The latest Wellington Private Investing Survey highlights robust confidence among private markets professionals in their allocations, with a significant majority of limited partners (LPs) poised to either increase or maintain their exposure.
Surveying over 165 industry participants – including LPs, general partners (GPs), and service providers – Wellington found that 96% of LPs intend to hold steady (43%) or boost (53%) their private markets allocations in the year ahead. Only a marginal 4% plan to reduce their stakes.
Conducted at June’s SuperReturn International in Berlin, the survey reveals that optimism persists despite ongoing concerns around political uncertainty and tariffs, which 64% of respondents identified as the top risks facing private markets over the next 12 months.
On strategic trends, more than half of LPs (51%) see value in blending public and private market strategies to enhance portfolio performance. A notable 63% would consider such a hybrid approach, citing a ‘more holistic view of investments’ (19%) and ‘improved access to research and insights’ (16%) as key benefits.
Equities stand out as the asset class where LPs expect the strongest convergence between public and private markets, compared to credit or real estate.
Further, the survey found that one in ten LPs reduced private markets allocations over the past year.
Nearly half of all respondents (48%), spanning LPs, GPs, and service providers, identify political uncertainty as the primary factor impacting private markets over the next 12 months.
US-based respondents led allocation increases in the past 12 months, with 73% reporting a rise in private markets exposure.
And, regionally, Europe and the Middle East show the highest allocation growth intent, with 65% and 64% respectively planning to increase private market investments in the coming year.
