硅谷银行：2025年上半年全球基金银行业展望报告：影响私募市场的趋势（英文版）（26页）.pdf

1、Trends Impacting Private MarketsGlobal Fund Banking Outlook ReportH1 2025As we reflect on the past year,our industry continues to navigate a landscape shaped by global economic uncertainties,shifting market dynamics and rapidly changing trade policies.While headwinds persist,private funds CFOs and C

2、OOs are finding ways to adapt,positioning themselves for long-term success in an ever-changing landscape.This edition of our report delves into the details of how clients like you are working through the challenges brought on by the current environment,specifically in the realm of fundraising.Most f

3、unds CFOs and COOs expect the difficult fundraising environment to continue through the year,citing a prolonged weak exit market,continued macroeconomic headwinds and fierce competition for limited partner(LP)dollars.Still,there are signs of green shoots in the LP space especially,with high net wort

4、h individuals(HNWs)starting to appear in higher numbers in recent fundraises.International LPs,meanwhile,are increasingly looking to US funds in search of stability in a less certain world.This report also dives into two hot topics.The first considers the evolution of firms as they raise subsequent

5、funds.With several large LPs reopening to small and emerging managers,data on fund size and LP composition may be helpful for firms as they manage their growth.The second is a deep-dive on tax topics as a follow-up to our recent SVB Tax Summits in Boston and San Francisco.These survey findings range

6、 from tax team composition and operations to expectations for the year ahead.We hope they provide clarity on how your peers in both private equity(PE)and venture capital(VC)firms are tackling some of todays toughest challenges.As you read through the report,we invite you to engage with us on any que