Our latest newsletter highlights a clear shift in investor focus: liquidity is now front and center. With muted exits and slower deployment, LPs are prioritising DPI over traditional performance metrics and reassessing where real liquidity resides.

Many are turning to the mid and lower mid-market – drawn by stronger capital return profiles, lower entry valuations, and greater alpha potential. Specialised, agile GPs in this space are standing out as larger funds struggle with legacy assets and prolonged hold periods.

Challenges remain, particularly around access, scale, and track record. But for LPs willing to do the work, the rewards are increasingly found downstream.

You can read the full Q2 2025 Asante Market Pulse at the link below.