Global allocators placed $13 billion across the spectrum of alternative assets in April 2024, according to the AW Research Investor Scorecard. Mandates included private equity, real estate, infrastructure, credit and hedge funds.
The activity tracked over the course of the month showed an appetite for private equity strategies, with CVC Capital, TPG and other large-scale PE firms collecting commitments totaling roughly $4 billion.
However, the largest allocation, which accounted for more than one-third of the month’s tally, was multi-asset in nature. BlackRock inked a memorandum of understanding with the Saudi Public Investment Fund (PIF) to set up a new, $5 billion investment platform. This mandate will include investments in infrastructure and credit in the Middle East.
Credit strategies saw broad traction, with real estate credit rising in popularity. With financing boosting the asset class, private real estate was an outlier with 18 mandates totaling $1.5 billion. The moves show the interest in real assets broadly as interest rates are seen as hitting their top and likely to dip as valuations in the commercial real estate market begin to appreciate again. Many allocators have categorized real estate and infrastructure under the real assets umbrella and boosted commitments to the asset class in order to dampen inflationary impact across the investment portfolio.
See the full rundown below.