Overview
The Private Markets 700 barometer 2025 tracks and compares year-on-year responses from 700 institutional investors globally, including senior investment officials from pension funds, foundations, endowments, wealth managers and large investment consultants.
The insights are designed to reveal trends in in allocations, strategies and expected returns within private markets, as increasing global interest drives calls for innovation, sophistication and creativity. As private markets enters an era of expanding possibilities, explore the findings from year two.
Investment holding periods for private assets
In 2025, investments are being held in private markets long term
The average private markets investor plans to hold these assets for about five-and-a-half years. For 14% of respondents, it’s a seven to nine-year commitment.
Investor rationale for infrastructure equity and debt is clear
Investors turn to infrastructure equity in search of higher financial returns, while, for infrastructure debt, managing portfolio risk is the top driver. In fact, in 2025, risk management usurped the illiquidity premium as infrastructure debt investors’ core rationale.
Infrastructure equity
In 2025, 46% of respondents cited increased returns as their main rationale for investment in infrastructure equity (up from 41% in 2024), followed by risk management (43%). Exerting influence on assets was also a key consideration for infrastructure equity investment.
Infrastructure debt
The biggest driver for infrastructure debt investment in 2025 was managing risk (45%), followed by illiquidity premium (40%). Advocacy from beneficiaries or members ranked third in investment rationale (38%), alongside having a greater direct influence on the energy transition.
Investors expect infrastructure equity net returns to be up 200+ bps on 2024 and infrastructure debt net returns to be up +170 bps YoY.
Join private markets experts for a webinar
Explore the market forces behind the data
Register for our webinar this November exploring investors’ new ambitions for their private market allocations—and the megatrends driving that thinking. Equipped with new research from our in-market “pulse survey,” and backed by 30 years of know-how, join IFM’s economists and private markets experts as they apply the findings to today's landscape, providing actionable investment insights.
Explore the market forces behind the data
Register for our webinar this November exploring investors’ new ambitions for their private market allocations—and the megatrends driving that thinking. Equipped with new research from our in-market “pulse survey,” and backed by 30 years of know-how, join IFM’s economists and private markets experts as they apply the findings to today's landscape, providing actionable investment insights.
Access Private Markets 700 research
Private Markets 700 - 2025 research & trends
New research shows institutional investors are asking more from their private markets' allocations – more risk management, higher returns and more sophisticated solutions. Explore the latest private markets trends and strategies, according to 700+ investors.