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Langlebigkeit, getragen von gesunden und sozialen Lebensweisen, entwickelt sich zur Megatrend. Sie verändert Volkswirtschaften und eröffnet neue Perspektiven für ESG-Investitionen.

This is the November 2025 Growth Equity Update from Patrick Wellington, Vice-Chairman of Equity Advisory. The market has started to contemplate a potential bubble in AI valuations even as the AI industry continues to drive forward fund raising in US growth equity. In this edition we look at the role of Nvidia, the world’s largest company, in the AI ecosystem and its growth raises, at the accelerating rate of unicorn creation and the improving exit market in 2025.

Industry veteran to bolster Rothschild & Co's North American presence in communications and digital infrastructure advisory.

After years of pandemic-related disruptions, inflationary pressures, and geopolitical instability, the emergence of artificial intelligence (AI) as a general-purpose technology is reshaping economic dynamics. While it offers upside potential, AI also evokes memories of the dot-com boom of the late 1990s.

Globale Aktien verzeichneten im Oktober einen Zuwachs von 3,8 % zu (in EUR), während die Performance von Bundesanleihen mit einer Laufzeit von zehn Jahren mit 0,8 % positiv war.

Rothschild & Co Wealth Management UK provides globally diversified, preservation-focused wealth management for US clients. Our bottom-up investment approach prioritises prudent growth and long-term security.

Rothschild & Co’s UK Wealth Management business has appointed Ben Gulliford to lead its team in the Midlands, based in Birmingham, and support growing demand for its services in the region.

Rothschild Martin Maurel continues its growth strategy by strengthening its presence in the Western region of France with the opening of a new office dedicated to its Wealth Management business in Nantes.

This is the latest Growth Equity Update from Patrick Wellington, Vice-Chairman of Equity Advisory. October 12 2025 marked the third anniversary of the start of the current bull market that has seen the S&P500 rise by c90%, NASDAQ by c120% and the FTSE Venture Capital Index by 170%. At $7.1bn September was the biggest value month in European growth equity raises since 2021 while the $34.9bn ytd total already surpasses full year 2024.YTD US raises are $160.8bn, 1.5x 2024. AI and software lead the way on both sides of the Atlantic.

The 2025 Finance Act abolished the non-dom regime, increasing tax exposure. Former non-doms must reassess investment strategies, consider wrappers, review offshore accounts, and explore the FIG regime for potential tax relief and planning opportunities.

The TRF allows former non-doms to repatriate offshore income and gains at reduced tax rates, enabling UK investment. Rothschild & Co supports account setup, investment planning, and wrapper selection alongside expert tax advisers.

Global economic conditions remain complex as we enter the final quarter of 2025. While growth has shown an unexpected resilience since Liberation Day, the interplay of trade frictions, inflation dynamics, and policy uncertainty continues to shape a challenging environment. Central banks, particularly the Fed, face a delicate balancing act: sustaining economic momentum without reigniting inflationary pressures.