A Glimpse of the Private Fund Landscape.
The number of private funds managed by registered investment advisers as reported on Form ADV
increased significantly from 2018 to 2023 by approximately 85%, an increase from 58,054 to
107,642 funds, resulting in a compounded annual growth rate of 13%.
Similarly, the corresponding total gross assets managed increased significantly from 2018 to
2023 by approximately 71%, an increase from $16,946 billion to $28,932 billion, for a
compounded annual growth rate of 11%.
If the current growth rate persists for the next five years, it's possible that we could witness
the total number of funds reaching approximately 199,587 totaling $40,395 billion in gross
assets. This would signify the introduction of an impressive 91,945 new funds into the market,
accompanied by a substantial increase of $20,462 billion in new assets.