Global economic sentiment has improved in 2024 compared to 2023, but challenges like geopolitical instability, elections, monetary-policy uncertainty, and market volatility persist, affecting private markets' recovery. Private equity (PE) dealmaking shows modest signs of revival, with deal values up 20% from early 2024 lows, though volumes remain far below 2021-2022 levels. Prolonged holding periods and limited exits are delaying fundraising, with LPs hesitant to commit until returns materialize. PE fundraising rose 10% year-over-year in early 2024, while infrastructure fundraising doubled. Private debt and real estate fundraising lag, impacted by cautious investor sentiment and market conditions.

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