Credit Suisse recently released a report (Report) identifying a number of developments and trends that are gaining momentum and that have the potential to reshape the familiar landscape of the PE industry. Starting from the traditional PE fund structure that has remained largely unchanged since the 1980s, Credit Suisse’s market commentary examines sponsor and investor objectives and how they are driving the evolution of strategies and approaches. The Report highlights the growth in customized vehicles and fund structures for investors, particularly to create long-dated vehicles; trends in single asset continuation vehicles and other secondary transactions; and investors’ embrace of a broad range of co‑investment approaches to reduce their fees and take advantage of their internal competency. This article summarizes those and other key insights and takeaways from the Report. See our two-part series on Dechert and Mergermarket’s 2021 PE Outlook: “Developments in Fund Structures, Fundraising and Managements” (Jan. 26, 2021); and “Global Trends, Deal-Making Issues and Strategies to Adopt” (Feb. 2, 2021).