Growing interest from family offices and individual investors will drive a 106% increase in private equity assets under management (AUM) by 2029, according to Preqin. The fastest growth will continue in funds targeting North America, followed by Europe, while Asia-Pacific-focused funds will remain in third place for AUM growth. Preqin’s report, released on 18 August, expects global private equity AUM to grow at a compound annual growth rate (CAGR) of 12.8%, reaching USD11.97tr by 2029, slower than the 15.1% CAGR seen in the previous six years. AUM growth for Asia-Pacific-focused funds is expected to slow slightly to 10.3% CAGR, largely due to the weaker performance of China-focused funds, which will contribute to the region’s comparatively softer growth.