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Welcome to our 4th CAMMI report

This report analyses survey responses from 110 fund managers to identify key trends, challenges, and strategic priorities shaping the alternatives landscape.

Asset 82@2x

The Core Alternative Managers' Mood Index

The private markets landscape is undergoing a period of profound transformation. As macroeconomic uncertainty persists and investor expectations evolve, alternative asset managers face both unprecedented challenges and exciting opportunities.

The headline CAMMI is a number from 0 to 100. A CAMMI score above 50 represents an allocation increase, whilst a score under 50 represents an allocation decrease and a reading at 50 indicates no change. The further away from 50 the greater the level of change.

Asset 78@2x

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For the latest insights from the Core Alternative Managers’ Mood Index (CAMMI)—which captures the sentiment of over 100 leading fund managers across private equity, venture capital, private debt, and real assets.

CAMMI Report

Key findings

71%

of private markets fund managers expect investor allocations to increase (40%) or remain level (31%).

74%

of all private markets funds closed within 12 months, indicating investors are allocating capital relatively quickly.

Fund managers

report heightened political risk (33%) and recessionary fears (25%) over the next 12 months.

Asset 79@2x

At a time when private markets are playing an increasingly critical role in global capital allocation, this latest CAMMI report serves as an essential resource for fund managers and institutional investors seeking to navigate this complex environment.

Alex Di Santo
Head of Private Equity Europe, Gen II Fund Services

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Asset 80@2x

Strong Expectations for Increased Allocations from Investors:

The headline CAMMI score of 56.48 signals sustained growth expectations across private markets, with Venture capital (60.5), growth capital (62.8), and real estate/infrastructure (57.8) leading sector optimism, while secondaries/FoFs (40.2) face a potential slowdown.

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Asset 81@2x

Domiciliation Shifts:

The UK (50%) remains the preferred fund domicile of the future, followed by Luxembourg (33%) and Singapore (30%).

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Download our latest white paper

for the latest insights from the Core Alternative Managers’ Mood Index (CAMMI)—which captures the sentiment of over 100 leading fund managers across private equity, venture capital, private debt, and real assets.