Institutional Allocation Study 2025

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This second instalment in our Institutional Allocation Study series examines allocation trends for institutional investors between 2020 and 2024. We provide a breakdown of allocations for key investor segments and offer a view on prospects for each alternatives asset class.

In 2024, endowments and foundations allocated a higher percentage of their AUM to alternatives than any other institutional investor segment
Insurer allocations to alternatives have decreased since 2020, but 2024 saw a higher proportion of insurance companies expressing intentions to invest in alternatives than any other investor category
Private pensions have actively increased alternatives allocations between 2020 and 2024, with a particular focus on private equity
Infrastructure, private equity, and private debt seem the most likely targets for future investment from public pensions, according to Preqin data