Simple, but Not Easy The Public-Private Convergence: How Private Market Investing Is Becoming More Accessible
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Apr 7, 2025 
Joanna McGinley, Executive Vice President at Pitchbook, discusses the intersection of public and private markets, shedding light on how private investments are becoming accessible to a wider range of investors. The conversation dives into the driving forces behind this shift, highlighting new tools for portfolio diversification and long-term growth. McGinley also addresses the risks and complexities involved, providing insights on how financial advisors can better educate clients about navigating this evolving investment landscape.
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Massive Scale of Private Markets
- Private markets have grown to about $15 trillion in assets under management globally, showing significant growth since 2000.
- Private-backed companies outnumber public ones by a large margin, representing 94% of all tracked companies in the U.S.
Private Markets Outperformance
- Private markets have historically outperformed public markets, attracting greater institutional investment.
- This has allowed private companies to grow larger and delay going public, fueling growth in private market activity.
Beyond Venture Capital
- Venture capital, while prominent, accounts for less assets compared to private equity and private credit sectors.
- Private equity and credit serve more mature companies and offer opportunities beyond the spotlighted startups.