The total market value of private equity assets hit a new global high of $10.8tn at the end of 2024, increasing by 11.6% since 2023, according to new analysis from Ocorian, a specialist in fund administration, capital markets, corporate, and fiduciary services.
Ocorian’s Global Asset Monitor – which tracks the major trends in public and private markets – reveals that the market value of private equity assets has risen 636% since 2009 and 115% since 2019. According to the analysis, private equity market values grew solidly year on year since 2009, benefiting strongly during the period of ultra-low interest rates, up until 2022, when higher rates caused values to fall for the first time in more than a decade – from $9.26tn in 2021 to $9.08tn in 2022 (-1.9%) – and deal flow to dry up.
Values jumped in 2023 to $9.64tn and in 2024 to $10.76tn and Ocorian’s Global Asset Monitor reports that over the long-term combined private assets (private equity, infrastructure, private debt and real estate) have grown nearly three times as fast as public assets, rising 618% in the past 15 years.
Last year the value of private market assets increased by an estimated $1.27tn – around 9.7% – to a record $14.34tn which excludes undeployed capital, so-called dry powder.
Ocorian’s analysis predicts growth across private markets – driven by a combination of strong demand from investors and privately-owned companies. This demand for capital is strongest in the US while the supply of funds is strongest in Asia.
Private assets – in particular private equity – have become increasingly attractive due to their ability to help with diversification as well as returns which have been 4.8% higher per year since 2000. Private equity accounts for around 75% of the total value.
