Illiquidity premia in private debt

In the UK, urban family housing can combine the delivery of high-quality homes to underserved markets with tangible local outcomes, alongside long-term rental growth and attractive total returns. 

Aviva’s Investments, Wealth and Retirement business and Aviva Investors are working together to deliver financial and sustainable outcomes, connecting clients to their capital.

How can institutions forge impactful climate strategies that are right for them and their end beneficiaries? Our “Confidence in a changing climate” guide showcases some of the solutions we have developed to help. 

We believe understanding sustainability factors and trends is fundamental to effective asset management. This report sets out our approach and includes an overview of our holistic stewardship activities over the past year

In our Q1 2026 deep dive, our research team crunched the data to explore how evolving macro conditions are reflected in private debt returns.

In 2026, a lot of capital is chasing few genuinely deliverable infrastructure assets, while geopolitical turmoil is reshaping energy markets. Darryl Murphy, head of infrastructure, delves into what this means for investors.

Supporting employment, skills and training opportunities for local people produces lasting social value. But it is also key to delivering long-term investment returns.

Insurers are looking beyond public markets to achieve income, capital preservation and liability matching, especially as accounting standards and capital regulations evolve.

In 2026, investors are targeting increases to their private market allocations. Debt is here to stay, but equity is set to regain ground.

Our private markets research team have crunched the Q4 2025 data. They explain how evolving macro conditions are reflected in private debt returns.

Aviva’s Nick Molho looks at this year’s policy priorities and likely developments for the UK’s low-carbon agenda, and reflects on what it means for investors.

European infrastructure debt enters 2026 in a healthy position, with no shortage of demand for its diverse range of opportunities. Nonetheless, investors need to be alert to various risks and conduct thorough due diligence, argues Darryl Murphy.