What IPEM Paris 2025 Revealed About Private Markets

IPEM Paris 2025 brought together the leaders shaping private markets across Europe and beyond. The discussions offered a clear view of an industry navigating complexity while pursuing new avenues for growth. Panels explored everything from fundraising challenges and allocator outlooks to what the next decade holds for private markets. 

Several key themes emerged, revealing an industry focused on operational excellence, strategic diversification and technological transformation. Here’s a look at the major takeaways from the event. 

Europe: renewed momentum for reform and investment 

As reported in the 2026 SS&C Intralinks LP Survey, optimism is returning to Europe, driven by the energy transition, digital modernization and cross-sector partnerships. Generational succession in family businesses is ushering in leaders who are more open to private capital and transformative change. Meanwhile, pension reform and improved capital pooling are unlocking new sources of long-term funding. 

Allocators are adapting accordingly — prioritizing mid-market funds, engaging with emerging managers and favoring smaller, more diversified allocations for balanced, risk-managed exposure. 

Operational value creation remains paramount 

As fundraising grows increasingly more competitive and holding periods lengthen, general partners (GPs) must move beyond deal structuring to actively drive value at the portfolio company level. Today, roughly half of private equity (PE) value creation comes from operational improvements and revenue growth — a shift from the financial engineering of decades past. 

Leading firms now establish detailed value creation plans before investing and hold their teams accountable for measurable results. Clear governance, well-defined key performance indicators (KPIs) and aligned incentives are critical for success — while vague objectives can quickly lead to inefficiencies and underperformance. 

Private and public markets: toward strategic convergence 

The lines between public and private markets are becoming blurred. New products and regulatory advancements are democratizing access, opening private market opportunities to a broader base of investors. In response, asset managers are consolidating capabilities to offer integrated solutions across the public-private spectrum. 

Hybrid structures, such as evergreen and semi-liquid funds, are gaining traction as investors seek both yield and liquidity. The expanding secondary market now provides greater transparency and ease of entry, further fueling growth and innovation in private capital. 

Private credit: the rise of asset-based lending 

Sophisticated investors are expanding beyond direct lending to include asset-based lending (ABL) as a core component of their credit strategy. ABL offers powerful diversification benefits, with low correlation to traditional cash-flow lending models. Backed by tangible assets and managed with strong risk controls, ABL delivers both illiquidity premiums and downside protection. 

Because returns are driven primarily by asset values rather than business cycles, ABL enhances portfolio resilience. As allocators seek diversified, complementary sources of credit return, those with expertise across strategies are better positioned for superior outcomes. 

AI in private markets: from vision to value 

Artificial intelligence (AI) is now delivering real-world efficiency gains and smarter decision-making. Panelists shared examples ranging from AI-powered, automated hiring tools that cut costs and turnaround times, to predictive analytics that improve deal sourcing and performance monitoring. 

Yet success depends on more than just technology. Organizational culture, governance and disciplined change management determine whether AI investments lead to sustainable competitive advantage. Firms that embrace experimentation and rigorously measure outcomes are building a new edge in private markets. 

Charting the way forward 

The 2025 IPEM conference delivered a clear message: firms that combine operational excellence with strategic innovation will lead the next phase of private market evolution. 

To stay competitive, firms should: 

• Prioritize transparent, results-driven value creation initiatives
• Rebalance portfolios to capture opportunities across public and private assets
• Embrace product and structural innovations that enhance access and liquidity
• Invest in technology pragmatically — demanding measurable, lasting impact 

Agility, discipline and forward thinking will define the next generation of private market leaders. 

For those looking to navigate this evolving landscape, SS&C Intralinks FundCentre™ provides an end-to-end platform that transforms the way you manage funds. Learn more about FundCentre and how it can support your entire fund lifecycle.