Meranda Ling Miao

Private Markets Reimagined | Global Conference 2025

Yup S. Kim, Bennett Goodman, Jacob Kotzubei, Meranda Ling Miao, Donna Milrod, Yann Robard

Industry leaders project private equity assets will expand to represent 25–35% of global equity within five decades, driven by a 19.9x return record over the past 25 years that significantly outpaces public market benchmarks. Panelists from Blackstone, Platinum Equity, and State Street emphasize that sustained alpha relies on long-term governance structures and AI integration, while acknowledging that tokenization and secondary markets are evolving to resolve liquidity constraints. Despite concerns over GP-LP alignment and the commoditization of deal-sourcing skills, experts maintain that sophisticated risk management and structural innovations will secure the asset class's role as a primary engine for long-term value creation.