Private equity’s recovery remains uneven. Deal activity and exit values have improved over the past two years, aided by better financing conditions for high-quality assets. Yet for many limited partners, the central question remains unchanged: When will capital begin to flow back at healthier levels? Longer hold periods, delayed exits and continued macroeconomic uncertainty have left investors focused less on paper gains and more on distributions from general partners. As a result, while fundraising remains constrained, LPs are seeing an evolution in investment structures that can help them meet liquidity needs. READ MORE