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A new analysis from Ocorian, a market leader in asset servicing for private markets and corporate and fiduciary administration, reveals that Africa-based private market funds held around $51 billion in assets under management as of 18 November 2025. 

Private equity funds under management totalling $31.9 billion account for 63% of the total private market funds in Africa. Infrastructure funds come next at $13.1 billion, followed by private credit funds at $3.3 billion. Real estate accounts for $2.6 billion.

More than half (52%) of global assets in private market funds are in US-domiciled funds, Ocorian’s Global Asset Monitor reveals. This compares to a quarter (25%) in Asia and around a fifth (19%) in Europe. Africa- and the Middle East-domiciled funds account for 0.4% and 0.5%, respectively. 

"Private markets in Africa represent only a small part of global private markets but can play an important role in driving economic growth with impact,” said Novan Maharahaje, Head of Fund Services (Africa, Middle East & Asia) at Ocorian. “Government finances are under pressure, and risk-averse banks may be unwilling to lend to businesses seeking investment, which opens a role for private markets in general and private equity in particular.”