• Initial Public Optimism

    Public markets were flattish over the past week, with the S&P500/Nasdaq100 +0%/+1%. YTD the S&P500/Nasdaq100 are now +11/+12%. In our view, weak performance was driven primarily by rising optimism about the prospects for rate cuts, driven in part by softening employment data. Our NPM Private Market Tracker*, which shows the estimated average price performance of…

  • Nasdaq Private Market CEO Tom Callahan Shares his Bull Case for Private Markets

    Tom Callahan, Nasdaq Private Market CEO, joins ‘Closing Bell Overtime’ to talk the state of the IPO market and the outlook for private markets through the end of 2025.

  • The Fine Print of Preference

    Public markets were weak over the past week, with the S&P500/Nasdaq100 -2%/-3%. YTD the S&P500/Nasdaq100 are now +8%/+10%. In our view, weak performance was driven primarily by fading optimism about the prospects for rate cuts, driven in part by sticky inflation data. Our NPM Private Market Tracker*, which shows the estimated average price performance of…

  • Weapons of Mass Disruption

    Public markets were relatively flat over the past week, with the S&P500/Nasdaq100 +0%/+1%. YTD the S&P500/Nasdaq100 are now +8%/+11%. Our NPM Private Market Tracker*, which shows the estimated average price performance of the 50 largest names in our internal Tape D® data, is now +25% YTD, significantly outperforming public markets. (Source: NPM; Bloomberg) In a…

  • Revenge of the Pet Rock

    Public markets were relatively flat over the past week, with the S&P500/Nasdaq100 +1%/+0%. YTD the S&P500/Nasdaq100 are now +9%/+11%. Major market stories this week included strong earnings from MSFT and META and a handful of new tariff announcements. In addition, the Federal Reserve opted to keep rates unchanged for the fifth consecutive meeting on Wednesday.…

  • When Old Becomes New Again

    Public markets trended up slightly over the past week, with the S&P500/Nasdaq100 +1%/+1%. YTD the S&P500/Nasdaq100 are now +8%/+11%. Our NPM Private Market Tracker*, which shows the estimated average price performance of the 50 largest names in our internal Tape D® data, is now +20% YTD, significantly outperforming public markets. Continuation funds—GP-led recapitalizations that transfer…

  • Private Markets, Public Hype

    In recent weeks, a flurry of announcements from various platforms have promised to unlock the doors of the world’s top private companies to investments from retail investors. With many of the most innovative and fastest-growing companies staying private longer, these new offerings are often wrapped in the noble-sounding mission of “democratizing access to the private…

  • Private Shares in Your Pension?

    Public markets were flat over the past week, with the S&P500/Nasdaq100 +0%/+1%. YTD the S&P500/Nasdaq100 are now +7%/+10%. Our NPM Private Market Tracker*, which shows the estimated average price performance of the 50 largest names in our internal Tape D® data, is now +18% YTD, significantly outperforming public markets. Per the Wall Street Journal, President…

  • Nasdaq Private Market Announces Goodwin as Top Referral Partner

    New York and San Francisco – July 17, 2025 – Nasdaq Private Market (NPM), a leading provider of secondary liquidity solutions for private companies, employee shareholders, and investors, today announced that Goodwin, an elite, global law firm, was its top referral partner for private company tenders and auctions during calendar year 2024 and for the…

  • Mid-Year Update

    The private secondary market had its best first half in at least three years. Our NPM Private Market Tracker*, which shows the estimated average price performance of the 170 largest names in our internal Tape D® data, was +16% over the first half of the year. If we zoom in to just the top 50…