Alternative investment allocation database
Review alternative investment allocations from endowments, family offices and investor networks, pensions and sovereign funds, and sponsor and manager research.
Showing 51 of 51
U.S. sovereign permanent fund
As of June 30, 2025 · Actual holding
Private Income and Tactical Opportunities are retained as source-native categories; AltTrack does not infer their internal strategy mix.
Total fund return
9.35%
Fiscal year ended June 30, 2025
Alternative-asset-manager research model
As of June 30, 2025 (modeled history begins December 31, 2006) · Research model
This is Apollo's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
Not disclosed
Alternative-asset-manager research model
As of June 30, 2025 (modeled history begins December 31, 2006) · Research model
This is Apollo's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
Not disclosed
Alternative-asset-manager research model
As of June 30, 2025 (modeled history begins December 31, 2006) · Research model
This is Apollo's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
Not disclosed
Alternative-asset-manager research model
As of June 30, 2025 (modeled history begins December 31, 2006) · Research model
This is Apollo's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
Not disclosed
Asset-manager research model
As of June 2025 (modeled history begins December 2004) · Research model
This is Ares's own hypothetical model and stated analysis, not a real institution's holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
~9%
December 2004–June 2025
Asset-manager research model
As of June 2025 (modeled history begins December 2004) · Research model
This is Ares's own hypothetical model and stated analysis, not a real institution's holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
~6%
December 2004–June 2025
Asset-manager research model
As of June 2025 (modeled history begins December 2004) · Research model
This is Ares's own hypothetical model and stated analysis, not a real institution's holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
~8%
December 2004–June 2025
Asset-manager research model
As of June 2025 (modeled history begins December 2004) · Research model
This is Ares's own hypothetical model and stated analysis, not a real institution's holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
~7%
December 2004–June 2025
Australian government investment fund
As of June 30, 2025 · Actual holding
This is a separately mandated Australian government fund managed by the Future Fund Management Agency, not the main Future Fund portfolio.
Total fund return
10.3%
Year ended June 30, 2025
Sovereign wealth fund
As of June 30, 2025 · Actual holding
Returns are for the Future Fund itself, not the agency’s other separately mandated funds.
Total fund return
12.2%
Year ended June 30, 2025
Alternative-asset-manager educational model
As of December 31, 2023 (10-year modeled history) · Research model
This is Blackstone's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
7.4%
January 1, 2014–December 31, 2023
Alternative-asset-manager private-wealth research model
As of December 31, 2023 (modeled history begins December 31, 2015) · Research model
This is Blue Owl's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
10.48%
December 31, 2015–December 31, 2023
Alternative-asset-manager private-wealth research model
As of December 31, 2023 (modeled history begins December 31, 2015) · Research model
This is Blue Owl's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
9.86%
December 31, 2015–December 31, 2023
Alternative-asset-manager private-wealth research model
As of December 31, 2023 (modeled history begins December 31, 2015) · Research model
This is Blue Owl's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
9.09%
December 31, 2015–December 31, 2023
U.S. high-net-worth individual survey cohort
As of 2024 survey · Survey composite
This is an age-cohort average reported by high-net-worth individuals making personal allocation decisions, not institutional holdings, a target allocation, or a recommendation.
Average portfolio return
Not disclosed
U.S. high-net-worth individual survey cohort
As of 2024 survey · Survey composite
This is an age-cohort average reported by high-net-worth individuals making personal allocation decisions, not institutional holdings, a target allocation, or a recommendation.
Average portfolio return
Not disclosed
U.S. public pension
As of April 30, 2026 · Actual holding
'Income' is CalPERS' asset-class label and must not be mistaken for portfolio distributions. CalPERS launched a Total Portfolio Approach in July 2026; its former 40% private-markets target is historical and is not shown here.
Total fund return
14.8%
Fiscal year ended June 30, 2026
U.S. public pension
As of June 30, 2025 · Actual holding
The report notes that derivatives providing additional public-equity exposure are not included in the allocation table.
Total fund return
8.53%
Year ended June 30, 2025
Global high-net-worth individual survey composite
As of January 2024 · Survey composite
This is a global average reported by individual high-net-worth respondents, including more than 1,300 ultra-high-net-worth respondents, not an institutional allocation or recommendation.
Average portfolio return
Not disclosed
Corporate defined-benefit pension
As of December 31, 2025 filing · Policy target
The company defines alternative investments as including hedge funds, reinsurance, private-equity limited partnerships, and real assets, but does not publish each component's percentage. Those broad categories are not split here.
