Akin 2025 Funds Conference 

Akin’s 2025 Funds Conference featured the industry’s leading voices sharing their insights on the trends shaping the private capital landscape.

From exploring the drivers behind the growth of GP stakes, evergreens, secondaries, seeding and other market trends to discussing policy themes around tariffs, technology and tax, Akin lawyers unpacked the pressing topics that are top of mind for funds, managers and other investors.

The keynote was delivered by Richard Grimm, head of global credit at Cambridge Associates and Carlos Mendez, co-founder of Crayhill Capital Management. In a dynamic conversation, moderated by Prakash Mehta, the session explored how Capital Solutions are redefining private market strategies and challenging traditional investor roles.

The following are takeaways from each panel.

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Taking a Stake
Trends Shaping Today’s GP Stake Transactions

[Stay Tuned]

Made to Measure
The Rise of Customized Investment Products

There is a growing demand for customized investment structures, such as managed accounts, funds of one, evergreens and other bespoke vehicles tailored to investor preferences. Speakers shared insights on the complex governance, tax and operational considerations that come with these bespoke arrangements. As customization becomes more common, GPs and LPs are navigating conflicts, regulatory scrutiny and alignment challenges to ensure long-term success.

Digital Assets in 2025: Innovate, Regulate, Allocate
Hashing Out Real-World Implications and Opportunities for Fund Managers in Digital Assets and Blockchain

The U.S. government embraced digital assets in 2025 and is in the midst of a sprint to comprehensive legislation and regulatory reform that will impact every aspect of the offering, holding, trading and registration of digital assets and associated businesses. The opportunities for investments and alpha are seemingly limitless, even as the potential challenges associated with compliance, diligence and tax uncertainty remain abundant.

Altered Atmosphere
Perspectives on the Changed Regulatory Environment for Private Funds

Speakers discussed the sharp contrast between the regulatory environment for private funds under SEC Chairman Gensler and new SEC Chairman Atkins. The same deregulatory trend is occurring in the U.K. The panelists previewed upcoming regulatory moves in both the U.K. and Europe and presented a clearer picture of where we are no longer headed and what the landscape may be like in the coming years.

Real Estate, Real Opportunity
The Road Ahead for Real Estate Funds

Fundraising for real estate-focused strategies has improved in tandem with an increase in the volume of real estate-driven transactions. Fund managers are tackling operational challenges, tax planning issues and risks inherent to the real estate market, including higher-for-longer interest rates and market volatility. Some investors are targeting niche sectors, such as data centers, for more resilient returns.
 

New Lens, New Focus
Regulatory Examinations and Enforcement Trends Under the Current Administration

Amid new technologies, new regulatory leadership and evolving national priorities, firms face both fresh opportunities and familiar compliance risks. Even as overall enforcement activity has declined, regulators remain focused on management fees, insider trading, conflicts disclosures, the marketing rule and other core considerations for private funds. Developments in the industry will require adjustments to compliance systems, with long-term compliance remaining a central concern.
 

Emerging Dynamics in Private Funds
Trends, Challenges and Opportunities

Although private equity transactions have been trending positively, the lack of deals and high-interest rate environment have made private equity fundraising challenging. This has prompted sponsors to adapt by turning towards customized mandates and other bespoke products to pique interest from allocators. While co-investments continue to be popular, these tailored options have allowed sponsors to differentiate their offerings in a competitive and challenging market. The current landscape continues to build on the recent “secondaries boom.” The secondaries market has matured into a core tool for both portfolio management and fundraising, showing no signs of cooling down.

Creative Capital
Deploying Bespoke Capital Solutions Across Sectors, Structures and Cycles

Capital solutions are working in the gaps, bringing in less rigid and more flexible financing combinations at the company, fund and manager level. With rising demand for flexibility and creativity, fund managers are increasingly turning to securitizations, asset-based finance, hybrid capital, NAV facilities and other bespoke structures to deploy capital and meet liquidity needs.
 

Fund Strategy Under Fire: Tariffs, Trade Tensions and Investment Bans
Exploring the Fund-Specific Impact of Tariffs, New Outbound Investment Restrictions and Related China Tensions

Tariffs, outbound investment restrictions and national security measures have had an outsized impact on private fund strategy and operations. Fund managers today need to navigate heightened scrutiny around China-related investments and shifting compliance expectations, among numerous complex international trade issues.

Tax Update
Tax Optimization Strategies and Challenges for Private Funds
 

Fireside Chat
Sponsor and Investor Perspectives on the State of Private Markets

Featuring:

• Richard Grimm, Head of Global Credit and Managing Director, Cambridge Associates
• Carlos Mendez, Co-Founder and Managing Partner, Crayhill Capital Management

Moderated by:

• Prakash Mehta