The State of ELTIFs 2026

European Long-Term Investment Funds have surged following ELTIF 2.0 reforms, which lowered barriers and broadened distribution. Since 2024, more than 190 new ELTIFs have launched, bringing private market strategies closer to a wider investor base, often via semiliquid, evergreen structures.

Rapid growth in ELTIFs comes with tradeoffs. Many funds blend liquid and illiquid assets, use leverage to reach return targets, and charge fees that can erode the illiquidity premium. Drawing on manager interviews, proprietary data, and Morningstar analysis, The State of ELTIFs 2026 report shows how ELTIFs work in practice and where risks are often underestimated. 

Download the report to uncover what really matters, and what ELTIFs can realistically deliver for investors in 2026.