The calm before the storm?

I’m back in the office for the first time in a month. Getting out of the house and getting to the place where I’m most productive feel good.

So far this November and December in the private markets seems a bit… well dead. That has been mostly the same as it has been the rest of the second half of the year. After an initial pickup in Q2, things started to calm down in Q3 and has not yet picked up in Q4.

We had thought there could be a small surge due to noise around IPOs in 2025 after the election, but that has yet to really happen yet. It looks like December will close on a relatively calm note.

Once again, we’re sitting here waiting for the markets to pick up. Let’s all hope that this is the calm before the storm in Q1 in 2025.