For many years, the continued rise of private markets has been defined by assets under management (AUM), while the composition of the industry evolved significantly. This week, two of McKinsey’s Private Capital Practice experts are joined by Neil Mehta from Apollo Global Management to discuss the diverse types of non-traditional private capital increasingly being raised by general partners (GPs), and how asset managers will need to continue to adapt to meet this growing complexity and the variety of needs that their investors are looking to them to solve.

McKinsey Senior Partner Alexander Edlich is a senior leader in McKinsey’s Private Capital Practice, and is based in New York. He’s the lead author of our 2025 Global Private Markets Review, and has more than two decades of experience advising financial services firms, including alternative asset managers and investors, on how to address ever-changing industry dynamics. McKinsey Partner Paul Maia co-leads McKinsey’s work on advising the C-suite of private capital GPs, as well as the private capital arms of institutional investors, and is based in Washington, D.C. Neil Mehta is a partner and global head of new markets at Apollo Global Management in New York, where he is responsible for driving growth into markets that have historically had limited exposure to private assets, including traditional asset management, defined contribution, and taxed advantage strategies. Neil is also a member of Apollo’s leadership team.

Related insights

Alternative assets get more alternative: The rise of novel AUM forms

Global Private Markets Report 2025: Braced for shifting weather

Thematic investing: A win–win for private equity and the planet

Private capital: The key to boosting European competitiveness

McKinsey Insights on Private Capital

McKinsey Insights on Strategy & Corporate Finance

McKinsey Strategy & Corporate Finance on LinkedIn

Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/

See www.mckinsey.com/privacy-policy for privacy information

Although every company wants to grow, only one in four is able to do so profitably and maintain that growth over time. This week, Sean speaks with three of our growth experts about the mindsets and behaviors of successful growth outperformers.

Jill Zucker is a senior partner and former managing partner of our New York office. She co-leads our global growth transformation work and serves financial services firms, including wealth managers, asset managers, insurance companies, global banks, and private equity. Rebecca Doherty is a partner in our Bay Area office and co-leader of our global Strategic Growth and Innovation Practice. She works with healthcare, industrial, and technology clients to define and execute value-creating growth road maps. Kate Siegel is a partner in our Detroit office and a leader in our Strategy and Corporate Finance Practice. She counsels CEOs and executive teams to develop holistic growth strategies, pursue organic and inorganic M&A, and attain profitable growth aspirations.

Related Insights

How top performers use innovation to grow within and beyond the core

Breaking the mold: Five behaviors of leading growth transformers

How to reignite growth through adjacencies

Innovative growers: A view from the top

Courageous growth: Six strategies for continuous growth outperformance

The triple play: Growth, profit, and sustainability

Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/

See www.mckinsey.com/privacy-policy for privacy information

Transformation is a complex undertaking that relies heavily on achieving behavioral change within an organization. Three McKinsey transformation and organizational health experts talk this week about the common pitfalls companies face when attempting to transform, and share tips for avoiding them.

Rajesh Krishnan is a senior partner in our New York office and a leader in our Transformation Practice. He counsels clients on identifying and delivering transformative and sustainable performance improvements, and is a founder of our capability building solution, the Ability to Execute or A2E. Tiffany Vogel is a partner in our Miami office, and is an expert in change management, leadership development, and agile product development. She focuses on financial institutions and state governments, and also serves on the faculty at the University of Southern California Marshall School of Business. And Matthew Schrimper is an associate partner in our Boston office. He helps clients improve performance through organizational change, and has expertise in large-scale transformations, culture and change management, as well as talent and operating model design.

Related insights

Breaking the mold: Five behaviors of leading growth transformers

Transformation with a capital T

How seven steps can help midsize industrials crack the transformation code

What does it take to run a healthy organization? Find out with this quiz

Help your employees find purpose—or watch them leave

What makes an organization ‘healthy’?

The yin and yang of organizational health

McKinsey Insights on Transformation

McKinsey Transformation on LinkedIn

McKinsey Strategy & Corporate Finance on LinkedIn

Support the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/

See www.mckinsey.com/privacy-policy for privacy information