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