Private capital investment across growth markets rose 28pc in Q3
The value of private capital investment rose 28 per cent across emerging and growth markets through the third quarter of 2025 to reach $110.9bn (£84.8bn), despite “muted” transaction volume.
According to the Global Private Capital Association (GPCA), its latest data points to a strengthening, albeit cautious, rebound across Asia, Latin America, Africa, CEE and the Middle East, supported by improving public-market sentiment and easing macro headwinds.
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India, SouthEast Asia, and the Middle East have already surpassed their full-year 2024 totals, driven by infrastructure activity in SouthEast Asia and the Middle East, and increasing private credit deployment in India.
The GPCA reported that, with more than $28.1bn deployed in infrastructure deals through the first three quarters of the year, 2025 is already the second-highest year on record.
However, the GPCA said that “uneven exit landscapes, prolonged fundraising cycles and liquidity constraints” continued to test investors.
Private capital fundraising in the Middle East reached $2.8bn, making it the region’s second-highest year on record. This was led by BlueFive Capital’s $2bn debut buyout fund.
The GPCA said that regulatory and investment initiatives are helping to attract global capital to the Middle East, with programs such as ADGM, which is Abu Dhabi’s international financial centre, as well as the Dubai International Financial Centre, and Saudi Arabia’s Regional Headquarters Program “fueling a wave of activity”.
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Venture fundraising in the Middle East also grew, climbing to a record high of $593m, with final closes from Beco Capital, Saudi Technology Ventures and VentureSouq.
Elsewhere, the data showed that private capital exit activity rose to $72.8bn across the first three quarters, driven by a “revival” in public market listings and a pickup in strategic sales.
China has emerged as “a leading driver of exits”, nearly doubling its 2024 public-market exit total with $10.5bn generated in 2025, to date, following a significant slowdown over the past two years.
Bain Capital’s $4bn sale of data centre platform WinTriX to a local consortium was a “standout” transaction in the third quarter.
The GPCA’s members manage more than $2tn of assets across 130 countries.
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