capital concentrates with experienced managers, launches decline, geopolitical risk tops concerns, and the outlook remains uncertain.