Private markets are entering a new phase of growth. According to Preqin’s Private Markets in 2030 Report, global alternative assets under management are forecast to reach $32 trillion by 2030, driven in part by private wealth capital. Fundraising is increasingly global, with managers raising capital across multiple regions and investor types.
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Managers now serve a broader, more diverse, and international investor base—from institutions to private wealth—while navigating increasingly complex fund structures, regulatory scrutiny, evergreen vehicles, and multi-jurisdiction compliance. Preqin notes that the convergence of public and private markets is reshaping investor expectations, driving demand for transparency, standardised data, and whole-portfolio solutions. At the same time, fundraising is competitive, with more capital chasing a growing number of funds, increasing the pressure to differentiate through investor experience as much as performance.
These trends create both opportunity and challenge: fund managers need to raise capital at scale while ensuring investors are supported throughout the fund lifecycle. Technology enables efficiency and scale, but human expertise remains critical at key moments. Below are five reasons why combining people and technology is essential for success in modern private markets.
1. Technology speeds up traditionally manual processes
Investor onboarding traditionally involved long fund subscription forms, repeated KYC checks, and extensive email back-and-forth. As more investors enter the asset class—and expectations shift toward a more streamlined, public-markets-style experience—technology plays a key role. By centralising information, automating compliance screening, and enabling investors to reuse approved data for future investments, technology helps managers scale access efficiently without creating operational bottlenecks.
2. People provide judgment where tech can’t
Technology can follow rules, but it cannot weigh nuance—especially in decisions with real-world implications. For example, determining whether to accept an investor into a fund or applying enhanced due diligence measures requires expert judgment to navigate shades of grey rather than black-and-white rules. Experienced teams interpret these factors, ensuring risk is managed thoughtfully and consistently. Technology supports this process, but judgment remains fundamentally human.
3. Timely human support keeps processes moving
Private markets investing is more complex than public markets, with the investment journey—from selection and subscription through to settlement and reporting—often raising questions. Queries about subscription questionnaires, acceptable KYC or tax documentation, or capital calls and distributions are common. These moments matter. Investors, particularly those new to private markets, need access to prompt, knowledgeable support.
For managers, this isn’t just a service consideration, it’s core to both investor relationships and regulatory obligations. While technology enables self-service at scale, human support needs to sit behind the process, ensuring queries are handled promptly and effectively. This supports faster fund closes and regulatory compliance at scale and enhances the investor experience.
4. Relationships drive fundraising success
Raising and servicing capital is about more than process—it’s about relationships. Technology handles administrative workloads, freeing managers to focus on strategy, investor engagement, and nuanced conversations that technology can’t replicate.
This is particularly important in today’s competitive environment. According to S&P Global Market Intelligence, global private equity fundraising fell around 11 % in 2025 to roughly $491 billion, highlighting the pressure on managers to differentiate through strong investor relationships and an exceptional experience. Technology also has an important role to play in a smooth experience from one fund to the next, making it easy for managers to cross sell and investors to reinvest.
5. The right balance prepares for future growth
Private markets are becoming increasingly global, diverse, and regulated. Technology—particularly AI and advanced analytics—has the potential to further drive efficiency. McKinsey’s latest Global Private Markets report notes that around 70 % of managers expect AI and analytics to have a significant impact over the next five years.
However, technology is only as effective as the inputs and oversight behind it. People are essential to interpret outputs, manage exceptions, and ensure technology is applied appropriately. Striking the right balance allows both elements to work efficiently, supporting growth while maintaining trust and compliance.
Looking ahead
As private markets grow and attract a broader range of investors, technology is essential for scaling operations—streamlining time-consuming, manual processes and creating a more seamless, retail-ready experience for investors accustomed to public markets platforms. Yet with the complexity and nuance of private markets, human support remains critical at the moments that matter most.
By combining both, managers can raise capital efficiently while preserving the human touch that underpins the long-term partnership approach on which the industry is built, supporting both individuals and institutions across the fund lifecycle. At Sonata One, this balance is central to our approach—combining institutional-grade technology to scale, with expert people delivering white-glove support to investors across the fund lifecycle, around the clock.
To find out how we’re doing this in practice for more than 53,000 investors, across 6,500 funds and 180 managers, book time with our team.
