Private equity collection 2025

Navigating uncertainty, driving innovation: Tariffs, IPOs, and the adoption of tech during market downturns
Front page of 2024 GC Report

This report explores critical regulatory developments in private markets

In an environment characterized by intensifying competition for high-quality assets and escalating valuations, successful investors are increasingly distinguished by their ability to seek out and identify promising investments beyond traditional channels. At the same time, a lot remains uncertain during the 90-day pause on reciprocal tariffs, and the possibility of increased costs for imported goods and components could make AI development and implementation more expensive.

Key Highlights

As traditional exit routs such as IPOs or M&A are slowed down by the ongoing uncertainty around tariffs, this provides further opportunity for secondaries, and especially continuation vehicles.

New record

The total secondaries market hit a record $152B in 2024.

Exponential growth

40% of GPs think there will be more single-asset continuation vehicles over the next 2 years, and over 25% think that they will probably become more specialized.

Private equity has embraced AI

Closing over 2,000 AI-powered deals in the first four months of 2025, and over 7,000 deals over 2024
“One of the biggest recent developments that has driven this pace of growth was investors’ increasing acceptance and understanding of continuation vehicles (CVs) as a way for GPs to generate liquidity while holding onto some of their best-performing assets.”
Amyn Hassanally
Global Head of Private Equity Secondaries
Pantheon

Time to act

As these trends gain momentum, private equity firms must adapt to stay competitive.