Our analysis of the Q1 2025 fundraising landscape reveals a market cautiously moving toward recovery. Investor sentiment has strengthened, with a notable 79% of LPs expecting 2024/25 vintage funds to outperform previous years. Liquidity expectations are also on the rise, with over 70% of respondents anticipating increased distributions in 2025.

That said, challenges remain. Fundraising timelines are expected to remain prolonged, with GPs continuing to face a competitive environment. The market remains bifurcated, favouring high-quality managers offering differentiated strategies. LPs are also showing a renewed interest in first-time funds and secondaries, as they seek value and innovation in a buyer’s market.

You can read the full newsletter on Asante’s insights into the evolving private equity landscape at the link below.