1、GLOBALReal Assets ReportQ120252Q1 2025 GLOBAL REAL ASSETS REPORTPitchBook Data,Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligenceDaniel Cook,CFA Global Head of Quantitative Research and Market IntelligenceZane Carmean,CFA,CAIA Director of Quantitative ResearchInstitutiona

2、l Research GroupAnalysisAnikka Villegas Senior Research Analyst,Fund Strategies&Sustainable Investing Hilary Wiek,CFA,CAIA Senior Strategist,Fund Strategies&Sustainable Investing DataSara Good Data APublishingReport designed by Jenna OMalley and Adriana HansenPublished on June 17,2025Click here for

3、PitchBooks report methodologies.Click here for PitchBooks private market glossary.ContentsOverview3Spotlight:2029 Private Market Horizons8Infrastructure10Natural resources17Real assets horizon IRRsSource:PitchBook Geography:Global As of September 30,2024 Note:Q4 2024 is a preliminary quarterly retur

4、n.The“other natural resources”category contains agriculture,metals&mining,and timber funds,as well as other real assets&natural resources funds that do not sit neatly in one bucket.Q4 20241-year3-year5-year10-year15-year20-yearReal assets1.2%10.0%11.6%9.5%7.2%7.7%7.8%Infrastructure1.7%10.8%11.2%10.4

5、%9.7%9.1%8.9%Oil&gas-0.5%7.4%15.4%8.6%3.3%5.7%6.5%Other natural resources-2.4%7.1%7.0%5.6%3.4%4.3%4.4%Note:This report includes real assets debt in the real assets fundraising and performance data,unlike other reports such as the Global Private Market Fundraising Report and the Global Fund Performan

6、ce Report,in which private debt has its own section.As such,totals may differ from other recent reports.3Q1 2025 GLOBAL REAL ASSETS REPORTOverviewReal assets fundraising activity$132.0$103.3$131.6$129.2$136.5$157.3$152.2$183.9$139.1$106.8$52.0 22021922022819121723425316310518201520162017201820192020