Investor Outlook: H2 2025

In our global survey of more than 450 investors in June, we consider how sentiment has shifted on asset class performance, commitment plans and macroeconomic challenges

• Despite plans to reduce commitments, investors believe private equity performance will improve

• Almost half of VC investors surveyed expect to commit less capital over the coming year

• Noticeable increase in the share of investors expecting a decline in private debt performance

• Highest share of investors since 2022 view hedge funds positively

• Interest rates are less of a concern for real estate investors as they pivot strategy

• Investors are planning to target infrastructure strategies that offer greater return potential