The Wealth Enterprise Briefing Private Investing in 2025: Vintage Timing, Real Returns
Private markets are facing headwinds, from reduced liquidity to fewer distributions, and many investors are wondering whether these assets still belong in a long-term portfolio.
In this episode of The Wealth Enterprise Briefing, Michael Zeuner, managing partner, and Deputy CIO Matt Farrell revisit the fundamentals of private investing and explore how families can approach this space more deliberately during challenging cycles.
They offer perspective on how to think about recent performance data, why IRRs can mislead in periods of low exit activity and what to keep in mind when evaluating new opportunities. They also highlight what's required beyond capital: investor capacity, staying power and thoughtful portfolio design.
Key discussion points include:
- Interpreting performance when liquidity and data are limited
- Diversifying across equity, credit and real assets
- Choosing managers with clear exit strategies
- Why 2025 may offer attractive entry points
- Staying committed across vintage years
While private markets may be in a difficult moment, Michael and Matt make the case for remaining engaged with clarity, discipline and a solid plan.
If you're curious about how private markets could fit into your family's long-term plan, we're here to help, so please don't hesitate to contact us.
Important Information:
The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security, and should not be relied upon as investment, legal or tax advice. Please consult with your investment, legal and tax advisors regarding any implications of the information presented in this presentation.