WILL PUBLIC AND PRIVATE MARKETS CLASH OR CONVERGE?

The discussion centers on the interplay between public and private markets. The anchor opens by highlighting the growth of private markets and introduces panelists including Laura Cha, Andy Saperstein, Roberto Hornwig, Martin Gilbert, and Tetsuya Suzuki. Laura Cha attributes companies staying private longer to the attractiveness of private capital and regulatory burdens of public markets. Andy Saperstein notes banks are adapting by meeting the demand for private assets. Roberto Hornwig explains private credit's growth due to regulatory changes and the matching of liabilities with asset duration. Martin Gilbert discusses Revolut's reasons for remaining private, citing the ability to make long-term decisions and avoid public scrutiny. Tetsuya Suzuki describes unique private equity opportunities in Japan due to capital structure dynamics and corporate governance reforms. Panelists debate the future of private markets, with varying opinions on whether they have reached their peak, but agree there is still growth potential.