Group 1 - The global assets under management (AUM) for asset managers reached a record $147 trillion in June and is expected to break records for the full year [1] - Fundraising for private market investments has fallen to its lowest level in eight years, with global private market fundraising declining to $1.1 trillion in 2024, the lowest since 2017 [4] - There is a growing interest from retail and high-net-worth investors in evergreen and semiliquid funds, which reached $348 billion in AUM last year with inflows totaling $64 billion [5] Group 2 - Semiliquid funds' AUM could grow 12-fold to $4.1 trillion over the next five years, with retail investors projected to account for over 40% of that AUM [2][7] - In 2024, there were 455 semiliquid funds in the market across the U.S., U.K., and Europe, with total AUM of $349 billion [7] - Private wealth investors, defined contribution plan participants, and insurance plan participants accounted for 80% of net flows last year [3] Group 3 - The private equity and real estate sectors have seen a notable decline in fundraising, while private credit and infrastructure investment strategies are benefiting from rising interest rates and inflation [4] - Retail investors currently have access to only 8,274 private companies globally, while the total market is 28 times larger, indicating a significant opportunity for semiliquid funds [6] - Asset managers that successfully blend public and private market exposure through semiliquid funds and public/private model portfolios are expected to benefit the most from current market trends [5]