Partners Group’s white paper is a «must read»: For generations, public markets have been the beating heart of capitalism, reaching their zenith in the latter part of 20th Century, when stock markets in Wall Street, the City of London, Hong Kong, and others were the great centers of capital raising, corporate investment and growth. Out of that financing model emerged the industrial giants – from the Ford Motor Company to General Electric and, later on, the likes of Microsoft and Amazon. These companies were the foundations of the modern economy, providing the infrastructure of society as well as the products and services that provided security and quality of life and drove the global economy. Today, we are in the midst of a profound change. Many of the great industrial groups forged over the past 100 years are still cornerstones of public markets and can offer great value to investors and to society. But where are the foundations of the future economy being built? Where is the new engine room for creating value? The answer is private markets.