Key Takeaways
- • SS&C Intralinks' 2027 LP Survey, conducted with Reuters Insights among 400 private markets professionals (370 LPs and allocators), finds 62% of respondents say their alternatives portfolios exceeded expectations, with those far exceeding rising to 18% from 13% a year earlier.
- • Nearly one-third of allocators say a credible AI strategy is now a prerequisite for allocating capital to a manager, according to the survey.
- • Smaller managers are gaining favor: 49% of LPs prefer managers with under USD 500 million in AUM, up from 28% a year ago, while the share planning to cut manager rosters rose to 15% from 4%.
- • Private credit stands out, with more than 70% of respondents planning to increase allocations to the asset class, while nine in 10 plan to add to alternatives overall.
Summary
SS&C Technologies (Nasdaq: SSNC) announced the publication of its 2027 LP Survey, conducted in association with Reuters Insights among 400 professionals in private markets, including 370 limited partners and allocators. Responses were collected in Q3 2026. The survey examines how the alternative investments market is expected to evolve over the next 12 months.
According to the report, alternatives continued to perform in 2026, with 62% of respondents saying their portfolios exceeded expectations. The share reporting performance that far exceeded expectations rose to 18% from 13% in last year's survey. Despite this, commitments are becoming more selective. While nine in 10 managers surveyed still plan to add to alternatives, more than half (53%) intend to increase allocations by 4-6%. Private credit is the standout category, with more than 70% of respondents planning to raise exposure.
Manager selection criteria are shifting. Nearly half of LPs (49%) said they prefer managers with less than USD 500 million in assets under management, up from 28% a year ago. The share planning to add to manager rosters fell to 65% from 75%, while the share planning to cut rosters grew to 15% from 4%. Technology and data provision top the list of growing investor demands, with 41% citing increased expectations over the past two years. LPs increasingly expect real-time portfolio data, self-service dashboards, secure data rooms and standardized digital reporting.
AI capabilities are becoming a baseline requirement. According to the survey, 43% of LPs are scaling or embedding AI into their operations, and 95% of those respondents report measurable value. Ken Bisconti, general manager of SS&C Intralinks, said: "Performance alone is no longer enough." He added that for nearly one-third of allocators, a credible AI strategy is now a prerequisite for allocating capital to a manager. The findings are company-sponsored survey data as published by Business Wire.
According to the report, alternatives continued to perform in 2026, with 62% of respondents saying their portfolios exceeded expectations. The share reporting performance that far exceeded expectations rose to 18% from 13% in last year's survey. Despite this, commitments are becoming more selective. While nine in 10 managers surveyed still plan to add to alternatives, more than half (53%) intend to increase allocations by 4-6%. Private credit is the standout category, with more than 70% of respondents planning to raise exposure.
Manager selection criteria are shifting. Nearly half of LPs (49%) said they prefer managers with less than USD 500 million in assets under management, up from 28% a year ago. The share planning to add to manager rosters fell to 65% from 75%, while the share planning to cut rosters grew to 15% from 4%. Technology and data provision top the list of growing investor demands, with 41% citing increased expectations over the past two years. LPs increasingly expect real-time portfolio data, self-service dashboards, secure data rooms and standardized digital reporting.
AI capabilities are becoming a baseline requirement. According to the survey, 43% of LPs are scaling or embedding AI into their operations, and 95% of those respondents report measurable value. Ken Bisconti, general manager of SS&C Intralinks, said: "Performance alone is no longer enough." He added that for nearly one-third of allocators, a credible AI strategy is now a prerequisite for allocating capital to a manager. The findings are company-sponsored survey data as published by Business Wire.
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