Private markets are evolving

There are new ways to access private assets, new areas of opportunity and new questions around risk, liquidity and portfolio construction.

At the same time, institutional investors continue to increase allocations to private markets, seeking durable income, diversification and long-term returns, amid an uncertain global economic environment.

In this content series, based on key findings from the Aviva Investors Private Markets Study, we explore some of the most important themes shaping private markets today.

From the rise of evergreen funds and the changing mechanics of private market access, to the opportunities in living sector real estate and the intense debate around private debt, we examine how investors are adapting portfolios to a more complex market backdrop.

Explore the articles to learn more about:

  • Why evergreen structures are reshaping investors’ access to private markets
  • How demographic and structural housing shortages are driving opportunities in the living sector
  • Why private debt is far more diverse and nuanced than recent headlines suggest

Read the full series to explore the trends, opportunities and structural shifts shaping private markets in 2026 and beyond.

No place like home: The case for living sector real estate

Across major markets, demographic change, urbanisation and affordability pressures are driving demand for professionally managed rental housing, while supply continues to lag behind.

Our living sector article takes a closer look at the living sector and explores why it is becoming an increasingly important area of opportunity within private market allocations.

Read the article to understand why the opportunity in living sector real estate is being driven by long-term structural changes rather than cyclical demand.

Shifts, myths and monoliths: A clearer view on private debt

Private debt is one of the most discussed – and misunderstood – areas of private markets.

Recent headlines have focused on gated funds, stressed borrowers, software sector exposure and concerns around liquidity. But much of the debate has treated private debt as though it were a single, uniform asset class.

Our latest article explains why that framing misses the bigger picture.

Open for business: Evergreens and the transformation of access to private markets

Evergreen and semi-liquid fund structures have become a growing part of the institutional toolkit, supported by regulatory change, investor demand and the need for more efficient capital deployment.

Despite recent headlines surrounding redemption pressure in parts of the US private credit market, evergreen structures are gaining traction across private markets.

Read the article to understand why evergreens are likely to become an increasingly important part of private markets investing.

Private Markets

As one of Europe’s largest private markets investment managers, we have the scale to access the full depth and breadth of private markets.

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Private Markets Study 2026

In the eighth edition of the study, we tap into the views of 500 institutional investors managing $6.5 trillion in assets across Asia, Europe and North America. Uncovering the key trends, opportunities and barriers investors are navigating in the pursuit of long-term outperformance. Explore how private markets will continue to drive institutional investor allocations in 2026 and beyond. 

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Private Markets: Built around you

Welcome to our case study series where we delve deeper into our private markets assets and regions we invest in.

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Important information

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