Looking back at 2024 and ahead at 2025
This month, we examine the past month’s alternative news and our guest writers look back at the past year and ahead at 2025.
December delivered mixed results for hedge fund performance, with macro strategies emerging as the clear leaders. Key developments included Antin closing its latest fund at €10.2 billion, the largest infrastructure raise of the year, Carlyle securing $7.1 billion for its Opportunities Fund, Apollo preparing its largest-ever fund, and Blackstone advancing its latest life sciences initiative. Private equity firms have increasingly turned their focus to the NFL, recognising the value of its brands and cultural significance. The month was marked by strategic deals, consolidations, new fund launches, and partnerships, indicating that 2025 is set to continue this momentum and more.
January features
- Marex’s Chris Elliott examines the increasingly competitive hedge fund landscape, emphasising the importance of agility and responsiveness.
- AIMA’s Drew Nicol identifies 2025 as a transformative year for regulation, marked by significant shifts and opportunities.
- DIFC’s Salmaan Jaffery highlights Dubai and the DIFC’s commitment to establishing itself as a leading destination for alternative managers.
- PwC’s Christine Cairns focuses on family offices balancing growth and sustainability.
- Bitwise’s Vin Molino vividly addresses the challenges of managing a crypto bullfight in 2025.
- H Squared’s Max Heppleston predicts that hiring in 2025 will hinge on differentiation
In Letter from America, Prosek’s Mark Kollar outlines five key trends for 2025. Despite fundraising challenges, innovation drives growth, with investments in data centres, energy transition infrastructure, and sovereign wealth funds leading the way. The democratisation of private markets through wealth management and expanding institutional interest in sports, including collegiate teams, signal a dynamic year ahead for investors.
This month, RQC covers key regulatory developments, including UK updates on operational and third-party reporting, a new Consumer Composite Investments consultation, and the FCA’s crypto regulation discussion paper. In the US, the SEC charged an RIA with policy failures, multiple entities for late Form D filings, and a Federal court ordered a defendant to pay over $2 million in penalties for commodity pool fraud.
