Funds Europe Awards 2026 Private Markets Shortlist

Goldman Sachs Asset Management, J.P. Morgan Asset Management and LCM Partners are among the firms shortlisted for the private markets categories at the 2026 Funds Europe Awards, putting institutional investment capabilities and product innovation at the center of this year’s alternatives competition.

The awards include two dedicated private markets manager categories: Private Markets Manager for Institutional Clients and Most Innovative Private Markets Firm. A separate European Private Markets Administrator of the Year category recognizes service providers supporting private funds. Winners are due to be announced Nov. 12 at the London Hilton Bankside.

The shortlists arrive as European private markets continue to expand beyond conventional closed-end private equity funds. Institutional investors are allocating across private credit, infrastructure and other alternative assets, while managers are developing structures designed to address liquidity, distribution and portfolio-construction requirements.

Nine managers compete for institutional private markets award

The Private Markets Manager for Institutional Clients shortlist includes Aviva Investors, Fiera Capital, Gemcorp Capital, Goldman Sachs Asset Management, J.P. Morgan Asset Management, LCM Partners, Lendable Capital, Mirova and Swiss Life Asset Managers.

The lineup spans large diversified global asset managers as well as specialist private-market firms, reflecting the increasingly broad competitive landscape for pension funds, insurers, sovereign investors and other institutional allocations.

That competition is intensifying as institutional investors seek more than access to individual private equity funds. Large allocators increasingly build portfolios across direct investments, co-investments, private debt, infrastructure and specialist strategies while placing greater emphasis on liquidity management and implementation costs.

PE NEWSWIRE recently examined that trend through USS’s £5.1 billion private equity funds and co-investments portfolio, where the UK pension investor combines fund commitments with co-investments as part of a private-markets allocation approaching one-third of its overall investment portfolio.

The Funds Europe shortlist similarly favors managers capable of serving sophisticated institutional investors across increasingly complex private-market portfolios rather than focusing solely on fundraising scale.

LCM, Lendable and Muzinich compete on innovation

The Most Innovative Private Markets Firm category has a six-manager shortlist comprising Edmond de Rothschild Asset Management, LCM Partners, Lendable Capital, Muzinich & Co., Qualitas Funds and WTW.

LCM Partners appears in both principal private markets categories and is also shortlisted for European Responsible Investment Manager of the Year, giving the specialist credit manager three places across the awards. LCM’s own awards disclosure confirms the three Funds Europe nominations.

Muzinich said its nomination recognizes private-market solutions developed around its specialist corporate credit focus. The firm said the shortlist was announced June 18 and assessed activity between April 1, 2025, and March 31, 2026.

Innovation has become increasingly important as managers seek ways to broaden private-market access without abandoning the characteristics that differentiate private assets from listed securities.

One example is the growth of portfolios that deliberately combine public and private credit. PE NEWSWIRE has covered Capital Group and KKR’s European and Asian public-private credit strategy, which allocates approximately 40% to private credit alongside a 60% public fixed-income allocation.

Such structures reflect a wider challenge for alternatives managers: investors want private-market return opportunities while increasingly demanding better liquidity, simpler portfolio implementation and investment vehicles suited to different client segments.

Private credit expansion raises competitive stakes

The awards also come during a strong period for European private credit.

European direct lending reached a record €63.16 billion in the first half of 2026, according to Debtwire data previously reported by PE NEWSWIRE. The market nevertheless became more competitive in the second quarter as broadly syndicated loans and high-yield bonds regained ground in larger transactions.

That environment is particularly relevant to several shortlisted managers with credit capabilities.

Private lenders are simultaneously competing for institutional allocations and attractive underlying loans. Large fundraising totals therefore do not automatically translate into stronger investment outcomes: managers still need sufficient origination capacity and underwriting discipline to deploy capital without sacrificing pricing or creditor protections.

The expansion of private markets also increases the importance of operating infrastructure. Private assets require capital-call processing, valuations, investor reporting, fund accounting and administration that can be more complex than servicing conventional listed portfolios.

Nine firms shortlisted for private markets administration

Funds Europe has consequently placed private-market administration alongside investment management in its awards structure.

Altum Group, Arendt Investor Services, Aztec Group, BNP Paribas, Brown Brothers Harriman, CACEIS, IQ-EQ, MUFG Investor Services and Northern Trust are shortlisted for European Private Markets Administrator of the Year.

The presence of major global custodians alongside specialist administrators illustrates how servicing private funds has become a strategic market in its own right.

As private assets reach a broader investor base, administrators increasingly need to support structures spanning institutional closed-end funds, evergreen vehicles and other products with more frequent subscriptions, valuations or liquidity mechanisms.

Awards cover the broader European asset-management market

Private markets form only part of the 2026 Funds Europe Awards.

The 22nd annual program is divided across 10 sections covering investment managers, ETFs, responsible investment, fund technology, asset servicing, digital assets and index providers. More than 550 industry participants are expected to attend the November ceremony, according to Funds Europe.

The Funds Europe Awards 2026 program and categories include separate awards for equities and fixed income alongside the two private markets investment categories.

The awards are independently judged by industry experts, with judges meeting over two days before winners are announced, according to the organizer.

The 2026 Funds Europe Awards shortlist also shows substantial overlap between private markets and the wider asset-management industry. Goldman Sachs and J.P. Morgan, for example, appear in categories spanning asset management, ETFs and traditional investment strategies in addition to private markets.

That crossover reflects the institutionalization of alternatives. Private equity, private credit and infrastructure increasingly sit within broader investment platforms rather than operating as isolated businesses, while specialist firms continue to compete by offering deeper expertise in individual strategies.

For institutional investors, the competitive distinction is shifting accordingly. Scale remains important, but managers are increasingly being assessed on their ability to source investments, construct portfolios, provide customized exposure and develop structures that address the liquidity and operational constraints of private assets.

The Funds Europe private markets shortlists capture both sides of that shift: global managers competing for large institutional mandates and specialist firms seeking differentiation through private-market innovation.

The winners will be announced in London on November 12, 2026.