This interesting article that addresses some of the reasons behind the shift in investor focus from public markets towards private markets, as witnessed by the huge inflows towards private capital over the last 10 years. 

A few key themes point towards public markets facing underlying structural problems with increasing regulatory burden that you don't see in private markets. At the same time, private markets have become more sophisticated, offer greater investment dexterity, greater returns and a degree of financial flexibility. This is also supported by the ability to retain and attract top talent with private markets companies capacity to hire high quality individuals that can earn more working for companies in private markets over public.