Global private debt assets rise to new record high of $1.19 trillion

• Ocorian’s Global Asset Monitor shows the value of private assets has risen nearly three times as fast as public assets over the past 15 years
• Analysis highlights value of all private market assets increased to a record $14.34 trillion

The total market value of private debt assets globally hit a new high of $1.19 trillion at the end of 2024, increasing by 3.9% since 2023, new analysis* from Ocorian, market leader in asset servicing for private markets and corporate and fiduciary administration, shows.

Ocorian’s Global Asset Monitor – which tracks the major trends in public and private markets – reveals that the market value of private debt assets has risen by 435% since 2009 and 116% since 2019. Private debt market values have fluctuated between 2009 and 2016, after which they have grown year on year. Values first hit passed the $1 trillion mark in 2022 rising to $1.15 trillion in 2023 before hitting the new high of $1.19 trillion in 2024.

The value of assets across all private market asset classes rose last year apart from real estate, which recorded a 2.5% drop, while infrastructure recorded the biggest increase year on year at 12.4% narrowly ahead of private equity at 11.6% and private debt at 3.9%.

Ocorian’s Global Asset Monitor also reveals that over the long-term combined private assets (private equity, private infrastructure, private debt and private real estate) have grown nearly three times as fast as public assets, rising 618% in the past 15 years. Last year the value of private market assets increased by an estimated $1.27 trillion – around 9.7% – to a record $14.34 trillion which excludes undeployed capital, so-called dry powder.

The table below shows the breakdown of the asset classes Ocorian has tracked and how values have increased.

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Private assets have become increasingly attractive due to their ability to help with diversification as well as returns which have been 4.8% higher per year since 2000**, Ocorian’s Global Asset Monitor shows. Private equity accounts for around 75% of the total value.

Ocorian is predicting ongoing strong growth in private markets – driven by a combination of strong demand from investors and privately-owned companies. This demand for capital is strongest in the US while the supply of funds is strongest in Asia.

Beata Frois, Commercial Director – Capital Markets, at Ocorian said: “Our analysis shows that private debt has experienced strong growth over the long-term, rising to a new record high in 2024. Alongside the strong growth of other private markets, we predict this to continue, with strong demand from investors and privately-owned companies.”

The table below shows the growth in the value of total public markets assets, total private markets assets and total private debt only assets over the past 15 years.

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Ocorian is a global leader in fund administration, capital markets, corporate and fiduciary services. Ocorian helps its clients solve complex problems so they can unlock new value, optimise investment performance and build their competitive advantage.