European investment markets are undergoing significant repricing and repositioning, creating compelling opportunities for high-net-worth individuals across real estate, private equity, infrastructure, and alternative assets. European real estate investment reached €241 billion in 2025—up 13% from 2024—with healthcare real estate achieving exceptional 285% growth representing the best year on record. European Central Bank monetary accommodation (eight consecutive rate cuts totaling 200 basis points) is making debt accretive to returns, supporting capital flows into repriced, income-generating assets particularly in Southern Europe (Italy up 36%, Spain up 30%).
The strategic landscape for HNW investors has fundamentally shifted: Europe is no longer competing on cheap residency programs but on stability, regulatory clarity, and tax certainty. Residency-linked investment programs have evolved from real estate speculation (Portugal eliminated this route entirely) toward productive investment in venture capital, research, cultural preservation, and business creation—reflecting EU policy direction emphasizing contribution over financial engineering. Simultaneously, private markets are expanding—ELTIF 2.0 now enables retail access to private equity, private credit, and infrastructure; alternative ETF assets grew 80% (2023-2024); and renewable energy presents compelling long-term returns aligned with €trillions in European infrastructure investment requirements.
For HNW investors, the opportunity set is characterized by three themes: (1) geographic rotation—Eastern Europe wealth growing 12%+ while Western Europe contracted; (2) sectoral bifurcation—healthcare infrastructure exploding while traditional office faces persistent headwinds; (3) product innovation—ELTIF 2.0, tokenization, and hybrid structures democratizing access to previously institutional-only investments. The constraint is not opportunity availability but disciplined capital allocation amid geopolitical uncertainty and regulatory complexity.
Part I: European Real Estate—Sector Selection and Geographic Rotation
European real estate investment recovered decisively in 2025, with €241 billion deployed across sectors—yet performance divergence is stark, creating precise targeting requirements for investor capital.
Healthcare Real Estate: The Breakout Sector
Healthcare real estate achieved unprecedented breakthrough in 2025, with investment volumes reaching €22.8 billion—a remarkable 285% increase from 2024. This represents the best-ever year for the sector, driven by demographic inevitability, operational stability, and investor conviction around recession-resistant returns.
Demographic Foundation: Europe’s aging population creates structural demand for healthcare assets spanning purpose-built hospitals, diagnostic centers, nursing facilities, and senior living environments. Unlike discretionary real estate (retail, hospitality) vulnerable to economic cycles, healthcare demand is countercyclical—aging populations and healthcare requirements expand during recessions, supporting stable occupancy and rental growth.
Operational Characteristics: Healthcare operators achieve consistent performance metrics—93% of investors plan to increase healthcare allocations, reflecting satisfaction with: (1) stable occupancy rates (typically 85-95%); (2) inflation-linked rent growth; (3) government budget support (healthcare spending increases regardless of economy); (4) long-term leases (10+ year terms standard).
Geographic Concentration: UK accounts for 65% of European healthcare investment, driven by private sector development (not primarily NHS-related) and institutional investor confidence in UK regulatory/currency stability. However, Northern European markets (Nordics) represent emerging opportunity where healthcare real estate supply lags aging demand.
Investor Appeal: For HNW investors, healthcare real estate offers: (1) yield (typically 4-6% net); (2) capital stability (recession-resistant); (3) ESG alignment (healthcare contributes to societal wellbeing); (4) regulatory tailwind (governments incentivize private healthcare investment to reduce public system burden).
Deployment Strategy: Both direct real estate investment (acquiring operating facilities) and fund-based access (through European healthcare REITs and specialist funds) provide liquidity and scale without requiring operational expertise.
Living/Residential: Scale but Selective Quality
Living/residential real estate commanded the largest investment volume (€53 billion, up 9% from 2024), yet performance divergence between segments is pronounced.
Purpose-Built Student Accommodation (PBSA): European PBSA is the standout residential subsector, offering scalability, lighter regulation than traditional multifamily, and income durability. The structural drivers are clear: university enrollment continues despite economic cycles; PBSA providers operate as hospitality-adjacent businesses (not housing speculation); rents are inflation-linked; and supply constraints exist in most major universities.
Senior Living: Similar to PBSA, senior living benefits from demographic tailwinds (populations aging) and operational characteristics (12-month leases, services-bundled, premium pricing). The subsector combines recurring revenue (accommodation + services) with stable occupancy (65-80%+).
