Understanding the Growth of Private Markets: Structural Shifts in the Investment Industry

Private markets are no longer a peripheral segment of the investment landscape. They have become a central mechanism of capital formation, shaping how companies raise capital, how investors build portfolios, and how risk moves through the financial system.

This new CFA Institute Research and Policy Center report examines the structural forces driving private market growth and the implications for investors, policymakers, intermediaries, and the investment profession.