Justin Doornekamp

The year 2025 is set to be an uncertain one for investors in private markets, with particular concerns surrounding Donald Trump’s political agenda. However, experts also identify opportunities.

In 2024, valuations in private markets stabilised, and deal volumes picked up somewhat, making this year slightly better for private investors compared to 2023. However, it was far from spectacular, experts told Investment Officer in a retrospective. There remains a mismatch between what sellers expect for their stakes and what buyers are willing to pay—a lingering effect of significantly higher interest rates.

Most fund houses believe the US stock market offers the best opportunities for high returns next year, despite already high valuations. In contrast, the outlook for Europe is bleak.

Private equity is under increasing pressure to innovate in response to growing competition, according to Hylke Hertoghs and Bastiaan van Slobbe, managing partners at Marktlink Capital.

The warning that the future of the European Union is at stake, as expressed in Mario Draghi’s report on Monday, could signal a shift in sentiment and perception among policymakers and investors. This is the view of Robeco, outlined in their outlook for the 2025-2029 period.

Cellar Investment Partners is introducing a new investment fund that focuses on the wine market. The fund was registered in Luxembourg last month.

Renewable energy stocks have shown underperformance relative to the broader markets for years, even though the long-term outlook remains favourable.

After a two-year hiatus, the IPO market is showing signs of life, with private equity firms seizing the opportunity to take their portfolio companies public.

Asset managers still work with a variety of custodian banks, but is this truly necessary? According to experts from the Netherlands, the perfect custodial institution doesn’t exist. Moreover, no one wants to be dependent on a single entity.

European investors continue to channel funds into sustainable investments, recognizing the enduring appeal of sustainable UCITS funds. In 2023 alone, an impressive one trillion euros flowed into European Article 8 and 9 funds. This trend is expected to attract more investors towards sustainable funds in the years ahead.