Private markets have traditionally been the preserve of long-term, closed-end fund structures—often seen as illiquid, operationally complex, and slow to deliver returns. One of the key barriers has been the "J-curve" effect, where initial returns are negative as capital is called and invested over time.
Evergreen funds are helping to change this. By calling 100% of capital at the outset and offering exposure to existing portfolios, they allow investors to bypass the early performance drag. Investments such as secondaries—often acquired at discounts—can potentially boost early returns, smoothing the investment journey.
Alongside performance, evergreen structures can also offer additional advantages: no fixed term, periodic liquidity windows, and automatic reinvestment of distributions. This creates a more flexible, accessible route into private equity—without compromising on the benefits of long-term, active management.
Explore how evergreen structures are reshaping private equity access in the Private Markets Watchlist.
Brought to you by Professional Pensions in association with Carmignac. By clicking "Click to Read More" you agree to the data protection statement below.
DATA PROTECTION STATEMENT
Your privacy policy – please read carefully:
We set out below how and the basis under which we, Incisive Media*, will communicate with you. In our Privacy Policy we explain how we may use your data.
For subscriptions, events, sponsored content and resources, we will use the lawful basis of 'legitimate interests' and we will use the contact details supplied to us to market to you regarding your trial or subscription, reader research, events and other related products. You will always be offered the option to change your contact preferences. Where you request a whitepaper or content published by one of our third party partners or attend a sponsored event which Incisive Media hosts, we will identify the third party or sponsors to you at the time and then pass on your contact details to them. They will contact you directly and their use of your data will be governed by their own privacy policy. Events may attract additional sponsors after bookings have opened and after the date you have signed up to attend, but we will identify all sponsors to you by email before the event.
