The value of global private assets funds has surged to a record $14.05 trillion this year, a rise of 77% since 2020 and 205% since 2015, and is forecast to climb 70% over the next five years to hit $23.9 trillion, according to the latest Global Asset Monitor from Ocorian.
Global private equity fund asset values will be the key driver of growth doubling to $17.4 trillion by 2030 with infrastructure, private debt and real estate funds also performing strongly taking the global value of the four sectors to $23.9 trillion.
"The decade ahead will be transformational for global asset management. By 2030, private assets could expand by more than 70% to almost $24 trillion, with structural shifts across investor profiles and how private markets products are distributed,” says Yegor Lanovenko, global co-head of fund services at Ocorian. “We are seeing a handful of global managers consolidate fundraising power, while new channels, including RIAs, retirement schemes, and specialist platforms are reshaping investor engagement. For mid-market managers, this intensifying battle for distribution makes strategic partnerships, operational leverage and specialization are vital.
“The power of the industry’s largest players is growing as the need to bulk up to compete is driving consolidation across the industry. Mainstream fund managers expanding into private markets and big multi-decade players have a real competitive advantage in the power of their distribution channels,” adds Vincent Calcagno, head of U.S. growth at Ocorian. “The shape of the market in 2030 is clear, a cohort of larger asset managers will become increasingly dominant in the U.S. and globally as the line between investment options for retail and institutional investors blurs.”
Key takeaways:
· The Global Asset Monitor estimates total global assets increased $24.08 trillion in the first eight months of this year to $267 trillion.
· Within that total global private equity, private debt, infrastructure and real estate funds all hit record valuations. Ocorian forecasts growth will continue building on expansion over the past 10 years. However it believes growth in assets will drive consolidation with mainstream fund managers increasingly targeting the private markets sector.
· 2025’s growth in private equity global assets to $9.917 trillion has been driven in particular by Asian markets, which hit a record $2.1 trillion, up 15.8% in the first eight months of the year. They accounted for 30% of 2025’s growth despite only accounting for a fifth of assets. Assets in North America still dominate fund holdings; modelling shows they reached $5.6 trillion by early September, up 9.6% year-to-date.
· U.S.-based private equity professionals who collectively manage $335.25 billion in assets expect capital from all major LP sources to rise, with family offices and pension funds leading the charge.
· However, as the market grows fear of regulatory creep is nearly universal, 85% of those surveyed expect more regulation, 88% expect more industry restrictions and fines, and 80% anticipate more time spent on compliance failures.
· The ambition to use more third-party providers is partly driven by this complexity. 47% are already outsourcing more over the latest lifecycle, compared to 44% who have not made changes and just 9% who have brought more in-house.
· More than four out of five (81%) expect to expand their reliance on third parties in the next two years, in particular, investor services and fund administration are the functions most likely to be outsourced, though reporting is also high up the list.
· Around 62% of private debt funds are North American-based while 30% are in Europe and 5% in Asia.
