Welcome to the second edition of Private Capital Insights, a report that examines market trends and developments impacting private capital investors across a range of asset classes.

In this edition, we explore the escalating growth and influence of private funds, as institutional investors continue to be drawn to private capital and the scale of the transactions keeps rising. Across direct lending, infrastructure, real estate, private equity, distressed debt, hybrid credit, and other asset classes, agile managers have navigated and withstood the challenges of the COVID-19 pandemic - demonstrating a resilience that will fuel further appetite for their creative and flexible capital solutions as another volatile year takes shape.