Over the past three decades private capital - in particular private equity and venture capital - has grown into a significant asset class for institutional investors, attracting record amounts of capital. The sector has not disappointed, with the best funds generating returns significantly above public markets. Yet are there clouds on the horizon? Ever more funds are chasing deals. The time of ultra low interest rates may be coming to an end.

The panel will give a status report on the numbers, painting a picture of funds flows and returns. What is clear is that generating 'super returns' will be harder. As returns disappoint, some firms may have difficulty raising further funds. But the leading funds will continue to benefit from an ability to source better than peers and to perform a profitable role in the transformation of companies and industries. In that private capital continues to have a valuable role to play.