Private markets are no longer treated as tactical diversifiers. Among institutional investors operating north of £25 billion in AUM, they’ve become a core component of strategic asset allocation, a place where long-term stewardship, transition finance and influence over the real economy are put into practice.
This isn’t a trend driven by novelty. It’s a deliberate shift. Asset owners are allocating into infrastructure, private equity, credit, and real estate, not simply in search of uncorrelated returns, but because these markets offer the ability to engage directly in how assets are built, run and governed.
From Allocation to Accountability
At scale,
