The next release. With pepperoni. Features slated for this release are:

• Emails - DJPaul #6592
• Syncing between activity and (custom) post type comments - imath #6482
• Navigation API tweaks for single items - boonebgorges #6534
• xProfile field visibility, use profile meta table - boonebgorges #6413
• TwentyTwelve companion stylesheets - hnla #6766
• Embeds - r-a-y #6772
• developer.buddypress.org - tw2113 #5129
• Group Invitations - dcavins #6210
• Configurable xprofile fields for signup - jjj #6347

Dates:

• Beta: February 8th 2016
• Release Candidate/String Freeze: February 22nd 2016
• 2.5 release: March 2nd 2016