Transforming Capital for the Next Era 2025

Images: Getty Images Disclaimer This document is published by the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders. © 2025 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Contents Foreword 3 Executive summary 4 1 The great wealth transfer 5 1.1 Why private markets matter now 6 1.2 Converting influence into stronger markets 7 2 Quantifying women’s representation in financial markets 8 2.1 Women in the financial industry workforce 8 2.2 Women in private capital: Private equity and venture capital 10 2.3 Women in private capital: Recipients 11 3 Bringing the challenges into focus 13 3.1 Who holds decision rights 13 3.2 Who gets in the room 13 3.3 Market concentration and missed global growth 14 4 The path forward 15 4.1 Limited partners 15 4.2 General partners 15 4.3 Capital recipients 16 4.4 Public markets 16 4.5 Buyouts 16 Outlook 17 Contributors 18 Endnotes 20 Transforming Capital for the Next Era: Gender Parity and the Expansion of the Investable Frontier 2