Event Highlight Articles
Private Markets Forum 2025
April 7 – 9, 2025
Four Seasons Hotel, Toronto ON
Private Markets Forum Event Recaps
The 5th annual Private Markets Forum took place on April 7 – 9 at Four Seasons Hotel Toronto, with the backdrop of increased market volatility and uncertainty due to U.S. policies.
The event featured 60 speakers, including 3 keynotes, and focused on private markets investing in the environment that has been reshaped by geopolitical, climate and technological forces.
In her fireside chat, Nicole Musicco, former Chief Investment Officer from CalPERS, shared her experience of establishing total portfolio approach. Facilitating a culture of transparency and having investment teams without silos are some key elements for success.
Liquidity has been a core focus for investors. Planning out liquidity in the portfolio construction level, and using tools such as secondaries, to diversify among vintage, sector, and geography, are tools for investors to manage liquidity.
Technological advancements play a crucial role in energy transition and future of infrastructure investments. Opportunities arising from demand for growth of power due to development of AI, smart city, EV storage, provide investors with more long-term themes.
In real estate investing, alternative sub-sectors are increasingly shining in spotlights: student housing, logistics centres, manufactured housing, etc. Some sub-sectors would need to be taken into consideration with regulatory backdrop.
In the keynote fireside chat, Pedro Guazo, representative of the secretary-general for the investment of the assets, United Nations Joint Staff Pension Fund (UNJSPF), reiterated the importance of strategic asset allocation and understanding the risk profiles of underlying asset classes, and that pension funds should not be in positions to do forced sale of their private assets. Regarding benchmark for private assets, Pedro thinks that using public market benchmarks is not the ideal approach, as there are other factors that would influence the potential return. As well, UNJSPF has dedicated funds for impact investing, generating positive impacts.
Sustainability and energy transition investing is about value creation and risk mitigation. The rapid development of AI creates exciting opportunities for investors to evaluate opportunities in clean energy supply as well as technologies that support energy.
In light of the market volatility, there are concerns yet less panic among asset owners. This speaks well about the governance and long termism in the portfolio design. In the concluding session on Global Investing, panelists expressed that they are actively monitoring policy and capital responses from across the globe. In relates to whether China is investable, the regulatory developments will provide key indications to global investors. China’s has an established central bank system, as well, it has maintained energy cost and availability, which provides some foundation for investors confidence.