Asset Management

Private equity assets predicted to outgrow hedge funds by 2023

The alternative assets industry is projected to grow to $14tn in the next five years

The rapid growth of the private equity industry is set to continue, a new survey predicts.

The asset class, which currently manages $3.1tn of assets, is projected to grow by nearly $2tn over the next five years and overtake hedge funds by total assets under management, according to a survey of 420 asset managers and investors by data provider Preqin.

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