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Inside private markets

There's a whole world of investing off the stock exchange. Learn how private equity, private credit, and infrastructure work, and whether they fit your portfolio.

What are private markets?

Before diving into any single asset class, get oriented. This guide covers what makes an investment "private," three popular categories, and how the whole landscape fits together.

Three big types of private markets

Private equity

Firms buy companies that aren't publicly traded, work to make them more valuable, and sell them years later for a profit. Here's how the buy-improve-sell playbook works.

Private credit

Instead of borrowing from a bank, companies borrow directly from investment funds. Learn how direct lending works and why it pays higher yields than traditional bonds.

Private infrastructure

Toll roads, power grids, and data centres generate steady, often inflation-linked income — which is why pension funds have invested in them for decades.

The mechanics

How private markets work

Private vs. public markets

Liquidity, fees, transparency, returns — see how the two worlds compare, and what you give up (and gain) by investing off the public exchange.

How fund liquidity works

Your money can be locked up for years. Learn how open and closed funds differ, what redemption windows and gates mean, and why the lock-up exists in the first place.

The glossary

GP, LP, carry, NAV, the J-curve, secondaries — a plain-language guide to the terms you'll meet in any private markets fund document.

Ready to explore private markets?