Preqin, a BlackRock company, has released its annual Preqin Private Markets in 2030 Report, forecasting that the global alternatives market’s assets under management (AUM) will reach $32 trillion by 2030. This projection encompasses private equity, private credit, infrastructure, real estate, hedge funds, and natural resources, providing an analysis of trends expected to shape private markets through the end of the decade.
The report identifies several key themes, including the significant role of artificial intelligence (AI) as a driver for venture capital-backed investments. AI is anticipated to lower barriers for startup formation and influence capital requirements, with private equity-backed companies poised to capture a substantial share of AI-driven value creation. Infrastructure investments are also expected to support the digital backbone necessary for AI adoption.
Private credit is projected to mature, with new, more liquid fund structures anticipated to support fundraising and offer alternative capital sources to traditional lenders. Bank disintermediation and new borrower supply are expected to fuel demand for direct lending and other private credit strategies, which are forecast to reach $4.5 trillion by 2030.
Following a slowdown in exit activity since 2022, Preqin predicts a recovery in exit volumes by 2030, which could initiate a new cycle in private equity and private markets. This recovery is linked to factors such as lower policy interest rates, improved valuation convergence, and a structural shift from public to private allocations.
Infrastructure is set to accelerate as an asset class, with its AUM approaching $3 trillion by 2030. The report suggests that Europe’s infrastructure AUM growth rate will surpass North America’s, driven by investments in energy security, digital infrastructure, and defense.
The wealth channel is expected to underpin fundraising, as the traditional 60/40 investment portfolio evolves into a 50/30/20 split, with private markets becoming a core component of institutional portfolios. The private wealth channel is predicted to mirror this growth in private market allocations, while the secondaries market is expected to increase its share of total deal flow as the focus shifts to managing existing holdings.
Cameron Joyce, Director, Head of Research Insights at Preqin, noted, “As we look toward 2030, private markets are entering a new era of growth—one defined by innovation, resilience, and strategic reallocation. With alternative assets forecast to reach $32 trillion in AUM by the end of the decade, this transformation is not only cyclical but structural. The convergence of public and private markets is reshaping investor expectations, driving demand for transparency, standardized data, and whole portfolio solutions. Investors who embrace this evolution—powered by AI-driven efficiencies, infrastructure-led expansion, and a more unified investment data ecosystem—will be best positioned to capture long-term value.”
Preqin, acquired by BlackRock in 2025, provides financial professionals investing in private markets with data and insights for decision-making. The company has focused on collecting private data for over 20 years to support professionals in capital raising, deal sourcing, performance analysis, and market information, complementing BlackRock’s Aladdin technology platform.
