As evergreen structures continue to expand across private wealth portfolios, increased scrutiny around liquidity, transparency and investor expectations is driving a more considered approach to product design. Recent market dynamics - including the rush of retail investors trying to exit private credit investments - have reinforced the importance of aligning structure with underlying assets and ensuring these vehicles behave as intended across different market conditions. As these structures scale, a clearer distinction is emerging between long-term strategic capital and more opportunistic "tourist" capital, with very different behaviours under stress.

This panel will explain how evergreen vehicles function, how NAVs are struck, how liquidity is managed and where structural risks emerge, particularly around timing of entry and quarterly valuation adjustments. Hear how managers are evolving evergreen strategies through more robust liquidity frameworks, enhanced safeguarding mechanisms and disciplined portfolio construction across strategies and segments. Understand how these developments are helping to strengthen resilience, improve investor alignment and support more sustainable growth in private markets allocations.