Hiring and compensation in private markets continue to defy broader market instability, driven by strong inflows of insurance capital and sustained demand for asset-based finance expertise according to Bloomberg, citing a recruitment report from RCQ Associates.
The report found that mandates for professionals with asset-backed finance experience rose by almost 60% in 2025, with senior managing directors commanding total pay packages of $2.5m or more. For candidates with in-demand skills, the report said base salary and bonus are increasingly supplemented by significant carried interest.
Demand is reportedly being fuelled by insurers seeking long-dated investments with predictable cashflows, as well as by the large volumes of undeployed capital held by private credit managers.
Insurers have continued to allocate capital to private markets strategies run by groups such as Apollo Global Management, KKR and Blackstone, despite concerns around software exposure and the potential impact of artificial intelligence. Bloomberg Intelligence estimates private credit firms are sitting on around $543bn of dry powder.
RCQ said hiring momentum has yet to slow in structured finance, although demand is increasing for professionals with restructuring and workout experience.
