Invesco’s private markets holdings boost inflows and performance fees

Invesco’s private markets holdings helped drive up its performance fees and net long-term inflows in the third quarter of 2025.

The US asset manager reported net long-term inflows of $28.9bn (£21.7bn) for the quarter, up from $15.6bn in the previous three months, primarily driven by exchange-traded funds and index strategies, its China joint venture and India operations, fundamental fixed income, and private markets.

Within its $132bn private markets portfolio, $0.6bn of net inflows were recorded. Invesco stated that alternative highlights within the quarter include bank loans, supported by strong collateralised loan obligation demand. Direct real estate also generated net inflows, including through the INCREF credit fund.

The firm added that its direct real estate funds have $7bn of dry powder available to deploy into new opportunities.

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Performance fees for the quarter totalled $6.5m, earned primarily from private markets products, including private credit and real estate investments, the firm added.

Invesco also pointed to its private markets partnership with Barings as an area of growth in its third-quarter report, citing the launch of a multi-strategy credit offering for the US wealth channel and a Dynamic Credit Opportunity Fund, with US insurer MassMutual planning to invest $150m.

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“We reached record assets under management of $2.1tn with strong net long-term inflows of nearly $29bn, or 8 per cent annualised organic growth,” said Andrew Schlossberg, president and chief executive of Invesco. “Even more encouraging was the breadth of inflows, reflecting our diversified and scaled global platform.”

Across the wider business, total assets increased 6.2 per cent from the previous quarter, while long-term assets under management rose 16 per cent year on year.

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