For private markets, 2021 was a standout year. Private equity deal value and volume reached record highs, and private credit instruments attracted investors looking to protect against looming interest rate hikes. The question is: Can we expect more of the same for the duration of 2022? Or, with the number of unicorn companies recently reaching 1000, can we finally say that private markets have become overheated? With seemingly unlimited PE dry-powder reserves and increased competition from hedge funds, what strategies are investors using to find value in this market?