The alternative investment industry is reaching an inflection point and has never been so attractive to investors and fund managers, according to a Northern Trust whitepaper. Northern Trust argued the alternative fund industry is going through a process of evolution and under various forms of pressure. As capital continues to flow in from a wider array of sources, it increases pressure on how managers realise returns and meet the demands of their investors. Projections indicate the alternative asset industry will grow from $10.7 trillion to some $17 trillion by 2025, despite a temporary slowdown caused by COVID-19. Private equity and private debt strategies are expected to lead the way, with the most growth from the APAC region.