Private Equity Is Not So Private Anymore
John Nishimoto
The Journey Toward Creating Brand Preference
Ever since it first came into prominence in the 1940s, the private equity industry has undergone significant transformation. Industries like healthcare, tech and infrastructure have experienced staggering amounts of development, growing the private equity industry’s AUM by over US $6 trillion in the past two decades alone. It’s safe to say this industry will only keep growing—the current US $13 trillion private markets industry is estimated to reach up to $25 trillion by 2030, as private investing becomes more accessible to noninstitutional investors.[1] As these sectors become increasingly saturated, private equity firms must differentiate themselves in ways that stretch beyond financial and operational performance. The role of brand and reputation have become key differentiators for firms seeking to both attract investors beyond word of mouth and establish long-term value.
With the increasing democratization of private equity, there are more private investors than ever—and a resulting demand for transparent, accessible investing communications.[2] Both institutional and noninstitutional investors not only want easier liquidity and access to their investing data, but to understand the impact of their investments.[3] As pressure builds for private markets to behave more like public markets, private equity can’t be so private anymore. Firms must now reckon with growing numbers of noninstitutional investors, and take responsibility for leading conversations surrounding their purpose and the ethics of their investments.
Brand as a Value Creation Tool
For private equity firms, a distinctive brand strengthens the investment thesis and helps firms stand out. Branding is no longer just about creating a logo or designing a website; it’s a critical device for driving your firm’s value creation. Brand is the foundation of every experience, message and behavior your organization represents—made meaningful by strategy and tangible by design. In a rapidly growing and crowded industry, brand acts as a sorting device that enables LPs, investors and employees to remember your firm’s differentiator and recall assets.
Building Your Toolkit
As private equity continues to evolve, the role of storytelling in branding has become more critical than ever. The story you want your practice, your funds and your portfolio assets to be famous for needs to stand out. It’s the foundation from which all your actions, behaviors and communications should start.
So, how do firms in the private equity space build and communicate their brand effectively? Exercises like “Brand Libs,” where leadership defines the hot spots and white spaces in their brand strategy, can help identify key differentiators. Meanwhile, performing a “what success looks like” headline exercise can help establish a strategic messaging roadmap to achieve long-term goals.
Most importantly, firms must always remember to invest in their internal stakeholders. Employees are some of the most powerful brand ambassadors a company can have, and bringing them into the fold ensures that your brand is reinforced from within. Setting clear goals for communications efforts and tracking engagement metrics will help fine-tune your firm’s messaging over time, while ensuring it remains relevant and effective.
Bringing It All Together: The Importance of a Brand Narrative
At the core of any successful marketing strategy lies a well-crafted brand narrative. It’s not just about having a story: It’s about owning an angle that resonates with stakeholders through all possible venues—whether it be through your website, pitch deck or social media channels. A brand story becomes the foundation that links your message to every aspect of your firm’s presence, ensuring that you consistently reinforce—not reinvent—your core message.
If you don’t proactively tell your own story in private equity, someone else will do it for you. In a competitive marketplace, public scrutiny and investor noise can make or break a brand; defining your “why you” not only builds your firm’s narrative, but strengthens its position with LPs, and in the private equity space overall.
[1] “Private market assets could reach $25 trillion by 2030.” Ardian, March 14, 2025, https://www.ardian.com/news-insights/article/private-market-assets-could-reach-25-trillion-2030.
[2] Lom, Andrew, “Expanding retail access to private markets: Regulatory developments and industry trends.” Norton Rose Fulbright, June 2025, https://www.nortonrosefulbright.com/en-us/knowledge/publications/5c6882f8/expanding-retail-access-to-private-markets-regulatory-developments-and-industry-trends.
[3] Edlich et al., “Global Private Markets Report 2025: Braced for shifting weather.” McKinsey, May 20, 2025, https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report.
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