Industry consolidation: New investor classes drive acquisitions and partnerships

The top force fuelling M&A among private markets managers is the ambition to become as relevant to private wealth and insurance money tomorrow as institutional capital today.

ByJonathan Brasse

27 October 2025•9 mins read

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Fund Managers Asia-Pacific Europe North America Fund Managers

Industry consolidation: New investor classes drive acquisitions and partnerships

Alcentra (Merged with Benefit Street Partners)

Benefit Street Partners

BlackRock

Blackstone

Brookfield Asset Management

DWS

Franklin Templeton Investments

KKR

M&G Investments

Mercer

Mercer Advisors

Partners Group

PGIM Real Estate

Sixth Street

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