Private markets have tripled to more than $10 trillion.

“The growth of private wealth investors has shifted requirements—they now expect a digital experience more in line with how people operate in other aspects of their life. It's become an expectation rather than a nice to have.”

“Building end-to-end infrastructure in-house is a monumental task, irrespective of the size of the institution. As institutions get bigger, the complexity gets larger because they're working across multiple service lines, product sources, and distribution channels.”

“The conversation around digitization is still a little bit ahead of where most are actually operating. The first wave of technology solutions were built to distribute products, not to solve technology needs in isolation, leaving a long way to go across the entire life cycle.”

“GPs are increasingly wanting to own their book of record on an internalized basis and control their operating system while working across different service providers. The terminology of 'operating system' is now much more common and understood than it was five or six years ago.”

“AI has been transformational for our engineering velocity. The ability to take client feedback, visualize it, and implement it much more quickly has let us close the gap between customer relationships and our capacity to turn that into actual outcomes.”

“The most common mistake firms make is being reluctant to look at things end-to-end. You need a strategic digital private markets strategy in place before you start, or you'll end up with sticking plasters over problems rather than long-term solutions.”

“The most fascinating trend is larger infrastructure firms from other asset classes moving into private markets. Those that crack it—combining an established client base and service capability with what they've done elsewhere—bring a whole new wave of interesting competition and partnership opportunities.”