Single-Family Rental (SFR): UK SFR is identified as a conviction strategy by institutional investors—offering individual property ownership through platforms, moderate leverage, and tax efficiency. The appeal is modest-but-consistent returns (3-5% yield) with capital appreciation from undersupply and structurally higher long-term rental demand.
Traditional Multifamily Caution: Regulated multifamily rents in Western Europe remain muted, limiting capital appreciation. However, well-located, modern stock in supply-constrained markets (Nordic capitals, Amsterdam, Paris prime) continues to command premium valuations and consistent rental growth.
Office: Repricing Complete, Selective Repositioning
Office real estate reached €47 billion in investment (up 9% from 2024), representing tentative recovery after pandemic disruption. However, the sector remains bifurcated:
Prime London/Paris Offices: Repositioned, high-quality office stock in central London and Paris commands strong demand from financial services, tech companies, and professional services seeking premium space. These assets achieve: (1) rent growth exceeding inflation; (2) occupancy >90%; (3) lease renewal success rates >80%; (4) premium rents justifying capital investment.
Secondary/Outdated Stock: Office buildings lacking flexibility (open-plan, poor environmental controls, limited networking space) face persistent headwinds. Remote work permanence means even 5-10% of workforce eliminating office presence reduces footprint requirements 15-20%, disproportionately impacting secondary stock.
Strategic Repositioning: Some investors pursue repositioning plays—converting B/C-grade offices to mixed-use (residential, hospitality, coworking), though conversion costs remain elevated and execution risk is significant.
Hotels: Cyclical Recovery Potential
Hotel real estate investment reached €23 billion (up 13% from 2024), reflecting post-pandemic normalization and tourism recovery. The appeal is concentrated in select geographies:
Southern European Hotels: Mediterranean and Iberian Peninsula hotels in prime tourism destinations (coastal properties, historic city centers) have recovered strongly with rents exceeding pre-pandemic levels. Urban supply constraints and sustained tourism demand support capital appreciation and rental growth.
Urban Hotels Selectivity: Five-star and four-star urban hotels in major capitals benefit from business travel recovery and international tourism; three-star and below face competition from short-term rental platforms (Airbnb) and limited pricing power.
Retail: Selective Recovery in Southern Europe
Retail real estate achieved 11% growth (€38 billion), concentrated in shopping centers with stable NOI (net operating income) growth. The repricing is complete, with market consensus established:
Southern European Shopping Centers: Spain and Portugal shopping centers are recovering with improved financing conditions, renewed leasing activity, and reduced competition (store closures during pandemic permanently eliminated marginal retailers). Rebased rents and quality leases support capital appreciation.
Prime Locations: High-street retail in premium city locations (London West End, Paris Champs-Élysées) remains resilient, with luxury brands supporting premium rents; secondary locations face ongoing pressure.
Part II: Residency-Linked Real Estate Investment—Strategic Positioning
European residency programs linked to real estate/investment have undergone significant evolution, moving from speculative real estate plays toward productive, compliance-friendly structures. HNW investors evaluating relocation must understand the strategic positioning of each major program.
Italy: Tax Certainty Premium Model
Italy emerges as the preferred destination for HNWIs prioritizing predictability and rule stability over cost minimization. The country offers a “lump sum” tax regime for new residents—a fixed, legislated tax rate on worldwide income that provides transparency and eliminates tax volatility.
Program Structure: New Italian residents with significant foreign-source income can elect the lump-sum regime, typically offering:
- Fixed tax rate on income (rates vary by residency duration and income type)
- Certainty and no surprise tax audits
- Negotiable rate based on specific circumstances
- Pathway to Italian residency and EU citizenship
Economic Context: Italy recorded €13.5 billion in real estate investment in 2025 (36% increase from 2024)—the best year on record—driven by retail and hotel sectors. This market recovery reflects ECB rate cuts making debt accretive and investors repositioning toward repriced assets.
Best-Suited Investors: HNWIs with: (1) substantial foreign-source income (dividends, royalties, international business); (2) families prioritizing education, healthcare, lifestyle over pure cost optimization; (3) founders/executives seeking stable EU operating base without constant regulatory changes; (4) 15+ year settlement horizons.
Strategic Advantage: In an era of increasing wealth tax discussion and regulatory change, Italy’s legislated tax certainty eliminates major planning risk. For investors managing multi-jurisdictional wealth, knowing Italian tax treatment is fixed provides planning security worth paying premium for.
