Private markets are becoming increasingly important worldwide — including in Switzerland. This trend is driven by the long-term shift from public to private capital markets, the declining number of listed companies, and investors’ growing demand for diversification, stable cash flows and additional sources of return.

AMAS sees this development as a strategic opportunity for the Swiss asset management industry and has therefore established a dedicated private markets strategy. The strategy is built around four pillars: education, promotion, ecosystem and advocacy. Its objective is to further anchor private markets within the Swiss financial centre and position Switzerland as a centre of expertise for this asset class.

In practice, AMAS brings together investors, providers and distribution partners, promotes knowledge exchange, and supports the visibility of private markets through studies, media activities and public dialogue. Together with AZEK, AMAS is also developing educational initiatives such as certificates and webinars to strengthen expertise in private markets across the industry.

Private Markets in Practice: AZEK Certificate

The practice-oriented six-day programme provides participants with an in-depth understanding of products, investment strategies, structures, regulation, and operational processes. Participants also benefit from direct exchanges with leading industry experts.

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AZEK is launching an educational programme focused on the private markets asset class. Why is such a specialised programme and certificate necessary?

For several years, we have observed a clear shift in global asset allocation: the focus is increasingly moving “from public to private.” This development is being further accelerated by the democratisation of the asset class and its expansion into wealth management. At the same time, private markets are characterised by high complexity and significant information asymmetries. The transition from liquid to illiquid assets requires a new understanding of risk management and liquidity.

This is exactly where our programme comes in: we want to enable market participants to understand private markets in depth and assess them critically. The focus lies on explaining what constitutes meaningful portfolio strategies and structures, while also encouraging exchanges with practitioners on operational challenges.

The certificate establishes a standardised knowledge base and makes specialisation visible. In one of the fastest-growing segments of the financial industry, it strengthens professional credibility while fostering the development of a high-quality network of private markets professionals.

Who is the programme aimed at, and what will participants learn during the six days?

The programme is aimed at finance professionals who want to develop a deeper understanding of private markets and exchange views with peers and experts. Target groups include institutional investors such as pension funds, insurance companies, banks, and family offices. In addition to investment specialists and advisors, we also address professionals from risk management, compliance, and operations.

Over the six course days, we deliberately focus on the core areas with the greatest practical relevance. The programme centres on the four key categories: private equity, venture capital, private credit, and real assets such as infrastructure and real estate.

Participants will systematically learn how to invest in private markets — from legal and regulatory foundations to the selection of suitable investment vehicles and tools for robust portfolio construction. The programme will launch in Zurich; depending on demand, a later edition in Geneva is planned.

AZEK is cooperating with the Asset Management Association Switzerland (AMAS) for this programme. What does AZEK expect from this partnership?

Private markets have become an important success factor for both the financial industry and Switzerland as a business location. AMAS recognised this early on and anchored the topic strategically. The combination of AZEK’s educational expertise and AMAS’s strong industry network therefore creates an ideal foundation for strengthening qualifications in this field in a targeted way.

The white paper developed together with SECA and Boston Consulting Group had already highlighted the strategic importance of joint educational initiatives. The cooperation between AZEK and AMAS is the logical continuation of this effort.

For the programme itself, the partnership offers tangible benefits: it provides access to leading experts as lecturers while simultaneously increasing the programme’s reach and visibility, particularly within the institutional segment.