Private Markets Fundraising 2026: Selective Recovery – SG Analytics

Private markets fundraising is showing signs of a gradual recovery and stabilization, though capital is returning highly selectively. Investors (LPs) are increasingly concentrating their commitments around established, experienced managers and long-term growth themes—such as AI infrastructure and private credit—rather than lifting all asset classes equally. While overall fundraising volumes remain below prior historical highs, time-to-close metrics are improving and a strong majority of funds are meeting or exceeding their targets, with North America leading the global recovery.