硅谷银行：2026年上半年全球基金银行业展望报告：影响私募市场的趋势（英文版）（30页）.pdf

1、Trends Impacting Private MarketsGlobal Fund Banking Outlook ReportH1 2026H1 2026 GFB OUTLOOK REPORT2IntroductionNear-Peak Activity,Uneven ConfidenceNear-record investment levels in private markets have generated bullish headlines.But based on our Global Fund Banking survey data from more than 200 pr

2、ivate fund CFOs and COOs,plus insights from hundreds of conversations with market participants our team has had over the past few months,its clear that not everybody in the industry shares the same enthusiasm.On the positive side,an uptick in buyout deals and mega AI deals has pushed up investment n

3、umbers.At SVB,as investment activity and deployment accelerate,weve seen an increase in capital call line usage.Borrowing levels among early-stage venture and buyout funds have returned to pre-correction norms.Our survey sheds light on the drivers behind these trends.Were also seeing improved condit

4、ions in exit markets,as IPO and M&A volumes have rebounded somewhat following a prolonged and difficult period.During the exit doldrums,managers have actively pursued alternative pathways to liquidity.This is especially true among private equity(PE)funds.Increased use of liquidity vehicles has helpe

5、d bridge the gap created by the slower reopening of traditional exit channels.And yet,fundraising sentiment tells a more cautious story.Despite stronger deployment and improving exit numbers,weve seen softening in the fundraising outlook particularly in venture capital(VC).The lagged effects of seve

6、ral years of constrained exit markets continue to weigh on limited partner(LP)allocation pacing,extending fundraising timelines even as headline investment activity has ramped up.Taken together,I see these trends as a reflection of mixed sentiment in the market.While the way things play out in 2026