The 2025 General Partner Survey

Research Paper
June 12, 2025

Preview

It’ll take more than AUM to grow private markets.

The signal is clear: GPs want to grow, but they’re increasingly constrained by legacy systems, fragmented data and rising LP demands. These are the fault lines, and the future hinges on how firms respond.

  • Fundraising: One in three GPs ranked fundraising as their top challenge, and two-thirds placed it in their top five. Staying competitive means sharpening investor engagement.
  • Deal sourcing: More than half of GPs struggle to find quality deals. To widen the funnel, deal teams are exploring new markets, creating further challenges in the due diligence process.
  • Investor relations: LPs are allocating more capital and demanding stronger benchmarking, risk attribution and reporting from their GPs.
  • Data management: Many GPs still rely on fragmented, manual systems, making it difficult to scale their systems and meet LP expectations for transparency.

Our publication reflects the input of nearly 100 global GPs and their responses to these market dynamics to more competitively raise and deploy capital. Read the report for a glimpse into how peers are adapting and where the industry may be heading next. 

Challenges encountered by firm

As of Jan 27, 2025

Read the full paper

Provide your information for instant access to our research papers.

Find your edge in private asset investing

Achieve greater transparency with our data, indexes and analytics for confident decision-making in private asset investing.

Private Capital in Focus: Depressed Distributions, No End in Sight

Private markets are adjusting to a world of depressed distributions, and it looks like LPs hoping for greater liquidity in 2025 may instead need to brace themselves for another dry year.

MSCI Private Capital Benchmarks Summary Q4 2024

We highlight key performance trends across private equity, private credit and private real assets, using data for over 14,500 closed-end funds, representing capitalization of nearly USD 12.3 trillion as of Q4 2024.

The content of this page is for informational purposes only and is intended for institutional professionals with the analytical resources and tools necessary to interpret any performance information. Nothing herein is intended to recommend any product, tool or service. For all references to laws, rules or regulations, please note that the information is provided “as is” and does not constitute legal advice or any binding interpretation. Any approach to comply with regulatory or policy initiatives should be discussed with your own legal counsel and/or the relevant competent authority, as needed.