China is further opening up several major state-dominated industries to private capital by raising the ownership limit and removing some investment barriers. https://t.co/iheNsbVUWy ...

Core Insights - The recent deal involving Morgan Stanley is strategically significant despite being a smaller transaction, likely under $500 million, and not the primary focus of the firm [1][2] - The deal is part of a broader strategy to entrench Morgan Stanley within the private markets ecosystem, especially as more companies remain private longer [4][6] Group 1: Strategic Importance of the Deal - The deal is seen as a continuation of James Gorman's strategy, which has included significant acquisitions like Smith Barney and E-Trade, enhancing Morgan Stanley's wealth management capabilities [2][3] - The Solium deal, which involved stock plan administration for private companies, is highlighted as a crucial but often overlooked transaction that aligns with Morgan Stanley's goals [3][4] Group 2: Wealth Management and Investment Banking Synergy - The focus on private capital offerings is essential for Morgan Stanley, as building relationships with private companies can lead to increased investment banking activity [6] - The wealth management division is critical for generating consistent fee-based revenue, which is increasingly valued by investors [7]

Core Insights - The private capital market has grown to an estimated $22 trillion by 2024, more than doubling since 2012, driven by a retreat from public markets and a significant increase in private venture-backed firms [3][4] - Private equity has outperformed the S&P 500 by six percentage points per year on average, highlighting the potential benefits of investing in private markets [2] - The shift towards private capital is reshaping how companies and investors approach growth, risk, and control, challenging the traditional dominance of public markets [4][15] Private Credit and Risks - The private credit segment, valued between $1 trillion and $3 trillion, poses risks due to its lack of transparency and rigorous oversight compared to public markets [1][5] - Analysts warn that hidden risks in private lending markets could lead to significant defaults, especially in the context of economic downturns [5][9] - The increasing reliance on private credit for funding major projects, such as data centers, raises concerns about speculative infrastructure investments outpacing real-world utility [7][8] Market Dynamics - The number of U.S.-listed companies has halved since 2000, while the number of private venture-backed firms has increased 25-fold, indicating a significant shift towards private capital [3] - Major tech companies are increasingly investing in private AI unicorns, with private credit providing two to three times the funding of public markets [6][9] - The top 120 private unicorns have a total valuation comparable to Germany's entire market cap, underscoring their influence on the global economy [13] Future Outlook - The growth of private capital is expected to facilitate the emergence of alternative investment platforms, potentially allowing for broader access to private equity investments [15][16] - Analysts believe that the ongoing transformation in finance, driven by technology and generational changes, will continue to blur the lines between public and private capital [14][17] - The private capital boom is seen as a revolution that will shape the future of economies, companies, and innovations [17][18]

Some of the world's largest asset managers are here at the case conference. They want to make their products more accessible to you, to retail, to investors like all of you. Leslie Picker joining us now with more on that side of the story.Following the money as always, Leslie. Hey, Scott. Yeah, call it the retail revolution or the democratization of alt.It's one of the biggest untapped markets for asset managers right now. You just heard Robert Frank give those statistics about how fast the industry is grow ...

Core Insights - The IPO market is rebounding, but startups are remaining private longer due to alternative capital sources [2][5] - The median age of companies going public has increased to 13 years in 2024, up from 10 years in 2018 [2] - Companies going public now have significantly larger revenues, with median revenue rising from $16 million in 1980 to $218 million in 2024 [3] Private Capital Trends - The number of unicorns has exceeded 1,200, with OpenAI valued at $500 billion, surpassing SpaceX's $400 billion [4] - Global private-equity assets under management have grown over 15% annually, reaching over $12 trillion, and are expected to double to around $25 trillion in the next decade [6] - Venture capital assets in North America are projected to rise from $1.36 trillion in 2025 to $1.8 trillion by 2029 [7] Reasons for Staying Private - Regulatory burdens and short-term pressures of public trading are driving companies to remain private [5] - New digital marketplaces for private company shares provide liquidity for employees, reducing the need for an IPO [8] Case Study: Klarna - Klarna, a Swedish fintech, was founded 20 years ago and saw its valuation fluctuate from $45.6 billion in 2021 to $6.7 billion in 2022, with a current market cap of $15 billion [9] - The company received funding from notable investors including Sequoia Capital and SoftBank [9] Market Dynamics - While private equity and venture capital have historically outperformed public markets, the influx of capital and high valuations may signal a shift in future returns [10][11]

Investment Opportunity - Private capital is uniquely positioned to capitalize on the "voracious need for power in many geographies" [1] Industry Perspective - Apollo Management's Olivia Wassenaar highlights the significant power demand across various regions [1]

Large private capital firms are making multi-billion dollar equity investments into large infrastructure projects. The source of the funds? Their private credit funds https://t.co/X3oVZY4v88 ...

