Most alternative asset managers expect 2024 to see an upturn in launches of all fund asset classes, including infrastructure, private debt, venture capital, real estate and private equity.
The survey of just over 300 fund managers, board directors and senior directors in capital markets commissioned by fund administrator Ocorian found up to 85% also predict an increase in capital raising at their own firm.
This is based on a growing desire by investors to diversify, the research found, cited by seven out of 10 respondents, followed by difficulties and volatility in the fixed income market, which was cited by six out of 10.
An increase in fund launches was predicted by "almost all" respondents, the report said, with over half predicting a rise of at least 25% in the "level of fund launches" across major alternative asset classes of infrastructure, private debt, venture capital, real estate and private equity. Around 1% predicted a decrease in each category and between 3% and 5% expected things to stay the same.
Sentiment among US and Asia managers for 2024 was stronger than European managers, the survey also found.
Yegor Lanovenko, co-head of fund services at Ocorian, said: “For alternative fund managers in the US and Asia in particular, 2024 looks set to see a strong rise in capital raising as well as a surge in fund launches across all major asset classes, driven by investor appetite for diversification and exposure to alternatives, as well as the expectation that inflationary and interest rates environments have peaked."