Evergreen Funds: Redefining Private Equity for Private Wealth

The private wealth revolution is surging ahead. Private market evergreen funds, or ‘semi-liquid’ funds, are the talk of the town, as wealth platforms increasing turn to private market groups to distribute their fund strategies to a wider cohort of mass affluent investors. The drawbridge to access private equity is finally lowering. It is no longer the preserve of Wall Street…now Main Street gets to enjoy the myriad advantages to investing in private assets. Assets under management are in excess of $320 billion across US- and EU- domiciled funds.

For a growing number of GPs, private wealth is a key tenet of their long-term business strategy with blue chip names such as KKR expecting evergreens to represent 50% of its fund offerings over the coming years. And while the universe of fund managers offering direct investment evergreens (investing directly in companies compared to investing indirectly through multi-GP fund products), remains modest, private banks expect it to rapidly expand.

Private Equity and Sustainability: A Market Shift Too Big to Ignore

For years, ESG was viewed as a mere checkbox—an obligation rather than an opportunity. However, that perception is shifting rapidly. Private equity firms across Europe are increasingly recognizing that sustainability is no longer a niche investment theme, but a key driver of value creation, competitive advantage, and long-term resilience.

As governments enforce aggressive decarbonization targets and industries face mounting pressure to transition, private capital is being called upon to bridge the funding gap and support portfolio companies in adopting more sustainable models. The role of private markets in financing energy infrastructure, industrial transformation, and climate-tech innovation is growing, and firms that fail to integrate sustainability into their investment strategies risk being left behind. The influence of private equity funds on the strategies of their portfolio companies and on the economy is well understood, and their stewardship strategies are becoming central to theis value creation efforts.