LPs Expect Private Markets Managers to Level Up in 2027: SS&C Intralinks Survey

Preference for managers with less than USD 500 million in assets rose to 49% of limited partners surveyed, from 28% a year earlier.

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WINDSOR, Conn.--(BUSINESS WIRE)-- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the publication of the 2027 LP Survey. In association with Reuters Insights, SS&C Intralinks surveyed 400 professionals working in private markets, including 370 limited partners and allocators, to understand how the alternative investments market will change in the next 12 months.*

“Alternatives once again delivered in 2026, and LPs are still committing capital, but their expectations of managers continue to rise,” said Ken Bisconti, general manager of SS&C Intralinks. “Technology and data capabilities now rank among the most important criteria for selecting managers, alongside investment strategy. Performance alone is no longer enough. For nearly one-third of allocators, a credible artificial intelligence (AI) strategy is now a prerequisite for allocating capital to a manager.”

Key findings from the report include:

• Alternatives portfolios continue to outperform. 62% of respondents said their portfolios exceeded expectations. The share reporting performance that far exceeded expectations rose to 18% from 13% in last year’s survey.
• Commitments are getting more selective. While nine in 10 managers surveyed still plan to add to alternatives, more than half (53%) plan to increase their allocations by 4-6%. Private credit stands out, with more than 70% of respondents planning to increase their allocations to the asset class.
• Smaller, specialized managers are gaining favor. Nearly half of the LPs surveyed (49%) say they prefer allocating to managers with less than USD 500 million in assets under management, up from 28% a year ago. Additionally, the share of LPs planning to add to their manager rosters has declined to 65% from 75% a year ago, while the share planning to cut rosters has grown to 15% from 4% in the last year.
• LPs expect technological sophistication. Technology and data provision top the list of growing investor demands, with 41% citing increased expectations over the past two years. LPs increasingly expect managers to provide real-time portfolio data, self-service dashboards, secure data rooms and standardized digital reporting.
• AI is becoming table stakes for allocators. 43% of LPs surveyed are scaling or embedding AI into their operations, and 95% of those respondents are reporting measurable value. Nearly one-third said they would not allocate capital to a manager without a credible AI strategy.

Click here to read the full report.

SS&C Intralinks is the pioneer of the virtual data room, delivering software-enabled services across the entire deal life cycle, including deal marketing, deal prep, due diligence, insights and post-merger integration. Intralinks technology enables and secures the flow of information by facilitating M&A, capital raising and investor reporting. SS&C Intralinks has executed more than USD 35 trillion worth of financial transactions on its platform. DealCentre AI^TM from SS&C Intralinks is the first true AI-powered dealmaking platform built to transform every phase of the transaction lifecycle — from ideation through closing.

*Responses were collected in Q3 2026.

About SS&C Technologies

SS&C is a leading provider of mission-critical, AI-powered technology and services empowering financial services and healthcare organizations to work smarter, faster, and securely. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices worldwide. More than 23,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20261105590227/en/

For more information

Brian Schell
Chief Financial Officer
SS&C Technologies
Tel: +1-816-642-0915
E-mail: InvestorRelations@sscinc.com

Justine Stone
Investor Relations
SS&C Technologies
Tel: +1-212-367-4705
E-mail: InvestorRelations@sscinc.com

Media Contacts

Madison Gallo
Prosek Partners
E-mail: pro-ssc@prosek.com

Source: SS&C

Key Terms

limited partners financial

Limited partners are investors who provide most of the capital to an investment partnership but do not run its day-to-day business; they have liability only up to the amount they invested. Think of them as silent backers who hire a manager to make decisions and share in profits or losses; their importance to investors lies in shaping how much money a fund can deploy, the risk and return profile they receive, and the liquidity and fees associated with that investment.

private credit financial

Private credit is a form of borrowing where companies or organizations obtain loans directly from private lenders rather than traditional banks or financial markets. It often involves customized financing arrangements that are not traded publicly, making it a way for businesses to access funding outside of standard channels. For investors, private credit offers the potential for higher returns, but typically comes with increased risk and less liquidity compared to more conventional investments.

assets under management financial

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

virtual data room technical

A virtual data room is a secure online repository where companies store and share confidential documents during transactions like mergers, fundraising or audits. It matters to investors because it lets potential buyers or backers review sensitive information quickly while the owner controls who sees what and when—think of it as a locked filing cabinet with security cameras, access logs and timed permissions that speed due diligence and reduce the risk of leaks.