Alternative Assets Operations Services State of the Market 2025

Alternative asset management is rapidly transforming, driven by a projected surge toward US$30 trillion in Assets Under Management (AUM) by 2030. This growth is creating unprecedented operational complexity, with institutions now facing new investor demands, irregular workflows, and increasingly stringent global regulations, such as the SEC’s private fund disclosure rules and Europe’s AIFMD II. Enterprises are redesigning their operating models to stay compliant, scale efficiently, and deliver real-time insights. Strategic partnerships with Business Process Services (BPS) and technology providers, along with adopting AI, automation, and cloud-native tools, are key to supporting this shift.

Operations have become a key differentiator, with providers expanding beyond traditional fund administration to deliver integrated, investor-centric experiences. Modular service models, AI-/ML-based analytics, agentic AI tools, and ESG-aligned platforms help streamline processes and ensure scalability. The report explores asset class-specific nuances and shows how leading firms are addressing specialized needs across private equity, hedge funds, private credit, real assets, and digital/tangible alternatives. Talent reskilling, regulatory adaptability, and workflow innovation are central to building future-ready operations for alternative investments.