In this episode of RPM, Lisa Larsson, a New York-based Partner on StepStone’s Portfolio Management team, and Akash Chitrey, a La Jolla-based Senior Associate on the same team, join co-host Anna Marcus to discuss private equity liquidity and valuations, using data to show how private equity really creates and sustains value, even amid uncertain macro conditions. They cover:

  • Why liquidity and valuations matter in 2025 (1:07)
  • What the data reveals about performance (1:41)
  • Evolving exit pathways (4:04)
  • Private equity valuations (8:05)
  • How private equity creates value (11:45)
  • Discipline in a volatile market (13:48)

For more on this topic, read our whitepaper “Waiting with conviction: Private equity discipline in uncertain conditions.”

Read the transcript here.

RPM is available on Apple PodcastsSpotify, and YouTube—anywhere you normally get your podcasts. Subscribe today!

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