Alternative assets under administration as of Dec. 31 totaled $10 trillion, up 18.8% from the prior year, according to a new survey from eVestment.
SS&C Technologies ranked first among firms with total alternative assets under administration of $1.69 trillion as of Dec. 31. State Street Alternative Investment Solutions was second with $1.202 trillion, followed by Citco Fund Services at $1.2 trillion, and Bank of New York Mellon's alternative investment services business at $963.2 billion.
The rankings were identical as the previous year, as of Dec. 31, 2017, when SS&C ranked first at $1.52 trillion. State Street Alternative Investment Solutions was second with $1.27 trillion, followed by Citco Fund Services at $1.156 trillion and BNY Mellon's alternative investment services business at $912.9 billion.
Among different asset classes, which included private equity, hedge fund, real assets, fund of funds and liquid alternatives, a news release announcing survey results pointed to the hedge fund-of-funds segment as seeing a particular resurgence.
While hedge fund assets under administration totaled $4.468 trillion compared with total hedge fund-of-funds assets under administration of $934 billion, median participant AUA for funds of funds grew 10.99% for the year ended Dec. 31 compared with median hedge fund AUA growth of 4.13%, which the news release said was "one of the lowest readings in recent memory."
Real assets AUA totaled $1.4 trillion as of Dec. 31, with the median firm reporting growth of 20.64% from the year before. Private equity and debt assets under administration totaled $3.07 trillion as of Dec. 31, with the median firm reporting growth of 11.35% year-over-year.