Hilary Wiek: Perspective on Private Markets

Today’s guest on The Long View is Hilary Wiek . Hilary is a principal analyst at PitchBook , where she leads PitchBook’s coverage of fund strategies and performance, publishing primary research on the alternative space. Hilary also leads PitchBook’s coverage of the ESG and impact investing space. Hilary has over 20 years of experience in asset owner, manager, and advisory roles. Prior to joining PitchBook, she was the director of investments at the Saint Paul & Minnesota Foundations , where she handled portfolio management, impact and ESG investment, investment due diligence and monitoring, and investment operations. Before that, she worked in senior positions at Segal Rogerscasey , the South Carolina Retirement Systems Investment Commission , Buckingham Financial Group , Dayton Power & Light , and KeyCorp . Wiek received a master’s degree in finance and economics from Case Western Reserve University and a bachelor’s degree in business leadership and finance from the University of Puget Sound. She is based in PitchBook’s Seattle office. PitchBook is a Morningstar company. Episode Highlights 00:00:00 Background in the Private Markets and Joining PitchBook 00:04:49 Drivers of Private Market Slowdown in 2026 and Pockets of Outperformance 00:14:15 Key Lessons for Investing in Private Market Funds 00:18:12 Private Market Fees, Hidden Volatility, and Valuations 00:20:38 Evergreen Investment Growth, Interval Funds, and Questions Investors Should Ask 00:32:26 Is It Worth It to Invest in Private Markets? 00:36:50 ESG, Impacting Investing, and Key Themes for 2026 00:41:05 Private Market Exposure in 401(k)s PitchBook Reports Discussed Benchmarking and Returns: Why Are There So Many Numbers? Evergreen Funds: We Have Questions The Evergreen Evolution The New Face of Private Markets in Your 401(k) US Evergreen Fund Landscape 2025 Impact Investing Update If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com . Follow Christine Benz ( @christine_benz ) and Ben Johnson ( @MstarBenJohnson ) on X, and Christine Benz , Amy Arnott , and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine , Ben , and Amy.

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Hilary Wiek: Perspective on Private Markets is an episode from The Long View by Morningstar.

This episode is 00:49:37 long.

This episode was published on Feb 24, 2026.

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