Private markets are on course for explosive expansion, with total global assets forecast to surge 70% by 2030 to $23.9trn, according to Ocorian’s latest Global Asset Monitor.

The total value of private assets held in funds has risen 9.6% so far this year to a record $14.05trn, marking a 77% jump since 2020 and 205% since 2015.

Private equity will remain the main growth engine, with assets projected to nearly double from $9.9trn to $17.4trn by 2030.

Infrastructure, private debt and real estate funds are also set to expand strongly, taking combined values across the four sectors from $14.05trn to $23.9trn.

The report also shows that total global assets, including listed equities and bonds, climbed $24.1trn in the first eight months of 2025 to reach a record $267trn.

At a glance: Private markets growth forecast (2025–2030)

Asset class
2025 value
2030 forecast
% Growth

Private equity
$9.92trn
$17.4trn
+75%

Private debt
$1.36trn
$2.4trn
+76%

Infrastructure
$1.35trn
$2.3trn
+70%

Real estate
$1.48trn
$1.8trn
+22%

Total
$14.05trn
$23.9trn
+70%

Regional growth and market shifts

Ocorian’s analysis highlights Asia’s outsized role in driving private equity growth. Assets in Asian markets reached a record $2.1trn, up 15.8% this year and accounting for 30% of global growth despite only representing one-fifth of total holdings. North America continues to dominate, with $5.6trn in private equity assets, up 9.6% year-to-date.

Yegor Lanovenko, global co-head of fund services at Ocorian, said: “By 2030, private assets could expand by more than 70% to almost $24trn, with structural shifts in investor profiles and distribution. For mid-market managers, the battle for capital will make operational efficiency, partnerships and specialisation vital.”

Regulatory pressure and outsourcing trend

A survey of US-based private equity professionals managing $335bn in assets found 85% expect more regulation, 88% foresee more restrictions and fines, and 80% anticipate greater compliance costs.

To manage the burden, firms are increasingly outsourcing operations — 47% have already increased outsourcing, while 81% plan to expand it further over the next two years, particularly for fund administration and investor services.

Consolidation accelerates

Ocorian’s head of US growth Vincent Calcagno said consolidation will define the decade ahead: “The power of the industry’s largest players is growing as the need to bulk up drives mergers. By 2030, a handful of global asset managers will dominate private markets as the line between retail and institutional investment blurs.”