Private Markets

Private equity, private credit and venture capital invest in companies that do not trade on a stock exchange. Here is how these funds work, who can invest and how everyday investors are gaining access.

Three big corners

• Private equity: buys whole companies, often with borrowed money, improves them and sells years later.
• Private credit: lends directly to companies instead of through banks or public bond markets.
• Venture capital: funds young, fast-growing startups in exchange for ownership.

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