Gareth Davies, the UK's shadow minister for business and trade, argues that private equity must collaborate more deliberately with government if it is to play a meaningful role in building a better society. His call reflects a broader reckoning within the industry as private markets have grown from a niche corner of finance into one of its most influential pillars.

Private equity, infrastructure, and private credit funds now steward trillions of dollars on behalf of pension savers, insurers, sovereign wealth funds, and long-term institutional investors. These capital pools shape how nations build infrastructure, finance innovation, and support the companies driving economic growth.

Davies is pushing for a structural shift. As private capital assumes a larger share of national economic activity, the line between public policy and private market outcomes blurs. Without coordinated engagement between state actors and fund managers, the industry risks failing to deliver on its broader social obligations.