Valuation opacity in private markets could hinder efforts to democratize access to retail investors, according to SEC roundtable participants. Cliff Asness noted private and public valuations are calculated differently. Blackstone's John Finley suggested valuation committees and external auditors to improve transparency, while Hamilton Lane warned evergreen funds will face increased scrutiny on valuation methods.

New York-based Lindsay Goldberg has joined the trend of buyout shops launching continuation fund strategies, recruiting secondaries professionals to co-lead its vehicle. The firm recently closed its $4.9 billion Lindsay Goldberg VI fund, beating its $4 billion target. Though continuation vehicles have become more accepted for retaining exposure to trophy assets, some LPs remain skeptical of their use.

US investors are targeting climate investment "grey areas" through vehicles like the All Aboard Fund, which co-invests in clean energy and decarbonization tech companies that haven't reached commercial viability. The fund seeks $300 million and plans a final close this summer.