A growing number of individual investors are embracing private markets. Goldman Sachs, in partnership with 8 Acre Perspective, surveyed 1,000 high-net-worth and ultra-high-net worth investors to gain insights into their evolving needs, and how to further open the door to private market opportunities.
Data collection took place in July-August 2025. All survey respondents had at least $1 million investable assets, with representation from the $10MM+, $20MM+ and $30MM+ wealth tiers. Insights from the research include:
- The adoption of alternative investments notably increases with higher wealth levels: 39% of individuals with $1–5 million in investable assets utilize alternatives, a figure that rises to 80% for those with $10+ million.
- There’s a notable divergence between the perceived risk of alternative investments and their actual use. Over half of individual investors surveyed label alternatives as “high risk,” yet the wealthiest portfolios heavily rely on them for performance and diversification.
- Millennials are at the forefront of a significant shift in investment behavior, demonstrating greater familiarity and higher allocations to alternatives compared to older generations. Millennials are also more motivated by access to innovation and unique opportunities, signaling a future where alternatives will play an increasingly central role in portfolio construction.
