Asset Class

Private Markets Research Hub

Within the private markets landscape for 2026, research emphasizes a strategic focus on middle-market buyouts and secondaries to build resilient and opportunistic portfolios. Analysts maintain a neutral outlook on direct lending while advocating for hedge funds, particularly equity long-short and discretionary macro strategies, to navigate ongoing market volatility and shifting rate paths. The broader macroeconomic environment is defined by a projected resumption of Federal Reserve rate cuts in June, aiming for a target policy rate of 3.00–3.25% by year-end. This normalization cycle remains a critical driver for private asset activity, even as the nomination of Kevin Warsh as Fed chair has caused temporary disruptions in liquid markets. With public equity valuations trading well above historical averages—such as the S&P 500 at 22x forward earnings—investors are encouraged to diversify into illiquid assets to mitigate volatility from geopolitical risks. Furthermore, recent corporate actions, including significant takeover bids and shifting sector guidance, underscore an environment where disciplined risk management and active asset selection are increasingly paramount.

170 reports available

Private Markets Five Key Debates

UBS·Jul 1, 2026

This report reviews the performance and risks of private market strategies in 1H26, focusing on evergreen structures, AI-related investment opportunities, and the health of the direct lending market.

Private Equity

UBS·Jun 18, 2026

UBS maintains a constructive, selective outlook on private equity, noting a shift toward middle-market deals and hard-asset sectors. Despite geopolitical risks, resilient company fundamentals and stabilized financing conditions support a gradual recovery.

The Broadening AI Opportunity: Implications for SaaS and Private Markets

UBS·Jul 1, 2026

The report highlights that while AI adoption is growing, the value generated is beginning to spread beyond frontier AI labs and semiconductors. Investors should prioritize resilient software, AI infrastructure, and energy-related investments while avoiding generic legacy software.

Cutting Through The Noise

BlackRock·Jun 9, 2026

Private markets are navigating a more selective environment where macro uncertainty and higher interest rates are driving increased asset-level dispersion. Success now requires disciplined underwriting and a sophisticated approach to portfolio construction.

Alternative Investments Outlook and Strategy

J.P. Morgan·Jun 9, 2026

J.P. Morgan maintains an underweight stance on alternatives compared to traditional assets, recommending overweight positions only in hedge funds and private infrastructure.

European Capital Markets

Goldman Sachs·Jun 15, 2026

This report analyzes key trends across European Capital Markets, highlighting a difficult fundraising environment for alternative managers and intensifying competition for retail investment platforms. Consequently, several downgrades are issued for stocks with expensive valuations, including AJ Bell and DWS.

APAC Private Equity: Signs Of A More Constructive Market

UBS·Jun 11, 2026

Strategic: Diversify with Alternatives

UBS·Jun 19, 2026

Global Investors Seek Diversification to Manage Risks

UBS·Jun 2, 2026

All reports

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