Real asset investments will remain key building blocks in private banking in 2026

The results show that real asset investments remain a central component of banks' advisory portfolios. Residential and logistics properties in Germany and Europe as well as energy and transport infrastructure are particularly in demand. ELTIF structures are becoming increasingly important in many banks. This is also likely to have an impact on the relevance of open-ended infrastructure special funds, which are still comparatively underrepresented in bank portfolios. The market makes it clear that regulated special funds are likely to become the focus of investors in the long term – for example due to their transparency, risk management and stability. For Quadoro and EB-SIM, this confirms the strategic focus on regulated fund solutions.

The most important results of the survey at a glance:

• • Stable demand: Overall, real estate and infrastructure products recorded stable to slightly increasing placement volumes.
  • Investment objectives: Value retention and diversification clearly dominate – the total return is subordinate.
  • Structures: Open-ended, semi-liquid and closed-end vehicles remain in the lead.
    • Return requirements (target corridors):

    * Real estate: most common 4–5% IRR
    * Infrastructure: focus 5–7% IRR
    * Private debt: predominantly 5–10% IRR
    * Private equity: predominantly > 7% IRR

• Digitalization: Around 60% of sales processes are already fully or partially digitized.

For Quadoro, the results underline the growing relevance of professionally structured real estate and infrastructure investments as well as the importance of regulated special funds as a stable and transparent solution for private and institutional investors.