Asset managers headquartered in Europe saw their private market assets continue to grow in 2022, albeit more slowly than in previous years, and their total assets under management (AUM) exceeded €2.3 trillion (US$2.4 billion) by the end of the year. Institutional investors remain the region’s major allocators to private assets—European high-net-worth (HNW) and ultra-high-net-worth (UHNW) investors are still underexposed to private asset classes, although that is set to change.
