Investor Report

Data from Buyouts’ Investor Report H1 2026 reveals that public pensions decreased their allocation to the asset class more than any other LP type.

Investors across all institution types displayed increased caution in the first half, with 67% keeping allocations unchanged, according to PEI's H1 2026 Investor Report.

Institutional investors in North America were mostly overallocated to PE last year, according to Buyouts data. But portfolio value declines helped drive a plurality of them into underallocation.

Public pension funds were the most active in reducing their exposure, with almost a third scaling back their allocations, according to PEI's full-year 2025 Investor Report.

Some 31% of LPs saw their private equity allocation drop between January and June – a dynamic most pronounced among foundations and endowments, according to PEI's H1 2025 Investor Report.

The average LP did not meaningfully increase their allocation to private equity last year, according to PEI's Investor Report Full Year 2024.

Find out which investors backed the most funds and which institution types had the highest increase in PE exposure in PEI’s half-year 2024 Investor Report.

The average PE exposure across all investor types surpassed 10% last year, up more than 4 percentage points compared with five years ago, according to PEI’s full-year 2023 Investor Report.

Foundations and endowments had the highest increase in relative exposure to the asset class, according to PEI’s half-year 2023 Investor Report.

Abu Dhabi Investment Authority, California Public Employees' Retirement System and New York State Common Retirement Fund are among the 20 largest allocators to 2022-vintage funds, PEI Group data shows.