Greece: Real Estate Asset Strategy
Greece continues offering Golden Visa programs with tiered property investment thresholds, now reformed to address housing pressure in saturated areas:
Investment Tiers (by location):
- €800,000: Top-demand zones (Attica, Thessaloniki, Mykonos, Santorini, major islands)
- €400,000: Other areas (often with minimum property size conditions)
- €250,000: Special categories (commercial-to-residential conversions, certified restoration projects)
Program Evolution: Recent reforms increased thresholds in highest-demand areas while introducing new administrative procedures to: (1) reduce housing market pressure on locals; (2) improve investor experience; (3) reduce delays in processing. This reflects EU policy direction toward sustainable impact rather than pure financial engineering.
Property Market Context: Greece’s real estate market benefits from: (1) Mediterranean tourism demand supporting rental income; (2) EU recovery funds supporting infrastructure; (3) repriced valuations attracting foreign capital; (4) legal stability and EU protections.
Best-Suited Investors: HNWIs seeking: (1) tangible property assets as portfolio core; (2) Mediterranean lifestyle and beach/island property ownership; (3) EU mobility rights; (4) diversification away from home country real estate; (5) optional residency (not requiring full relocation).
Strategic Advantage: Unlike financial investment programs, real estate ownership provides: (1) tangible collateral; (2) income-generating asset (rental); (3) lifestyle benefit; (4) protection against currency depreciation (property value denominated in euros); (5) potential appreciation from tourism demand.
Portugal: Pivot to Productive Investment
Portugal represents the most significant program evolution, having eliminated real estate as primary investment route and repositioned toward “real economy” impact:
New Qualifying Routes (Post-2023 Reform):
- Venture Capital/Investment Funds (€500,000): Investment in eligible Portuguese venture capital or investment funds focused on Portuguese companies, with minimum maturity periods. This route explicitly shifts investment from speculation toward entrepreneurship and business growth.
- Cultural/Artistic Support (€250,000): Direct investment in heritage preservation, artistic organizations, or cultural programs. This creates immigration incentive for cultural investors and strengthens creative economy.
- Scientific Research (€500,000): Funding research institutions and innovation centers. Aligns immigration with knowledge economy development.
- Business and Job Creation (€500,000+): Direct capital transfer to establish or expand Portuguese company with employment requirements. Explicitly generates economic activity and job creation.
Strategic Rationale: This program shift reflects EU policy direction: immigration programs should incentivize contribution to host economy rather than pure financial extraction. For investors, it requires genuine business involvement rather than passive real estate ownership.
Tax Benefits: Portugal offers special tax regimes for qualifying investment income, making productive investment particularly tax-efficient compared to real estate speculation.
Best-Suited Investors: HNWIs seeking: (1) active involvement in Portuguese business/entrepreneurship; (2) VC/growth capital deployment with aligned governance; (3) cultural/creative legacy alignment; (4) research advancement in personal interests; (5) 5-10+ year settlement horizons with genuine economic engagement.
Competitive Advantage for Portugal: This program positioning attracts high-quality, value-additive immigrants (entrepreneurs, investors, researchers) rather than speculative real estate buyers. EU policy direction increasingly favors this approach.
Part III: Private Equity and Venture Capital—Selective Deal Opportunities
European private equity markets are entering a recovery phase in 2025, with deal volume expectations improving decisively. However, capital allocation remains highly disciplined and sector-selective.
Deal Volume and Sector Selection
Upbeat Outlook: Over 90% of PE professionals expect increased deal activity in 2025, with most significant improvements anticipated in Nordic countries and Iberian Peninsula (Spain, Portugal). France shows more subdued outlook but still positive.
Sector Preferences:
- Healthcare & Pharmaceuticals: Strong outlook driven by demographic tailwinds and operational stability
- Technology, Software & Digital Solutions: Robust pipeline reflecting ongoing digitalization and AI adoption
- Infrastructure: Very strong, particularly renewable energy, grid modernization, and battery storage
- Automotive: Challenged outlook due to capex cycle pressures and industry transition complexity
Deal Size Focus: Small-cap and mid-cap acquisition represent preferred vehicle, offering better valuation opportunities, operational improvement potential, and exit flexibility compared to large-cap purchases.
Value Creation Drivers (2025):
- Digitalization and Data Analytics – Primary operational focus
- Add-On Acquisitions – Consolidation and cross-selling synergies
- Commercial Excellence – Revenue growth and margin expansion
- ESG: Paradoxically dropped from top-3 priority (was significant in 2024) to bottom-priority ranking—likely reflecting investor realization that financial returns drive value more than ESG metrics.
