The firm asked managers whether they anticipate increased, decreased or flat fund raising. It found 85% of alternatives managers it spoke to predicted an increase in capital raising in 2024 relative to 2023.

They also found nearly one in three forecasted a rise of 50% or more, as well as an increase in the number of fund launches across all alternative asset classes.

See also: What does 2024 hold in store for the wealth management industry?

The professionals surveyed pointed to investors’ desire to diversify more as the key reason to expect a ‘bumper 2024’ for these assets.

The study gathered responses from managers in Europe, Asia, the Middle East, North America and the UK.

Ocorian also found notable regional trends, with US-based and Asian managers expressing stronger positive sentiment than European managers.

The full results from the survey are in the table below:

Yegor Lanovenko, co-head of fund services at Ocorian, said: “There is a high level of confidence about the year ahead among alternative fund managers both for their own funds and for the sector as a whole, with different regional sentiments emerging

“This expected surge in capital raising and fund launches turns the spotlight on efficiency and operational excellence, and fund managers increasingly rely on expert support and trusted partners to handle their fund launches and operations at scale.”

See also: Mattioli Woods eyes ‘robust acquisition pipeline’ as assets inch down to £15.2bn

This appointment comes following extensive research carried out by the asset manager which believes that the current market and economic conditions will provide a supportive environment to develop this new offering.

Nicoll starts his new role from today and will report to Piers Hillier chief investment officer at Royal London.

He comes from M&G where he held the role of chief investment officer of private and alternative assets.

Hillier commented: “As part of our continuing commitment to deliver best-in-class investment solutions and services to our clients, we place significant focus on carefully assessing markets to identify where the most attractive opportunities lie and how investors can best access these.

“We believe that private markets have an important role to play in portfolios, with current market conditions providing a very conducive entry point for our business as we seek to expand our range of capabilities into this space.”

Nicoll added: “We are seeing tremendous growth in private markets and I am thrilled to be leading the buildup of Royal London Asset Management’s private assets business. Private markets, with their flexibility and innovation, are going to be a central part of market developments allowing us to transition to a more sustainable future. I am eager to get started and to build a strong private asset offering solutions for our clients which will work for them for decades to come.”

While UHNW investors currently allocate on average 20% of their portfolios to private equity, they are now looking to decrease their real-estate and cash allocations to increase their private equity and private-debt holdings to 23% and 6% respectively.

Making it the second-largest asset allocation in UNHW portfolios, behind listed equities at 26% and ahead of real estate at 22% making it a mainstream alternative asset class.

Some 67% of respondents said the move was driven by the potential of enhanced returns as well as diversification of their portfolios.

Thomas Eskebaek chief executive at TitanBay said: “The private-equity industry has demonstrated its remarkable robustness in spite of recent economic headwinds, thanks to its ability to offer portfolio diversification and enhanced returns.

“As our study has evidenced, UHNWs are increasingly drawn to private-equity investments, marking a clear shift away from other, more traditional asset classes. With alternatives such as private equity, investors are encouraged to take an increasingly longer-term view of their portfolios.

“What remains to be seen is whether private equity will now become the norm, and if the regulatory landscape can keep pace with heightened interest from sophisticated investors.”

Bite Wealth Universe will have an offering of private market and alternative funds on asset classes including private equity, private credit, real estate and venture capital.

The funds available come from the white-labelled software’s clients and Bite Group’s own regulated investment manager.

The hub allows users to filter funds by strategy, style, liquidity, target return and geography based on their investment criteria

Justin Mason, head of Bite Wealth Universe, said: “Bite Wealth Universe allows our Bite Stream clients to amplify the reach of their funds and opportunities outside of their own audience to our larger universe of investors that we have built up over many years in the industry.

“Using our SaaS technology built for Stream and including funds from Bite Group’s own regulated investment manager on the investment platform, makes Bite Wealth Universe an attractive digital hub for investors looking for exciting new investment opportunities from a variety of providers all in one place.

“At the same time, asset managers benefit from a larger exposure to investors with an appetite of investing in alternatives, during what has been an unusually difficult fundraising environment.”

The Duncan & Toplis Group was founded in 1925 in Nottingham before it relocated to Grantham and expanded across the east Midlands. It provides businesses and individuals with a range of services including accountancy, audit and assurance, tax and business advice, wealth management, legal services, payroll, marketing, HR, and international business services.

Castlegate Financial Management, which is a subsidiary of Duncan & Toplis, offers advice on financial planning, wealth management, pensions, investments, tax and inheritance planning, as well as life and health insurance. The advice firm has 11 offices covering Lincolnshire, Leicestershire and Nottinghamshire.

Blixt is a European private equity firm headquartered in London, and is committed to investing in the UK accounting, wealth management and legal services sectors.

Following the PE-backing All Duncan & Toplis board members, directors and team members will remain in their existing roles, with Adrian Reynolds continuing as managing director of Duncan & Toplis and Andy Severn as managing director of wealth management business Castlegate.

The agreement with Blixt is subject to regulatory approvals and is due to complete in Autumn 2023.

Ideal partner

Reynolds said: “Our new growth strategy will start the next 100 years as we mean to go on, accelerating our progress and protecting that which makes our business special, while taking it to the next level.

“Blixt is an ideal partner for us because they share our focus on culture and growth for the right reasons. They also bring incredible expertise in strategic thinking, supporting us in the direction we want to travel in, helping us further along the path and accelerating our progress.

“Fundamentally, their support means that in the next few years, we can achieve what we would have hoped to achieve in over 10 years, and that’s very exciting.”