Foreword
In this edition of the Global Private Capital Barometer, we explore investor sentiment towards private markets and examine limited partners’ (LP) views on allocations and risk in today’s macroeconomic climate.
We uncover their perspectives on developments in secondaries, private credit, new access routes such as evergreen funds, and the adoption of artificial intelligence, and we delve further into their long-term convictions and near-term expectations of today’s dynamic investment landscape.
Fieldwork for this edition of the Barometer took place from 18 February to 21 April 2026.
Key findings
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1 |
Just over a third (37%) of LPs say geopolitical context is influencing their current private market allocations more than previously, with nearly half of APAC and European investors saying this. | . |
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Two-fifths (40%) of LPs believe that continuation vehicle activity will increase, even when exit conditions improve. | . |
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3 |
The proportion of LPs planning to increase their private credit allocations in the coming 12 months has fallen from 42% to 29% since the last Barometer six months ago. | . |
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Recent high profile public market moves have put the exit window back at the centre of the conversation. That is encouraging, but it would be wrong to see IPOs and secondaries as competing routes to liquidity. The Barometer makes it clear that they are complementary.
Jeremy Coller
Chief Investment Officer and Managing Partner
