Newsletter

On the occasion of Financial Education Week, we wanted to dedicate this edition of Private Markets Square to a topic that seems central to the future of our industry: education.

In a more demanding cycle, the difference is made less by the narrative… and more by asset quality, execution capability, and operational value creation. Healthcare ticks all these boxes: demand is structural, needs are long-lasting, and innovation (services, data, patient pathways, medtech, diagnostic tools) continues to reshape the sector. As a result, healthcare remains a natural playing field for specialized private markets strategies provided one is selective.

After several years marked by a rapid rise in interest rates and a sharp slowdown in liquidity, 2026 opens a new cycle for private markets. A cycle that is less euphoric than that of 2021, but healthier, clearer, and more supportive of long-term value creation. This edition of Private Markets Square provides a concise and practical overview tailored to wealth management professionals.

In an environment where megadeals are struggling to regain momentum, one conviction stands out: today, sustainable value creation is happening in the mid-market. SMEs and mid-sized companies, often family-owned, regionally anchored, and financially disciplined, provide fertile ground for active strategies—where value creation depends above all on execution. The available levers are clear: international expansion, digital transformation, operational optimization, buy-and-bu

In this first edition, AirFund explores market dynamics, funds currently raising capital, insights from an international investor, and the highlights of the private markets ecosystem.