BOSTON, January 26, 2026 – Surging demand for European-domiciled evergreen portfolios investing in private markets has seen Brown Brothers Harriman (BBH) Investor Services win a raft of new launch and migration mandates for clients in the region.
Last year saw BBH Investor Services support 20 new launches and migrations for over a dozen managers seeking to launch European-domiciled evergreen portfolios investing in private markets.
This momentum reflects the broader growth projections for the evergreen funds industry, with estimates predicting assets under management (AUM) could increase roughly twelvefold to $4.1 trillion by 20301.
BBH Investor Services’ 2025 Private Markets Investor Survey2 also highlighted the strong intentions of both institutional investors and wealth advisors to increase private market allocations, with a particular preference for evergreen vehicles with more flexible liquidity provisions. This trend is also reflected in BBH’s Multi-Family Office, which has expanded the number of private investments in its client portfolios in response to growing investor interest.*
The 20 fund launches BBH Investor Services worked on in 2025 are composed of a mix of asset class strategies across syndicated and private debt, primary and secondary private equity and real estate, as well as multi-strategy and fund of fund structures. UCI Part II Luxembourg fund structures dominate the product mix, followed by ELTIFs and RAIFs.
BBH Investor Services plans to further complement its existing evergreen servicing capabilities with support for US BDC’s and UK LTAF’s in Q1 of 2026, offering a comprehensive global evergreen platform.
“The launch of such a large number of evergreen funds over a 12-month period points to the growing demand we are seeing from the global wealth investor channel whose managers want access to private markets,” said Lata Vyas, Head of Alternative Client Solutions for BBH Investor Services.
“Alternative asset managers are swiftly building out their global evergreen portfolios, with many paying increasingly close attention to the way these funds are marketed and the ease of their distribution as market momentum builds.”
To learn more, visit BBH's Alternative Fund Servicing page.
*Through our Capital Partners line of business, we offer multi-family office solutions, investment management, private equity, and corporate advisory and banking services. Capital Partners’ products and services are only offered in select jurisdictions in which they are permitted.
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About Brown Brothers Harriman
Brown Brothers Harriman (BBH) is a global financial services firm known for premium service and specialist expertise. We have a 200-year track record helping clients innovate and navigate complex financial markets. Our 6,000 employees serve clients and their investments in over 90 markets across BBH’s 18 offices. As a private partnership, we are uniquely built to put clients first and create success that lasts.
BBH Investor Services is a leading provider of asset servicing and operating model solutions to global asset managers and financial institutions. Asset servicing solutions include custody, global tax services, depositary and trustee, accounting, administration, and transfer agency. Operating model solutions solve platform, data, and connectivity challenges across open-architecture operating models. We support clients’ growth, operational efficiency and resiliency, and streamline reporting and oversight.
References to specific types of securities and asset classes are for informative purposes only and are not intended to be and should not be interpreted as recommendations.
1 Semi-liquid funds: Deloitte Insights
2 BBH - 2025 Private Markets Investor Survey
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