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  "documentTitle": "mi guide to alternatives",
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  "authorName": "J.P. Morgan Asset Management",
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  "notes": "The chart displays a clear upward trend in AUM across all categories, with private equity consistently being the largest component.",
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      "text": "Source: HFR, Preqin, J.P. Morgan Asset Management. 2025 data are as of 2Q25. Assets under management is defined as managed assets in private closed-end funds.",
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      "text": "Natural resources, Private credit, Infrastructure, Real estate, Hedge funds, Private equity",
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      "text": "Global alternative assets under management: $21.0tn",
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      "text": "Global alternative assets under management USD trillions, end of period",
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