Interval funds drive Cerulli's $2 trillion advisor private-markets forecast
The forecast puts the semi-liquid fund at the center of advisor allocations, even as the vehicle absorbs repricing pressure.
At a glance
The forecast puts the semi-liquid fund at the center of advisor allocations, even as the vehicle absorbs repricing pressure.
Cerulli expects advisor allocations to private markets to grow by an additional $2 trillion over the next five years, crediting interval funds, expanded access, and client demand.
The forecast arrives while the interval fund absorbs repricing pressure.
Cerulli expects advisor allocations to private markets to grow by an additional $2 trillion over the next five years, crediting interval funds, expanded access, and client demand. Blue Vault Partners reported the research.
The forecast arrives while the interval fund absorbs repricing pressure. Interval Fund Daily has covered BCRED's fourth straight quarterly NAV decline and a redemption queue that keeps growing. Apollo has set a $150 billion private wealth target, with semi-liquid funds at its core. The pitch is being tested, but the forecast says advisors keep buying.
That growth centers on the interval fund. If Cerulli is right, the vehicle is the mechanism that carries advisors' money into private credit, real estate, and infrastructure, reconciling client demand for liquidity with portfolios that cannot offer it daily. Lower NAVs are straining that match. Whether repricing slows adoption or merely changes its timing, Cerulli bets the vehicle wins. The money is projected to arrive even as the ride gets bumpy.
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