Regional Opportunities
Western Europe: PE strategy emphasizing divesting existing assets (longer holding periods driving exits) rather than aggressive new fundraising. Focus on stabilized income and downside protection reflects mature market positioning.
Central/Eastern Europe: Stronger emphasis on new fundraising and investment (earlier fund vintages creating deployment opportunity). Adria and Central Europe most optimistic; Poland and Romania more balanced but showing stable activity.
Spain and Portugal Opportunity: New generation of entrepreneurs more willing to partner with PE funds for scaling and international expansion. Companies require scale to remain competitive; PE provides capital, expertise, and exit pathways.
Nordic Pipeline: Strong infrastructure investment pipeline, particularly renewable energy and waste valorization. “Infra-like” assets gaining traction for stability and cash-flow visibility.
Secondary Buyouts and Repricing
Secondary buyouts—PE funds acquiring portfolios from other PE funds—are identified as “probably best address for attractive acquisition candidates.” This reflects: (1) extended holding periods by first-generation PE investors; (2) repriced valuations making exits attractive; (3) operational improvements reducing acquisition risk; (4) follow-on value creation opportunity.
Part IV: Alternative Investments—Luxury Collectibles, Art, and Infrastructure
Luxury Collectibles: Long-Term Wealth Retention
The Korloff Luxury Investment Index (KFLII) tracks ten luxury collectible categories and reveals differentiated performance:
Long-Term Track Record: $1 million invested across KFLII basket in 2005 would be worth $5.4 million in 2025 = 440% total return over 20 years. Despite recent contraction (2024-2025 down), five-year returns are +21.4% and ten-year returns are +72.6%.
2024 Performance by Category:
- Handbags: +2.8% – Best performer, driven by luxury brand demand and limited supply
- Jewelry: +2.3% – 5-year: +20.2%, 10-year: +33.5%. Strong performer with historical provenance premium
- Coins: Growth reported – Specific metrics not disclosed
- Watches: Growth reported – Value retention with allocated brands; secondary market premiums
- Cars: +1.2% – Limited growth; specialty vehicles (Porsche, Ferrari, classic Mercedes) most resilient
- Art: -18.3% – Worst performer (sales down from $7.8B in 2022 to $4.1B in 2024)
Investment Characteristics:
- Modest growth relative to 5.8% global inflation (most collectors accept subinflationary returns for asset class diversification)
- Low correlation with equities and bonds
- Primary motivation: Collection passion, not pure financial return
- Success requirement: Patient capital (10+ year holding periods), quality selection, relationship with reputable dealers
Art: Depressed but Potentially Attractive for Long-Term Investors
Art real estate investment, despite 285% growth, art collectibles experienced 18.3% decline in 2024 as global art sales contracted 48% (peak $7.8B in 2022 to $4.1B in 2024). However, this market depression may create opportunity for patient collectors.
Historical Returns: Fine art by established masters (Monet, Warhol, Banksy) delivers 8-12% annual returns with lower volatility than equities and low correlation to other asset classes.
2024-2025 Market Dynamics: Auction success rates fell to 70% (achieving estimate) from 87% in 2021, suggesting depressed valuations. Yet HNW collector allocations to art increased from 15% (2024) to 20% (2025)—indicating collector confidence in long-term value despite short-term weakness.
Collector Base Evolution: Art buyers increasingly motivated by narrative, context, and conscience rather than pure financial gain. Digital platforms (Artsy, online marketplaces) now account for >50% of art purchases, providing transparency and accessibility.
Strategic Approach:
- Established Masters: Blue-chip artists with museum representation and auction history provide stability; limited new supply supports long-term appreciation
- Emerging Markets: Latin American and global artists gaining collector attention; emerging artists like Leonora Carrington (record $24.5M in 2024) demonstrate upside potential
- Digital Marketplaces: Online art platforms offering searchable price histories, educational tools, and reduced geographic constraints
- Geographic Focus: Madrid emerging as European artistic hub with growing gallery concentration and international fair presence
For HNW Investors: Art’s 8-12% historical returns, low correlation to equities, and psychological/cultural benefits justify 5-15% portfolio allocation as alternative investment despite current market weakness.
Infrastructure and Renewable Energy: Structural Long-Term Opportunity
Renewable energy and energy infrastructure present compelling long-term opportunity aligned with €trillions in required European investment.
