Private capital, encompassing debt, equity, and real assets, has surged over the last decade, entering 2025 with USD 2 trillion in dry powder amidst economic challenges and opportunities. Investors are contending with high central-bank rates and trade tariffs, particularly in electric vehicle (EV) manufacturing, which influences supply chains. Distribution rates from private-capital funds have plummeted to historical lows since the global financial crisis, especially for venture capital. However, narrowing valuation multiples in buyouts and strong private credit returns present potential optimism. Additionally, investments in green mobility have shown significant returns, emphasizing the need for adaptability in a shifting trade environment.