Assuming an LP fits a stereotypical investor profile is a fool’s errand, shown by the evidence that private market demand is on the up for younger generations.
TL;DR: make your ‘affluent investor’ profiles more granular.
Some investment preferences may be viewed as “a generational thing,” which is upended given widespread investor interest in private markets recently.
As such, data surfaced in FTDE Russell’s 2026 Wealth Pulse study provides informative reading around how managers should market to different segments of their age-bracket-spanning, demographically shifting audience.
Almost a third of affluent investors hold private market allocations, and nearly three-quarters have committed 10% or more of their investable assets here.
61% of current holders only started in the past five years however, making this a live acquisition window than a maturing market.
Generationally-speaking, 67% of affluent millennials hold private market investments, while 56% of non-holders also plan to invest in the next year. Only 11% of Baby Boomers report private market holdings, but 19% plan to do so within 12 months.
Another important figure is that 89% of affluent individuals would invest in private markets following a strong advisor recommendation. 77% of current holders did go through an advisor, and 30% of advised LPs said they want to discuss private markets at a later date.
So, what does this mean for fund marketers?
For anyone looking into their next fund distribution strategy, it is obvious that this market is gaining meaningful traction that is largely not being talked about. As we can see here, there is a five-times difference in near-term investment intent between millennials and Baby Boomers.
These target groups should be segregated accordingly. The ‘high net worth investor’ bucket is often marketed as being one single, generic segment. But net worth is simply one defining factor in an LP’s profile. Someone that has inherited wealth before 50 is not on a par with a long-term octogenarian investor.
They will both want to feel their investment experience is noted, and fund communications tailored to that information, where private market educational content can be produced with specific aims in mind. For example, advisor-facing enablement (such as comparison tools) can help them raise opportunities to investors more easily in initial meetings.
Another stat showed that over 90% of respondents rate benchmarking performance, with 78% stating standardised benchmarks increase their confidence when investing in the asset class. This clarifies how “trust us, we’re experts!” messaging does not float, while verifiable performance data can separate one actionable fund from another, despite private markets’ historical reputation for prioritising exclusive access over transparency.
Source
LSEG, FTSE Russell, “Private markets move further into the mainstream: Insights from the 2026 Wealth Pulse Survey”
