Preqin's new Private Markets in 2031 report forecasts that global private equity assets under management will almost double to US$12 trillion by the end of 2031 and that private credit will pass US$5 trillion, but the sources reviewed give no Asia-Pacific breakdown.

TL;DR

  • Preqin, the alternatives data provider, published Private Markets in 2031 on 21 October 2026, forecasting private credit fund assets above US$5tn by end-2031, with private credit and infrastructure expected to grow fastest.
  • AltAssets reported on 26 October that Preqin's research sees global private equity assets almost doubling to US$12tn by the end of 2031.
  • No Asia-Pacific figures appear in the report page or the AltAssets summary reviewed, so regional implications are not confirmed.

What does Preqin's Private Markets in 2031 report forecast?

Preqin's report page says private credit fund assets under management are forecast to surpass US$5tn by the end of 2031, and that private credit and infrastructure should grow fastest of all asset classes. It also expects evergreen private credit funds to grow faster than every major closed-end private credit fund type. On private equity, Preqin says the ability to deploy capital at lower entry valuations than before 2022 may improve prospects for newer vintages, with growth strategies and secondaries expected to improve most. For venture capital, it says value creation in the application layer of the AI stack will be critical to fundraising and performance. The free page publishes no fundraising or performance figures.

Where does the US$12tn private equity figure come from?

It comes from AltAssets, which reported on 26 October 2026, citing Preqin's new research, that global private equity assets are forecast to almost double to US$12tn by the end of 2031. The full AltAssets article is paywalled, so only the headline figure was visible to us. We have not seen Preqin's own table for private equity, and we could not confirm growth rates for infrastructure, real estate or venture capital.

What is an evergreen fund, and why does it matter here?

An evergreen fund is an open-ended vehicle that accepts ongoing subscriptions and offers periodic redemptions, unlike a closed-end fund that locks up capital for a fixed term. Preqin's expectation that evergreen private credit funds will outgrow closed-end peers is relevant to Asia because wealth channels are pushing these structures. Alt Asset Asia reported on 16 October that Chubb Wealth and Hamilton Lane are bringing evergreen private market funds to Hong Kong professional investors (https://altassetasia.com/chubb-wealth-and-hamilton-lane-bring-evergreen-private-market-funds-to-hong-kong-professional-investors/).

What does the forecast leave out for APAC investors?

This section is Dachex editorial analysis. The report page does not mention Asia, and the global growth story may not move in step with regional data. Alt Asset Asia reported on 12 October that Asian private credit fundraising fell to a 12-year low in the first half of 2026 (https://altassetasia.com/asian-private-credit-fundraising-falls-to-a-12-year-low-in-h1-2026-what-apac-investors-should-ask/), and Preqin's H2 2026 performance pulse flagged slowing growth and tight private equity liquidity (https://altassetasia.com/preqin-performance-pulse-h2-2026-private-credit-returns-8-3-but-growth-slows-and-pe-liquidity-stays-tight/). Questions allocators may want answered in the full report: what share of 2031 assets is expected in Asia-Pacific, how exits and currency are treated, and how fees are modelled. This is not investment advice.

Frequently Asked Questions

How big will private credit be by 2031?

Preqin forecasts private credit fund assets under management will surpass US$5tn by the end of 2031.

What is Preqin forecasting for private equity?

AltAssets reports that global private equity assets are forecast to almost double to US$12tn by the end of 2031. We reviewed only the free summary of the Preqin report.

Does the forecast cover Asia-Pacific?

Not in the sources reviewed. Check the full Preqin report for regional splits before drawing conclusions for Asian portfolios.

Sources and Method

This article rewrites facts from the sources below. We opened Preqin's report page and one independent report and did not copy their wording.

Preqin, Private Markets in 2031, 21 October 2026: https://www.preqin.com/insights/research/reports/private-markets-in-2031

AltAssets, 26 October 2026: https://www.altassets.net/featured/private-equity-assets-forecast-to-nearly-double-to-12tn-by-2031-as-private-credit-passes-5tn-preqin.html

Preqin Insights listing: https://www.preqin.com/insights