Total fund return
3.8%
Five years ended December 31, 2025
Canadian public pension
As of March 31, 2025 · Actual holding
CPP Investments uses a hybrid implementation model spanning direct investments, co-investments and partners, secondary investments, and fund investments. The displayed actual combined-fund allocation is distinct from its leveraged strategic targets.
Total fund return
9.3%
Fiscal year ended March 31, 2025
U.S. public pension
As of June 30, 2025 · Actual holding
Strategic Investments and Active Credit remain source-native categories. Active Credit combines public and private exposures, so AltTrack does not recast it as private credit.
Total fund return
10.32%
Fiscal year ended June 30, 2025
Regional family-office survey composite
As of Calendar year 2023 · Survey composite
This regional case study covers only 24 China-based family offices, and some visuals may have fewer responses. It is useful as a distinct peer reference, not as a global or North American family-office norm.
Average portfolio return
12.7%
Calendar year 2023
Global family-office survey composite
As of 2025 survey · Survey composite
This is an average across a global family-office survey, not an individual family office’s holdings, a recommended allocation, or an investable composite.
Average portfolio return
Not disclosed
University endowment
As of June 30, 2025 · Actual holding
Private-equity subcategories disclosed by Harvard are not split in the card’s source-native allocation list.
Total fund return
11.9%
Fiscal year ended June 30, 2025
Canadian public pension
As of December 31, 2025 · Actual holding
HOOPP publicly discloses a complete but unusually broad two-category allocation. Capital markets and private markets are preserved exactly and are not subdivided from narrative descriptions.
Total fund return
7.7%
Year ended December 31, 2025
Australian government investment fund
As of June 30, 2025 · Actual holding
This is a separately mandated Australian government fund managed by the Future Fund Management Agency, not the main Future Fund portfolio. Its short track record reflects a November 2023 inception.
Total fund return
10.0%
Year ended June 30, 2025
Alternative-investment platform research model
As of April 30, 2025 (20-year analysis through December 2024) · Research model
This is iCapital's own hypothetical whole-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled historical return
Not disclosed
Canadian public institutional investor
As of December 31, 2024 · Actual holding
CDPQ rebranded as La Caisse after this reporting period. The historical report name is retained so the citation remains auditable.
Total fund return
9.4%
Year ended December 31, 2024
U.S. public pension
As of September 30, 2025 · Actual holding
Real Return and Opportunistic Pools is a combined source category and is not split or recast.
Total fund return
9.59%
Fiscal year ended September 30, 2025
Survey composite
As of June 30, 2025 · Survey composite
Alternatives ranged from 12.5% for institutions under $50 million to 62.5% for institutions over $5 billion. The all-participant dollar-weighted allocation is not representative of a typical institution or individual investor.
Total fund return
10.9%
Fiscal year ended June 30, 2025
Asset-manager committed-capital liquidity model
As of November 30, 2021 · Research model
This is Neuberger Berman's own hypothetical committed-capital liquidity-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled expected return
6.8%
Capital market assumptions as of November 30, 2021
Asset-manager committed-capital liquidity model
As of November 30, 2021 · Research model
This is Neuberger Berman's own hypothetical committed-capital liquidity-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled expected return
3.78%
Capital market assumptions as of November 30, 2021
Asset-manager committed-capital liquidity model
As of November 30, 2021 · Research model
This is Neuberger Berman's own hypothetical committed-capital liquidity-portfolio model and stated analysis, not real client holdings, a neutral market fact, an investable portfolio, or a recommendation from AltTrack.
Modeled expected return
1.89%
Capital market assumptions as of November 30, 2021
U.S. public pension
As of March 31, 2025 · Actual holding
The public release combines unlike exposures in two broad source-native categories. AltTrack preserves those labels instead of guessing at an internal split.
Total fund return
5.84%
Fiscal year ended March 31, 2025
U.S. public pension
As of June 30, 2025 · Actual holding
The source separately reports real-estate equity and real-estate debt; AltTrack preserves both rather than combining them.
Total fund return
10.6%
Fiscal year ended June 30, 2025
Sovereign wealth fund
As of June 30, 2025 · Actual holding
The report provides parenthetical detail within its broad listed-equity and fixed-income categories. Those source-native labels are retained rather than split into reconstructed slices.
Total fund return
11.84%
Year ended June 30, 2025
Sovereign wealth fund
As of December 31, 2025 · Actual holding
Norway had 2.1% combined in the two disclosed unlisted real-asset categories and no private-equity allocation.
Total fund return
15.11%
Calendar year ended December 31, 2025
Canadian public pension
As of December 31, 2025 · Actual holding
Public and private credit remain separate source-native categories, as disclosed in the annual report.
Total fund return
6.0%
Year ended December 31, 2025
Canadian public pension
As of December 31, 2025 · Actual holding
Credit is retained as a source-native category and is not reassigned without a published split.
