Silicon Valley Bank – Trends Impacting Private Markets Global Fund Banking Outlook Report H1 2025

The report focuses on analyzing trends impacting private markets with an emphasis on fundraising and tax issues amidst macroeconomic uncertainties.

Key findings include the expectation of continued fundraising challenges due to a weak exit market and macroeconomic difficulties. Positive signs are emerging in the LP space, particularly among high-net-worth individuals. International LPs are increasingly turning to U.S. funds for stability. The report discusses the evolution of firms in raising subsequent funds and tax issues, including the composition of tax teams and expectations for the coming year.