By Yamelin Castillo
In this second edition of our Private Markets Review series, Yamelin examines the key developments that defined private markets in Q4 2025. The report explores how the industry continued to adjust to post-2021 conditions, navigating selective fundraising, evolving liquidity mechanisms, and shifting capital priorities across asset classes. It concludes with a summary dashboard and our forward-looking view on what these trends signal for 2026.
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