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The definitive hedge fund legal and compliance event Now in its 16th year, the Hedge Fund Legal and Compliance Summit | Europe, formerly known as the HFM European Legal Summit, has established itself as the preeminent legal and compliance event for Europe’s largest and most innovative hedge funds. The Summit offers a carefully balanced programme of insightful panel discussions, interactive content sessions, and dedicated networking opportunities.

Several pressures shaping real estate fundraising are becoming more pronounced in 2026. Closed-end funds raised $81.7bn in H1, the third-lowest half-year total in more than a decade, while just 95 vehicles reached final close. Launch activity reflects the same caution. Although 276 funds came to market, their combined $74.3bn target was the lowest since 2017, and capital continued to concentrate around the largest and most established managers.

Infrastructure fundraising has significantly slowed in the first half of 2026, particularly compared to the record-high levels of 2025. However, investor sentiment remains strong as the asset class continues to evolve and new pockets of opportunities emerge. A number of mega funds remain in the market for large volumes of capital that are expected to come through in H2. AI remains a major structural driver.

After over a decade of more-or-less uninterrupted growth, the private credit market came under intense scrutiny in the early months of 2026. A series of high-profile bankruptcies in the leveraged lending markets, combined with broader fears of a so-called “SaaSpocalypse” in the software sector, led to unprecedented redemption pressure on some of the market’s largest funds.

Heeding the lessons of Archegos Capital’s 2021 implosion – which inflicted $10 billion of losses on prime brokers and played a role in the downfall of Credit Suisse – banks moved swiftly to issue margin calls on the billions of dollars lent to Leopold Aschenbrenner’s Situational Awareness when the market moved against his concentrated portfolio of artificial-intelligence stocks.

Several pressures shaping private equity are becoming more pronounced in 2026. Deals are taking longer to complete and median holding periods remain above five years, leaving a sizeable backlog of mature portfolio companies still awaiting exit. At the same time, pockets of deal activity are accelerating, particularly across industrials and infrastructure-linked subindustries.

Several trends are becoming more pronounced across the hedge fund market in 2026. Launch activity remains concentrated in North America and equity strategies, while consolidation continues among multi-strategy managers and the largest platforms expand their use of external capital. Allocator demand is also becoming more concentrated: multi-strategy represented 21.6% of H1 2026 investor intentions, while interest in capacity-constrained global macro funds reached a record high.

Total capital raised in the first six months of the year dropped to its third lowest in more than 10 years (Figure 1). This marks a reversal in industry sentiment compared to just six months ago before conflict in the Middle East began in February, creating uncertainty that made investors review interest rate expectations and portfolio allocations accordingly.

Liquidity remains one of the most significant structural challenges across private markets. A substantial volume of capital remains tied up in ageing private equity portfolios, as exit activity has slowed and holding periods have extended. Average holding periods for portfolio companies rose steadily from 4.3 years in 2017 to a peak of 5.3 years in 2024 before easing slightly to 5.1 years in 2025. The modest decline does not signal a broad reopening of exit markets.

Private equity fundraising showed renewed signs of life in the first half of the year, with managers closing on $312 billion (Figure 1) in capital commitments – more than halfway to last year’s total figure of $490 billion. Fundraising remains concentrated, with the top 20 funds by size accounting for $171 billion – more than half of the capital raised in H1.