Europe is now a source of ‘relative value’ for investors, says Elkstone

Karl Rogers, chief investment officer at Elkstone. Photo: Conor McCabe

European assets and infrastructure investments are bright spots for private markets even as global uncertainty and stretched valuations create a “challenging” investment environment, according to new analysis from Elkstone.

The Irish investment house’s new Private Markets Report for the second half of 2025 comes amid concerns of potential risks lurking in the increasingly large private markets space, particularly following the high-profile failures this year of two US business – car parts supplier First Brands and sub-prime car loans provider Tricolor. The collapse of each raised fears about weak lending standards and lack of transparency in the private credit markets both had used to raise finance.

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