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Public Companies Plummet: Private Equity Surges Ahead

7/29/2025

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Summary

Story summary

Over the past 30 years, the number of public companies has decreased from 7,300 in 1996 to 4,300 today.
A growing number of firms are opting to remain private, limiting options for public equity investors.
Private-equity funds are now providing semi-liquid options with lower minimum investments, expanding access.
From 1999 to 2024, these funds have outperformed global listed equity funds by 7.3% annually.

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Story summary

Over the past 30 years, the number of public companies has decreased from 7,300 in 1996 to 4,300 today.
A growing number of firms are opting to remain private, limiting options for public equity investors.
Private-equity funds are now providing semi-liquid options with lower minimum investments, expanding access.
From 1999 to 2024, these funds have outperformed global listed equity funds by 7.3% annually.