Private markets are gaining attention in thematic investing and are increasingly seen as offering a unique opportunity for investors to tap into emerging trends, according to a new report by BNP Paribas Asset Management.
According to the firm’s 2025 Thematics Barometer, investors now see private markets as a primary environment for thematic strategies.
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The firm said the growth of private market allocations is one of the most “remarkable” developments it has recorded.
“Private markets are experiencing growth, driven by interest from institutions, while intermediary investors still favor fundamental active equities (+eight per cent since 2023),” it said in the report.
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“By investing in private companies, investors can access innovative and disruptive businesses that are driving growth and transformation in key sectors such as sustainability, healthcare, and technology.
“The 2025 results showcase that allocation to more traditional asset classes is relatively consistent, but investors deploying thematics in private markets continue to increase buoyed by interest from institutional investors.”
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Europe and North America investors lead the way with larger allocations to private markets – more than 20 per cent – while Asian investors maintain high allocation in traditional asset classes, it said.
