LP Portfolio Mix Returns to 2005 Levels in 2025, FactSet Finds

• FactSet's October 28, 2026, analysis found limited partners' private-market commitment mix in 2025 had returned to near-2005 levels.
• Private equity accounted for roughly 60% of commitments, compared with about 25% for real assets.
• Private debt represented roughly 10% of commitments; other investment styles comprised about 5%.
• Real assets surpassed private equity in 2010 and 2015; private debt peaked at 25% in 2015.
• Private debt's share declined from 2020 to 2025 as private markets expanded overall; the analysis primarily reflects public pension portfolios.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. FactSet Research Systems Inc. published the original content used to generate this news brief on October 28, 2026, and is solely responsible for the information contained therein.