Three megatrends that are shaping the world
AI, private markets, and geopolitical shifts are creating the future
The word "megatrend" implies two things: something big and something moving. Generative artificial intelligence is the perfect example of this. The impact of this technology has already been transformative, and it will continue to be in future. Private markets and geopolitics also come under this category.
Private assets' rise Investors willing to act decisively may benefit from strong structural tailwinds, robust exit markets, and newfound optimism in 2025. While private credit's illiquidity may lead to higher yields, it also requires a longer investment horizon and a tolerance for reduced flexibility. For the first time since 2015, sponsors’ distributions to limited partners exceeded capital contributions (and were the third highest on record). AI and the tech sector The high and rising valuations of the Magnificent 7 over the last twelve months reflected their high-quality fundamentals. Are things changing, however? As GenAI continues to migrate from the digital world (bits/bytes) to the physical world (atoms/photons) investors are beginning to grasp the enormity of the potential disruption. For compliance reasons, this paper is only accessible in certain geographies Artificial Intelligence is redefining our world at a breathtaking speed, shaping markets and economies for years to come. A new geopolitical map Tariffs are not a new policy tool to impact the direction of the economy. However, what is new is their frequency. This has long-term consequences. In this paper, the authors investigate the economic effects of geopolitical risk shocks, with a focus on non‑linear transmission mechanisms. Companies must consider the risks and opportunities created by geopolitical shifts that will alter their supply chains and business strategies. 2025 Global Private Markets Outlook (Global Market Strategy)
The Rapid Rise of Private Credit (S&P Dow Jones Indices)
Global Private Markets Report 2025 (McKinsey & Company)
Technology in 2025: The Cycle Rolls On (Goldman Sachs)
Mapping the Humanoid Robot Value Chain (Morgan Stanley Global Foundation)
AI: Aligning the Digital Revolution and Ecological Transition (Natixis IM)
Understanding the Economic Tradeoffs of Tariffs (State Street)
Geopolitical Risk Shocks: When Size Matters (Bank of England)
Great Powers, Geopolitics, and the Future of Trade (BCG)
