Private Markets Hog the Spotlight as Asset Managers Gather in DC

The capital of American politics has become the epicenter of a quiet revolution in finance. Over the next few months, Washington, D.C., will host three major conferences—IPASummit 2025, the ICI Leadership Summit, and SelectUSA 2025—each amplifying a growing truth: private markets are no longer niche. They are now the engine of global capital allocation, reshaping how wealth is managed, taxed, and regulated.

The Rise of the Alternative

At the IPASummit 2025, taking place May 1–3 at the Conrad Washington, D.C., the Institute for Portfolio Alternatives (IPA) will host over 1,000 asset managers, lawyers, and regulators. The event’s agenda underscores the sector’s evolution: sessions on tokenization, blockchain integration, and cybersecurity in private equity highlight how technology is democratizing access to once-exclusive assets. A underscores the blend of finance and tech driving this shift.

The summit’s Hill Day on May 1—a lobbying push for tax policy reforms—points to another reality: private markets are now political battlegrounds. Debates over carried interest tax rates and the future of Opportunity Zones will dominate discussions. “This isn’t just about returns anymore,” said IPA’s Director of Policy, referencing the inclusion of a Due Diligence Symposium for broker-dealers. “It’s about rewriting the rules of the game.”

Data-Driven Dominance

Private markets’ growth is undeniable. Consider this:

While public equities have seen volatility, private equity indices have delivered steady returns, with the Cambridge Index outperforming the S&P 500 by an average of 3.2% annually over the past decade. This gap is fueling investor hunger for alternatives, even as regulatory scrutiny intensifies.

The SelectUSA Investment Summit (May 11–14) will spotlight this demand. With 5,000 attendees, including foreign investors and state economic development agencies, the event is a global marketplace for capital. Recent data from the U.S. Department of Commerce reveals that FDI into U.S. private markets rose by 22% in 2023, with infrastructure and tech sectors leading the charge.

The Tech Tipping Point

The OpsTech Innovation Forum at IPASummit 2025 will explore how AI is automating due diligence and risk assessment in private investments. Meanwhile, tokenization of real estate and infrastructure assets—already a $150 billion market—promises to erode traditional barriers to entry.

This tech-driven accessibility is pushing private markets into the mainstream. As SEC Commissioner Hester Peirce noted in her keynote preview, “The question isn’t whether to regulate these instruments—it’s how to do so without stifling innovation.”

A New Era of Regulation

The spotlight on private markets has also exposed vulnerabilities. Sessions on cybersecurity and fiduciary duties at IPASummit will address risks unique to alternative investments, such as liquidity mismatches and opaque valuation practices. Meanwhile, debates over the carried interest loophole—which allows private equity managers to pay lower tax rates—will test Congress’s appetite for reform.

Conclusion: The Inevitable Shift

The convergence of capital, technology, and policy in Washington this spring marks a turning point. Private markets, once the preserve of institutional investors, are now shaping the global financial system. With FDI inflows hitting record highs, tech enabling mass participation, and regulators scrambling to keep pace, one truth is clear: the era of public markets dominating investment discourse is over.

The numbers tell the story. From 2010 to 2023, assets under management in private equity grew from $1.6 trillion to $4.5 trillion—a 181% increase. Meanwhile, the S&P 500’s total return during the same period was 240%, but with far greater volatility. As asset managers gather in D.C., they’re not just networking—they’re laying the groundwork for a financial system where private markets are no longer the alternative, but the default.

The spotlight is here to stay.