Released 5 November 2025.
On 26 February 2025, ASIC released a discussion paper on Australia’s evolving capital markets exploring the shifting dynamics between public and private markets in Australia. It highlighted issues such as declining public listings, rapid growth in investment capital allocated to private markets, and the growing significance of superannuation funds.
The paper outlined preliminary views on the opportunities and risks in public and private markets and invited feedback based on eight foundational questions.
This report responds to the feedback received, addressing the questions posed.
More information
- 25-264MR A roadmap for capital markets to grow our economy (5 November 2025)
- Discussion Paper DP Australia’s evolving capital markets: A discussion paper on the dynamics between public and private markets