Global Private Markets Report

McKinsey & Company

Research

92 Pages

McKinsey highlights the resilience of private markets amid uneven 2024 conditions, where fundraising faltered but capital deployment surged and investor allocations remained strong. Despite fundraising hitting lows unseen since 2016, distributions exceeded contributions, secondary transactions and GP stakes markets expanded, and LPs signalled intent to increase allocations—suggesting a recalibration rather than retreat.

Key Takeaways

Fundraising drag: 2024 saw the lowest private markets fundraising since 2016.
Distribution comeback: Distributions to LPs surpassed capital contributions for the first time since 2015.
Secondary momentum: Secondaries values soared (e.g., GP-led secondaries hit new highs), boosting LP liquidity.
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