Billionaire UBS Clients Plot Private Equity Funds’ Retreat

UBS Group AG’s billionaire clients are planning to curb allocations to private equity funds amid a global slowdown in the market that’s left many buyout firms struggling to raise new cash.

Almost a third of 87 individuals commanding 10-figure fortunes surveyed by UBS are looking to cut contributions to private equity vehicles over the next 12 months, the highest decrease of more than a dozen investment topics cited in the lender’s Billionaire Ambitions Report 2025.