The energy surrounding the recent SuperReturn North America conference made it clear that private markets are at an inflection point.
During our time at the three-day event, we heard conversations that pointed to several foundational shifts. They included a maturing private credit landscape, the continued expansion of secondaries, and the undeniable integration of artificial intelligence, highlighting a complex and dynamic market for investors and operators to navigate. In our view, this moment presents not only operational and financial opportunities, but also a moment to reshape how private markets firms are understood and valued by the stakeholders who matter most.
Communications is Central to Value Creation
We believe that the best-performing firms over the next 12 to 18 months will combine strong returns with a clear articulation of their capabilities to a broad and increasingly discerning audience. Limited partners want to understand how firms deploy capital in a dislocated market. They are more focused than ever on finding managers that offer proven experience navigating market cycles, as well as compelling differentiation that can lead to better outcomes. Portfolio companies seek true partnerships with firms that demonstrate deep operational expertise and a long-term, forward-thinking approach. Both private markets trade and mainstream media are eager to tell stories highlighting the underlying forces shaping the economy through the lens of private capital. The opportunities to leverage social media and direct marketing are both still in relatively early stages.
This calls for an integrated, intentional, and sustained communications approach with consistent, disciplined messages and timely media coverage, both owned and earned. The ideal outcome is more about credibility than visibility, establishing firms as a long-term, thoughtful, and trusted partners.
The trends dominating private markets directly lend themselves to high-impact communications efforts. The maturation of private credit, for example, creates a clear opportunity for firms to define how they operate differently in a crowded market. The more that sponsors and borrowers turn to direct lenders for flexible capital and consistent execution, the more important it becomes to articulate what sets apart their investing model. Are they sector specialists with deep underwriting expertise? Do they take a relationship-driven approach that allows for more creative structuring and long-term alignment? Do they bring the speed and certainty of a bankless deal, and the rigor of a traditional credit process? These are brand-building narratives that can shape market perception and deepen trust.
In a similar fashion, the growth and sophistication of the secondaries market moves the conversation well beyond simple liquidity. While creative products unlock new ways for GPs and LPs to align their long-term interests, the market remains constrained by pricing challenges and capital availability. We view that tension as an opportunity to lead the conversation, provide insight into the management of complex environments, and deliver outcomes that reinforce their position as responsible stewards. These are the stories investors and the media are hungry to hear.
Harnessing AI for Operational Efficiency
We Perhaps more than any other recent development, the increasing adoption of artificial intelligence was a feature of many panel discussions and hallway conversations at SuperReturn. AI is redefining what operational excellence looks like in private markets. From diligence to data to portfolio oversight, firms are building or adopting tools that compress timelines and improve decision-making. It is critical to show an understanding of where AI belongs, how it augments human judgment, and ultimately how it can improve outcomes. The strategy must be visible to be valued.
Despite the current challenges, there remains an unmistakable optimism about the future of private markets. Generating a measurable share of voice requires a consistent and strategic cadence of communications. Press releases and email blasts are a good start, but it is the differentiating point of view and the audience-focused storytelling that will move the needle.
Investors, with good reason, are more selective than ever as firms compete for deals, talent, and trust. By embracing this challenge with creativity and conviction and writing and in some cases rewriting their own stories, firms can create the energy to view this inflection point as an opportunity not to be missed.