Flexibility of private market investments draws Asian capital

Andrew Ho, Regional Head of Private Client - APAC, Ocorian

With family offices increasingly adopting the processes and organisational structures of institutions, you might expect their investment strategies to follow suit. Instead, many families and UHNWIs are doing the opposite – using their independence to take more calculated risks in pursuit of greater returns.

Nowhere is this more apparent than in the rise of private markets.

While private investing has always been part of portfolios, its re-emergence in the popular consciousness of the financial community came after the lull of COVID-19 and the willingness to embrace risk to seek greater returns in a low-interest environment.

At the end of 2025, private markets are no longer a niche - they are becoming the defining growth engine of global capital in the decade ahead. Our most recent ‘Global Asset Monitor’ report forecasts that private assets will grow by more than 70%, reaching close to $24tn by 2030.^[1]

Much of the immediate growth has been driven by Asian markets.

Asian investment in PE funds redraws the map

In the private equity (PE) space, Asia’s assets are changing the global balance of the class.

Around a third of global growth this year was achieved through Asia-based funds, despite them making up just one fifth of underlying portfolio assets. An increase of 15.8% to a record $2.1tn marks significant growth in the space and shows how popular PE has been for investors in the region. It also crucially indicates that there is further scope to increase AUM, value and ambition.

PE figures are the leading barometer of private market success, being the most visible and measurable private asset class, and they help explain why so many investors are turning to private markets.

Why go private?

UHNWIs and families are increasingly looking outside standard public markets, not just because of the returns but also because of the time horizons. By investing in private enterprises with room to grow, returns can be quick as well as sizable. On the other end of the scale, longer-term horizons allow for more meaningful, transformative growth that is more sustainable as it’s deployed under less pressure and reporting stresses.

We’ve recently written about Hong Kong’s booming pre-IPO market, which reflects similar risk appetite and growth expectations that have long been present in private markets.

The clients and intermediaries we work with in Asian markets have often generated significant wealth through their own business enterprises, so the language of investing in private businesses through private markets is a familiar one for them.

When their own expectations are to be able to have a direct influence on rapid growth based on scalability and sound strategy, there is an obvious synchronicity with investments that enable them to meet these goals – which is exactly what’s on offer with PE and other direct investments.

Global trends are also apparent in Asian markets. Succession of wealth to next generations results in greater diversity of thought and portfolios, defining a purpose can lead to investments in new areas, and a greater awareness of distinctly modern industries and fields further varies the family’s exposure.

The main pull factor, though, is the one outlined at the start: flexibility. Family offices may be becoming more sophisticated – thanks to more personnel, greater governance and more robust structures – but the ability to move swiftly and decisively is still prized, especially among Asian UHNWIs and families.

Flexibility for favourability

Private investing offers an element of flexibility simply not found in public markets, and this can result in a range of incentives from favourable dealmaking to greater input into a business.

Many UHNWIs and families are becoming selective about what they invest in, and private markets allow for a greater dictation of terms, creative dealmaking and closer alignment to values. We’re seeing families work together to achieve results, deals being structured around time horizons and voting rights as well as capital, and more discussions around intention than ever before.

It all makes for a more bespoke approach to investing that has the flexibility to give the family what they want.

We’re seeing private capital deployed across many different industries. After all, a consequence of flexibility is that a family can be as niche as they want when choosing what to invest in; and every family is coming from a unique context so prioritises different values and goals.

One thing that unites many UHNWIs and families, however, is a desire to gain early exposure to emerging industries. Direct deals and co-investments targeted at growth industries like AI computing, biotech, next-generation healthcare and even space tech appeal as much for their reputation-enhancing abilities as they do for their ability to generate stable returns.

Whatever values are being sought, returns required or industries targeted, getting sound advice is crucial before taking the leap into private markets. It’s an exciting space but it’s also one that requires expertise to navigate everything from dealmaking to governance to reporting to board responsibilities.

Flexibility may be the key draw, but a measure of structure is still a vital ingredient.

Ocorian’s experts offer a full spectrum of services to support private investments, from setting up the right vehicle to developing your strategy to building an administrative platform to achieve your aims – we are there every step of the way. To learn more visit www.ocorian.com

^[1] https://www.ocorian.com/global-asset-monitor-us-october-2025