Total fund return
6.7%
Year ended December 31, 2025
U.S. public pension
As of June 30, 2025 · Actual holding
Total Net Leverage is positive in this snapshot and remains a separately labeled source-native category rather than being recast as an asset class.
Total fund return
9.67%
Fiscal year ended June 30, 2025
Canadian public-sector pension investment manager
As of March 31, 2026 · Actual holding
Capital Markets and Credit Investments are broad source-native categories. They are not subdivided without a published percentage split.
Total fund return
6.5%
Fiscal year ended March 31, 2026
Family-office survey composite
As of Calendar year 2024 · Survey composite
The allocation is an average across participating North American family offices, not a recommended portfolio or an investable composite. Individual family-office portfolios vary materially.
Estimated portfolio return
11%
Calendar year 2024
University endowment investment pool
As of October 8, 2025 · Policy target
The allocation is a policy target dated one day after Stanford published the Merged Pool return through June 30, 2025. The two dates are shown separately and are not represented as same-day actual holdings.
Total fund return
14.3%
Fiscal year ended June 30, 2025
U.S. public pension
As of August 31, 2025 · Actual holding
The ACFR return table is dated June 30, 2025 while the allocation is dated August 31, 2025. Both are for the same Pension Trust Fund, but the two-month date difference remains explicit.
Total fund return
10.75%
Year ended June 30, 2025
High-net-worth individual investor network
As of Q4 2024 (trailing 12 months) · Survey composite
This is an aggregate of allocation decisions reported by individual high-net-worth TIGER 21 members, not an institutional portfolio, recommended allocation, or investable composite.
Average portfolio return
Not disclosed
Global family-office survey composite
As of 2025 strategic allocation · Survey composite
This is the reported global average for very large family offices, not an individual investor’s allocation, a recommendation, or an investable composite.
Average portfolio return
Not disclosed
U.S. public pension
As of June 30, 2025 · Actual holding
Private Investment Partnerships is a source-native mixed category. It is not reassigned to a single canonical private-market category.
Total fund return
9.9%
Fiscal year ended June 30, 2025
U.S. public pension commingled trust
As of June 30, 2025 · Actual holding
The allocation table is the CTF by-asset-class view. The same report also shows an overlay-adjusted column; AltTrack does not blend the two presentations.
Total fund return
9.04%
Fiscal year ended June 30, 2025
University endowment
As of FY2020 (published September 2019) · Policy target
Yale has not published a comparably detailed current allocation in its recent public return releases. This is a historical target and must not be presented as Yale's current allocation.
Total fund return
5.7%
Fiscal year ended June 30, 2019
This gives you real reference points for how institutional investors, wealth managers, and fund sponsors actually approach combining public markets with private equity, real estate, private credit, and other alternative investments. Seeing the disclosed range — from a sovereign fund with no private equity at all to an endowment allocating more than 40% — offers real context for thinking through your own alternative investment allocation. Sponsor and manager research shows the thinking and construction behind portfolios from firms that individual investors might actually invest through. Peer surveys from investor networks show how other individual and high-net-worth investors allocate in practice, which may be more directly relevant to your own situation than a large institution's holdings.
They show dated allocations and documented returns reported by selected institutions and surveys, plus clearly labeled hypothetical research-firm models. Each entry identifies whether its allocation is an actual holding, policy target, survey composite, or research model, and labels the return according to its source and denominator.
These figures are shown as reference points, not a recommendation. Research models are hypothetical analyses rather than actual holdings. Institutions differ from individual investors in liquidity needs, tax treatment, time horizon, access to managers, staffing, and governance — all factors that affect what allocation is appropriate for any specific investor. For a closer look at how these considerations apply to individual portfolios, see how much of your portfolio should be in alternative investments.
Each source defines and reports its own categories. We preserve those labels rather than forcing unlike strategies into a common taxonomy.
The figures come from the institutions' reports, regulatory filings, and the named survey and research publications. Review every citation, transformation, and methodology note on the allocation sources and methodology page.
Allocation figures shown are based on each source's public disclosures, sourced and dated for each entry. Institutional and survey allocations may not reflect current allocations, which can change over time; sponsor and manager models are hypothetical analyses, not actual holdings. None are independently verified by AltTrack. Categories, return methods, and definitions vary by source and are not standardized across entries — figures from different entries should not be treated as measured on the same basis. AltTrack is not affiliated with, endorsed by, or connected to any institution, survey provider, sponsor, or manager referenced on this page. This content is provided for general informational and educational purposes only and does not constitute investment advice or a recommendation regarding your own portfolio.