“Private markets are built on trust and expertise”

Making investment decisions today means navigating an environment more complex than ever before. Geopolitical tensions, economic shifts, technological disruption and evolving regulation are reshaping capital markets simultaneously. This question therefore ran throughout this year's Golding Investor Days: How do good decisions emerge in a world where the rules are constantly changing?

SFDR 2.0 represents a significant shift for sustainability-focused investment strategies. The regulation is evolving from a purely transparency-based framework into a system that classifies investment strategies.

Artificial intelligence is fundamentally reshaping the rules of the game in the software sector – along with the valuation logic in capital markets. After years of rising multiples, a clear correction has now set in: while operating performance remains largely stable, business models that are more exposed to disruption from generative AI are coming under increasing pressure.