Alternatives beyond managed futures.
Alongside regulated active trading mandate programs, Gnosis introduces allocators to a wider set of alternatives through selected partners.
Market scale by class
- Private Markets$16tn+Closed-end AUM, 2025
- Hedge funds$5.15tnIndustry capital, 2025
- Venture Capital$1.02tnUS remaining value
- Art$57.5bnAnnual sales, 2024
- Broadway$1.91bnSeason grosses, 2025/26
Private Markets
Private equity, private credit and real assets, sourced through partner sponsors.
- $16tn to $16.5tn
- Closed-end commingled private capital AUM, 2025
- $616bn
- Global closed-end PE fundraising, 2025; down 17% year on year
- 8.7%
- Cambridge Associates US PE Index, calendar 2025
- $32tn
- Preqin forecast for global alternatives AUM by 2030
Valuations are appraisal-based. Public markets outperformed US PE in most periods shorter than ten years (Cambridge Associates).
Sources: McKinsey Global Private Markets Report, 2026; Cambridge Associates, 2026; Preqin, 2025
- Horizon
- Multi-year
- Liquidity
- Illiquid
Venture Capital
Early and growth-stage funds and co-investment opportunities.
- $339.4bn
- US VC deal value, 2025; 16,709 deals
- $1.02tn
- Remaining value held in US VC funds
- $66.1bn
- US VC fundraising, 2025; lowest since 2018
- 21.1%
- Cambridge Associates US VC Index, calendar 2025
VC outperformed public indices over shorter periods; its record was less consistent over the periods shown, notably against the Nasdaq (Cambridge Associates).
Sources: PitchBook-NVCA Venture Monitor Q4, 2026; Cambridge Associates, 2026
- Horizon
- Multi-year
- Liquidity
- Illiquid
Emerging Managers
Managers with early track records, introduced before they reach institutional scale.
- $5.15tn
- Global hedge fund industry capital, year end 2025
- $6.6bn
- 2025 net inflows to firms under $1bn AUM
- 14.6% vs 10.8%
- Funds under $100m vs PivotalPath composite, Jan to Nov 2025
Correlation varies by strategy. PivotalPath flagged several popular strategies at historically high correlation with the S&P 500 in late 2025.
Sources: HFR, 2026; PivotalPath via Business Insider, 2025; same, Dec 2025
- Horizon
- Varies by strategy
- Liquidity
- Semi-liquid to liquid
Art
Fine art investment structures offered by specialist partners.
- $57.5bn
- Global art sales, 2024; down 12% year on year
- 40.5m
- Dealer and auction transactions, 2024; up 3%
- $19.0bn
- Auction sales, 2024; down 25%
- +11.2%
- Artprice100 index, 2025; S&P 500 up 17%
Long-run co-movement is high: R of 0.88 between Artprice100 and S&P 500 levels, 2000 to 2026. Single years diverge: 2024 Artprice100 −8.3%, S&P 500 +24%.
Sources: Art Basel and UBS Global Art Market Report, 2025; Artprice, 2026
- Horizon
- Multi-year
- Liquidity
- Illiquid
Broadway Shows
Theatrical production financing alongside established producers.
- $1.91bn
- Broadway grosses, 2025/26 season; up 1.0%
- 14.6m
- Attendance, 2025/26 season; down 0.6%
- 74
- Productions in season; 35 new openings
- 21% to 25.6%
- Share of musicals opened 2008 to 2017 that recouped in full
No published equity correlation found. Outcomes depend on individual production results; most musicals in the study did not recoup.
Sources: The Broadway League, 2026; Bucknell University study in Significance, 2025
- Horizon
- Production cycle
- Liquidity
- Illiquid
Horizon and liquidity are indicative descriptors. Terms, eligibility and availability vary by offering, mandate and jurisdiction. Figures are third-party estimates, not Gnosis data.
Explore the partner network
Share your mandate and we will arrange an introduction to the relevant partner.