Private Markets Outlook: Resilience in an Evolving Landscape
Private markets remain resilient, but the path to outperformance is narrowing.
Private Markets
Explore the forces shaping opportunity across private equity, private credit, real estate, and infrastructure.
Private markets demonstrated resilience in the first half of the year, but as macroeconomic crosscurrents build, the path to outperformance is narrowing.
Sarah Hirsch shares key takeaways from our latest Private Markets Outlook and explores what investors should be watching in the months ahead.
Opportunity is widening.
The path to it is narrowing.
Resilient fundamentals and long-term demand continue to support private markets, even as higher rates, geopolitical uncertainty, and widening dispersion create a more differentiated opportunity set. Sarah Hirsch shares where opportunities are emerging.
KEY TAKEAWAYS
By Asset Class
Private equity
Recovery has room to run.
Improving financing conditions support a continued recovery, with attractive opportunities in the middle and lower middle market.
Real Estate
Finding its footing.
The recovery is progressing unevenly, favoring sectors with durable demand and limited new supply.
Private Credit
Looking beyond the headlines.
Wider spreads and resilient fundamentals continue to support middle market direct lending.
Infrastructure
Structural tailwinds remain strong.
AI, energy, and digitalization continue to drive long-term infrastructure demand.
More on Private Markets
Understanding the Growth and Democratization of Private Equity
Private equity access is expanding.
As private equity continues to grow, investors are balancing a broader opportunity set against important questions around access and portfolio fit.
Separating Signal from Noise in Private Credit
Private credit has grown meaningfully over the past 15 years, but recent headlines have raised questions about further growth.
Recent headlines have highlighted pockets of stress in private credit.
The IPO Wave that Could Reshape the Market
Julia Hermann and Michael LoGalbo discuss how a new wave of mega-cap IPOs could affect benchmark exposure, passive flows, liquidity, and concentration risk.
The Demand for Private Credit Driving the Real Economy
Private credit is playing a growing role in financing the U.S. real economy
Credit and Conflict: The Stories Moving Markets
Uncertainty is rising as geopolitics, inflation, and credit impact markets.
Extending the Cycle: Growth and Opportunity in Private Markets
Private markets remain a core and growing component of multi-asset portfolios.
Extending the Cycle: Growth and Opportunity Across Private Markets
Private markets are entering 2026 with renewed momentum.
Following a multi-year rest in global dealmaking, improving growth and liquidity are setting the stage for renewed momentum in 2026.
No matching result found
A Broad Range of Private Market Capabilities Across New York Life Investment Management
The benefit of our multi-boutique platform
At New York Life Investment Management, we offer a wide range of private market solutions tailored to meet client objectives. Our investment strategy is rooted in extensive experience and deep institutional knowledge, emphasizing thoughtful diversification and long-term growth. With a proven, repeatable process, our skilled teams expertly manage assets across key sectors such as private equity, private credit, real estate, and infrastructure.
This material represents an assessment of the market environment as at a specific date; is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding any funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. There is no guarantee that any strategies discussed will be effective.
The Global Market Strategy Team
Our team of market strategists connects macroeconomics to asset allocation. We provide actionable insight into market-driving events, structural themes, and portfolio construction to empower investment decision-making.
Explore More Programs
Don’t miss out on our next CE Webinar.
Subscribe to receive invitations and insights.
Subscribing gives consent to receive personalized online ads from New York Life Investment Management.
The second half of 2025 is shaping up to be a pivotal moment for private markets. In this overview video, Sarah Hirsch, Global Market Strategist at New York Life Investments, shares highlights from our 2025 Private Markets Outlook, exploring how global rate cuts and policy shifts are influencing opportunities across private credit, private equity, real estate, and real assets, how democratization is expanding access to private markets, and how megatrends like electrification and digitization are driving long-term investment themes.
A Broad Range of Private Market Capabilities Across New York Life Investments
The benefit of our multi-boutique platform
At New York Life Investments, we offer a wide range of private market solutions tailored to meet client objectives. Our investment strategy is rooted in extensive experience and deep institutional knowledge, emphasizing thoughtful diversification and long-term growth. With a proven, repeatable process, our skilled teams expertly manage assets across key sectors such as private equity, private credit, real estate, and infrastructure.
Private Debt
Private Equity
Real Estate
A Broad Range of Private Market Capabilities Across New York Life Investments
The benefit of our multi-boutique platform
At New York Life Investments, we offer a wide range of private market solutions tailored to meet client objectives. Our investment strategy is rooted in extensive experience and deep institutional knowledge, emphasizing thoughtful diversification and long-term growth. With a proven, repeatable process, our skilled teams expertly manage assets across key sectors such as private equity, private credit, real estate, and infrastructure.