Tameo releases 2025 Private Asset Impact Fund Report covering a USD 105 billion impact investing market

Tameo today announced the release of the 2025 edition of its flagship Private Asset Impact Fund (PAIF) Report, providing one of the most comprehensive overviews available of private asset impact investing strategies focused on emerging and frontier markets. 

Now in its sixth annual edition, the report analyzes a market estimated at USD 105.2 billion in assets under management (AUM), encompassing 808 active impact funds and 488 investment managers globally. The publication also includes detailed survey-based analysis from a core sample of 210 funds and 104 investment managers that contributed primary data to the study throughout 2025. 

The PAIF Report focuses on private asset investment strategies deploying debt and equity capital toward development and impact objectives across EMDEs. It provides market-level analysis on fundraising trends, blended finance structures, regional allocations, financial performance, portfolio composition, impact outcomes, and long-term industry developments. 

“This year’s edition continues to reflect how diverse the impact funds sector is, while pointing to lower levels of market activity in the last two years,” said Anne Estoppey, Data & Market Intelligence Manager at Tameo. “Despite a more complex fundraising environment and growing pressure on development finance flows globally, investment managers continue to play a critical role in channeling impactful capital toward underserved markets and sectors.” 

The report highlights several key market developments: 

• The PAIF market is now estimated at USD 105.2 billion across 808 funds and 488 investment managers. 

• Equity strategies (both PE and VC) account for 54% of total AUM, while climate & energy and “multi-SDG” funds represent the largest thematic allocations. 

• Approximately one-quarter of all PAIFs use blended finance structures, representing USD 26.7 billion in assets. 

• Fund creation slowed significantly in 2024 and 2025 following several years of strong expansion. 

• Sub-Saharan Africa remains the largest regional focus for single-region impact fund strategies. 

• Credit risk indicators improved in 2024 across surveyed funds, while gross portfolio yields continued to increase since 2023. 

The report also examines broader market dynamics shaping the sector, including evolving development finance priorities, fundraising headwinds, investor accountability requirements, fee structures and performance, and the growing importance of transparency and measurable impact reporting. 

“We continue to view the PAIF Report as a public good for the impact investing industry,” added Anne Estoppey. “Our objective remains to improve market transparency, strengthen benchmarking practices, and support more informed decision-making across the ecosystem.” 

The 2025 PAIF Report was produced with the support of the Swiss Agency for Development and Cooperation (SDC) as lead partner, alongside several co-sponsors active across the impact investing ecosystem. 

Tameo will continue sharing additional findings and analysis from the report through its communication channels in the coming weeks.