The December 2024 report from Preqin reveals a positive outlook for private equity and venture capital as we approach 2025, with fundraising and investor sentiment improving. In 2024, global private equity raised $482 billion, boosted by interest from non-institutional investors. However, venture capital AUM slightly declined to $3.1 trillion, with exit expectations rising for 2025. Private debt investors are taking a more defensive stance, while hedge funds returned 10% globally. The real estate market shows early signs of recovery, but infrastructure fundraising remains soft, with dry powder levels hitting a record low.