Trump’s tariff turmoil triggers worst run for private equity since 2008

Donald Trump’s ‘liberation day’ announcement last April sent the stock market into a meltdown - Al Drago/Getty Images Donald Trump’s tariff turmoil has triggered the worst run for private equity since the financial crisis, with the industry returning fewer profits to investors for the fourth year running. Private equity firms distributed 14pc of their net asset value to investors for the second year in a row in 2025, according to a new report from Bain & Co, the management consultancy. This is down from ...