Structural Drivers:
- EU Net-Zero Commitment: 2050 emissions target requires complete energy system transformation
- Capital Requirements: €Trillions required by 2030 for network upgrades, renewable capacity, battery storage
- Economic Case: Solar and onshore wind generation costs 40-60% below natural gas (no fossil fuel volatility)
- Capacity Growth: EU renewable capacity to nearly triple by 2030, quadruple by 2040 (from 2021 baseline)
- Grid Share: 2024 renewables at 28.8% of EU electricity; targets: 71% (2030), 75% (2040)
Investment Returns:
- Annual cash returns: Typically 4-6% (inflation-linked)
- Capital appreciation: From grid modernization and capacity expansion
- GDP boost: Infrastructure investment adding 2-2.3% to EU GDP by 2050 (modeling by EU)
- Manufacturing advantage: Renewable infrastructure build creating EU manufacturing demand and Eastern-Western Europe convergence opportunity
Key Challenge: Grid Bottlenecks
Renewable buildout has outpaced grid investment capacity, creating negative pricing scenarios (when supply exceeds demand on sunny days, wholesale prices fall below zero, discouraging investment). Solution involves:
- Battery Storage: Costs down 40% over 2 years; enables load shifting (charge when sunny, discharge when valuable)
- Grid Modernization: Cross-border transmission expansion, voltage management, real-time optimization
- Demand Management: Electric vehicle charging, heat pumps, and demand-response programs shifting consumption patterns
Investment Vehicles:
- Direct Infrastructure Funds: Renewable energy specialists (Downing ~£970M AUM, 852 GWh annual generation)
- Listed ETFs and Funds: Diversified exposure through infrastructure indices
- Private Market Access: ELTIF 2.0 now enabling retail HNW access to infrastructure funds previously institutional-only
Part V: Wealth Management Innovation and Product Access
ELTIF 2.0: Democratizing Alternative Asset Access
European Long-Term Investment Fund (ELTIF) 2.0 framework expansion represents fundamental shift in investment product access.
Retail Democratization: 78% of ELTIF 2.0 fund launches (40 of 51) now target retail clients, compared to just 56% previously (18 of 32). This expansion enables HNW individuals direct access to:
- Private equity
- Private credit
- Infrastructure
- Real estate funds
- Venture capital
Operational Advantages:
- Diversification benefit (fund-level exposure rather than single-asset concentration)
- Reduced capital requirements (€250K minimum vs. €5M+ for traditional PE funds)
- Liquidity mechanisms (interval structures allowing periodic redemptions)
- Professional management (removes operational burden from investors)
Fund Domiciliation Strategy:
- Luxembourg: Remains dominant (traditional center, deep expertise)
- Ireland: Emerging alternative (24-hour fund registration vs. 6-month in Luxembourg)
- Strategic advantage: Domiciliation choice impacts operational flexibility for new product launches
Active ETFs and Hybrid Products
Active exchange-traded funds experienced explosive growth, with share of active UCITS ETF net flows rising from 2.1% (2020) to 6.1% (2024), and AUM growing 80% from €27.2B (2023) to €49B (2024).
Strategic Appeal: Combines benefits of:
- Active management (professional stock/bond selection, tactical allocation)
- ETF structure (daily liquidity, transparency, low fees vs. mutual funds)
- Cost efficiency (lower expense ratios than active mutual funds)
- Diversification (hybrid structures combining equities, bonds, alternatives)
Hybrid Products: Increasingly combining traditional and alternative assets (equities + private credit + infrastructure) in single fund vehicles, enabling simplified portfolio construction.
Tokenization: The Frontier
Digital asset tokenization enabling fractional ownership and enhanced liquidity is emerging as transformational technology for private markets.
Strategic Benefits:
- Fractional Ownership: Tokens enabling €10K-€100K participation in previously €1M minimum investments
- Enhanced Liquidity: Secondary markets for tokenized assets improving exit flexibility
- Operational Efficiency: Blockchain settlement reducing friction and costs
- New Investor Access: Enabling broader participation in previously exclusive opportunities
Regulatory Status: Emerging clarity on digital assets and stablecoins creating European regulatory framework supporting tokenized investment vehicles.
Part VI: Tax Planning and Cross-Border Wealth Structuring
High-Net-Worth Tax Regime Landscape
Europe’s tax environment for HNW individuals is evolving, with jurisdictions increasingly offering structured certainty rather than pure rate minimization.
