PitchBook：2025年亚太地区私人资本展望：年中更新报告（英文版）

At the end of every year, we share our views on how the year ahead will unfold for Asia-Pacific (APAC) private capital. We offered four outlooks for 2025, and it is time to assess those trends to see how they are progressing, as well as explore two new outlooks for the remainder of the year. Globally, the private markets have been slower in 2025 than the market initially hoped. Liquidity remains low, leading to slower dealmaking and fundraising at the start of the year. Geopolitical tensions