Shifting appetite among Asia’s rich could lift investments in alternative assets
MAS survey shows Singapore’s total AUM in alternatives hit nearly S$1.39 trillion in 2024. PE and VCs account for over half
[SINGAPORE] More of Asia’s richest are viewing private-market investments as a core part of their portfolios, say senior private bankers. With allocations ranging from the single digits up to 15 per cent of their portfolios to the asset class, this could translate to as much as US$1.5 million per investor.
If this trend continues, the total assets under management (AUM) in private markets by individuals, each with a net worth of US$10 million, could hit US$1.39 trillion in Asia by 2028, going by a back-of-the-envelope estimate by The Business Times.
The sum was derived from Knight Frank’s 2025 Wealth Report, which forecasts the number of these wealthy Asia-based individuals to grow to 928,722 in 2028.
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