In this flash piece, we analyze the April 2 tariff announcement and its implications for private markets.
In a highly uncertain environment, we are seeking to provide a framework for investors and allocators to understand the potential impact of tariffs. We explore how the new tariff regime introduces fresh uncertainty into an already fragile market, deepening the strain on distributions, valuations, and fundraising. Even if the policy is reversed, the damage to allocator confidence and dealmaking may linger.
We examine the likely second-order effects of this growth shock and the key takeaways for both GPs and LPs.
You can find the full piece here (Password: Arctos1!).
As always, we welcome your feedback and questions.