Key Regimes by Jurisdiction:
| Jurisdiction | Strategy | Effective Rate | Best for |
|---|---|---|---|
| Italy | Lump-sum tax | Fixed (negotiable) | Foreign-source income, certainty seekers |
| Portugal | Non-resident status | Lower rates on certain income | Investment returns, dividends |
| Spain | Special regimes | 15-24% for certain income | Foreign executives, entrepreneurs |
| Switzerland | Cantonal negotiation | 15-30% range | Ultra-HNW, discretion, stability |
| UK | Non-dom status | Remittance basis available | UK-based HNWIs with foreign sources |
| France | Wealth-focused | Progressive rates | Limited special regimes |
Modern Tax Approach (Policy Consensus):
- Broad tax bases without carveouts (eliminated preferential treatment)
- High thresholds targeting extreme wealth (avoiding middle-class impact)
- Minimum-tax top-up mechanisms (preventing aggressive avoidance)
- Credible anti-exit rules (preventing “tax shopping”)
- Transparency tools leveraging FATCA/CRS and beneficial ownership registries
Cross-Border Wealth Management Imperative
HNW individual mobility for lifestyle, business, or tax reasons makes seamless cross-border wealth management operational necessity.
Critical Success Factors:
- Custody Infrastructure: Accounts spanning multiple jurisdictions (UK, EU, US custody)
- Tax Treatment Clarity: Pre-planning tax consequences of residency changes
- Regulatory Permissions: Licensing and compliance across jurisdictions (asset management, insurance, FX)
- Portfolio Suitability: Reassessment of asset allocation when jurisdiction changes (currency, regulatory restrictions)
- Currency Management: Hedging strategies protecting against exchange volatility
Operational Risk: Firms unable to support clients across borders seamlessly risk losing relationships and assets. Conversely, advisers building cross-border capabilities capture growing migration trend.
Part VII: Geographic Rotation and Emerging Opportunity
Eastern European Growth Inflection
Wealth growth data reveal significant geographic rotation: Eastern European wealth grew 12%+ in 2023 while Western European wealth contracted, signaling structural opportunity shift.
Drivers:
- Catch-up growth (Eastern Europe has lower baseline wealth, faster growth trajectories)
- Technology entrepreneur emergence (Czech Republic, Poland, Romania generating IP and exits)
- Infrastructure modernization (EU fund allocation supporting development)
- Cost advantage (real estate, labor, operating costs 40-60% lower than Western Europe)
Strategic Implication: For HNW investors, Eastern European exposure through: (1) direct real estate; (2) PE fund allocation to CEE; (3) tech startup investment in emerging hubs (Warsaw, Prague, Budapest); (4) infrastructure projects provides growth exposure below Western European valuations.
Conclusion: Strategic Framework for European Investment Allocation
For HNW individuals evaluating European investment allocation in 2026, the strategic framework centers on:
1. Real Estate Sector Selection
Allocate toward healthcare infrastructure (285% growth, best-year-ever), senior living (demographic tailwind), purpose-built student accommodation (operational stability), and repriced prime offices in central London/Paris. Avoid secondary office and discretionary retail except in supply-constrained Southern European markets.
2. Geographic Rotation
Overweight Southern Europe (Italy 36% growth, Spain 30% growth) while maintaining Eastern European exposure for growth upside. UK positions for healthcare exposure and institutional depth; Nordic focus for renewable energy and infrastructure.
3. Residency-Linked Investment
Italy for tax certainty, Greece for tangible assets, Portugal for productive investment alignment. Recognize program evolution away from speculation toward compliance-friendly structures.
4. Private Markets Access
Leverage ELTIF 2.0 expansion to access PE, private credit, and infrastructure funds previously institutional-only. Focus on healthcare, tech, and renewable energy sectors with structural tailwinds.
5. Alternative Investments
Handbags, jewelry, and watches offer long-term wealth retention (5-10% allocation). Art is currently depressed but offers 8-12% historical returns for patient 10+ year investors. Renewable energy and infrastructure present compelling structural returns (4-6% cash yield, capital appreciation) aligned with €trillions in required investment.
6. Wealth Management Infrastructure
Partner with advisers capable of seamless cross-border implementation spanning UK, EU, US custody; tax-efficient structuring; and currency management. Intergenerational wealth transfer planning becomes increasingly important as public pension pressure widens private savings gaps.
The European investment environment in 2026 is not “bargain basement” but “carefully priced with clear value drivers.” Capital discipline, geographic selectivity, and sector focus are prerequisites for outperformance.