Public and private market convergence is often framed around product access, but it significantly impacts almost every function of a private markets firm.
Additionally, managers have historically communicated directly with a small number of sophisticated LPs. Now they are managing high volumes of investors accessing products through multiple channels. That shift is accelerating: 56% of private-market executives surveyed by State Street in 2025 expected individual-investor-focused funds to account for at least half of private-market flows within two years.
Insurers have been steadily rotating balance sheet assets toward higher-yield, less-liquid instruments – such as private credit and infrastructure debt– that better match long-duration liabilities. That shift has drawn sustained attention from entities such as US state regulators and the National Association of Insurance Commissioners (NAIC).
Sign in to read the full article or Register for FREE and get access
SIGN IN
FREE PREMIUM ACCOUNT
Don't have an account yet?
To access
the premium content FOR FREE on Insurance Investor, you must first sign in to your account.
Not subscribed? Sign up today for free
Why subscribe? Click here for more details