Core Insights - P10, Inc. is sponsoring and participating in IPEM Paris 2025, scheduled for September 24–26, 2025, at Palais des Congrès in Paris, France [1] - The event is expected to attract over 6,000 participants from 2,400 companies, including 1,300 limited partners and 900 general partners, aimed at fostering connections in the global private capital industry [3] Company Overview - P10, Inc. is a leading private markets solutions provider with over $40 billion in assets under management as of June 30, 2025 [4] - The company invests across Private Equity, Private Credit, and Venture Capital, focusing on access-constrained strategies in the middle and lower-middle market [4] - P10's products target a global investor base and aim to deliver compelling risk-adjusted returns [4] Event Participation - P10 will have key attendees, including Sarita Narson Jairath, EVP and Global Head of Client Solutions, along with representatives from five of P10's investment strategies [1][2] - The company invites attendees to visit the P10 Lounge (Lounge B206) located near the Main Conference Room on level 2 during the event [3]

Summary of Taaleri's Capital Markets Day - September 02, 2025 Company Overview - **Company Name**: Taaleri - **Established**: February 2007 - **Assets Under Management**: €2.7 billion - **Guarantee Insurance Portfolio**: €1.7 billion - **Employees**: Approximately 130 - **Revenue (LTM)**: €63.1 million - **Sustainability Focus**: 88% of products have sustainability objectives or promote sustainability characteristics [6][7][10] Strategic Objectives (2026-2028) - **Identity**: Taaleri positions itself as a front runner in investment and asset management, focusing on transformational opportunities in private capital [5][12] - **Purpose**: Leverage expertise and capital to power long-term returns for customers [5] - **Growth Areas**: - **Carantea**: Targeting over 10% growth in insurance service results, expanding distribution channels, and investigating growth opportunities in neighboring markets [22][24] - **Private Asset Management**: Plans to grow fund sizes within existing strategies and launch new product groups [26] - **Development Capital**: Aiming for returns on equity that exceed group-level targets [31] Market Trends - **Private Capital Market Growth**: Expected to grow at double-digit rates, with real estate growth forecasted to increase from 5% to 9%, infrastructure declining from 16% to 10%, and private equity remaining stable at 12% [18][19] - **Finnish Housing Market**: The housing market peaked in 2021 with €22.5 billion in new loans, but saw a decline of over 40% in the following year. However, a recovery is noted with a 18% increase in home transactions in the first half of 2025 [46][47] Business Segments - **Carantea**: Specializes in credit risk insurance, primarily for residential mortgages and corporate loans. The company has underwritten over 100,000 guarantees since 2005 [42][45] - **Insurance Revenue**: Maintained at €18.7 million despite market downturns, with a combined ratio of 34% indicating stable profitability [54][62] - **Investment Portfolio**: €158 million, with 75% in fixed income investments, reflecting a conservative risk approach [56] Key Priorities for Garantia 1. **Increase Market Share**: Focus on residential mortgage guarantees as a primary collateral option in Finland [59] 2. **Expand Distribution**: Building partnerships with new lenders and exploring opportunities in the Baltic States and Nordics [60] 3. **Capital Optimization**: Ensure optimal use of capital to maintain solvency and provide stable dividends [60] Financial Performance - **Insurance Revenue**: €19.5 million for the last twelve months, with operating profit at €18.2 million [62] - **Dividend Payments**: Taaleri has paid €93 million in dividends to its parent company since acquiring Garantia in 2015 [63] Additional Insights - **Regulatory Impact**: Changes in financial sector regulations may favor guarantees over physical collateral, providing a potential tailwind for growth [50][52] - **Consumer Confidence**: Remains below long-term averages, affecting housing market recovery and demand for guarantees [48] Conclusion Taaleri is strategically positioned to capitalize on growth opportunities in the private capital market and the housing sector, with a strong focus on sustainability and expertise in investment management. The company aims to enhance its market presence through strategic growth initiatives and partnerships while maintaining a conservative risk profile in its operations.

Africa’s largest money manager sees private capital as key to narrowing the continent’s $100 billion annual infrastructure-financing gap, critical to boosting economic growth and lifting millions out of poverty https://t.co/5TwmFlOlOo ...