Advisors Double Down on Private Markets: Blackstone

Advisors are leaning further into private markets as a core part of their client value proposition, with a new quarterly Advisor Pulse – Spring 2026 survey by Blackstone’s Private Wealth group highlighting how track record, diversification and access shape allocation decisions. In private credit, 36% of advisors cite track record as the most important factor when selecting a manager, followed by credit underwriting expertise at 33%, far ahead of firm size, scale, or default and recovery statistics.

In private real estate, 50% of surveyed advisors say the primary role is “diversification from public markets,” while 34% point to income generation, reflecting demand for lower‑volatility, yield-oriented exposures that complement traditional 60/40 portfolios. Tax efficiency (7%), inflation hedge (5%), and capital appreciation (5%) rounding out the rest.

Advisors remain resolute on private equity: 90% report increasing or maintaining current allocations, despite an evolving macro backdrop, underscoring their view that private equity can offer “differentiated return potential and long-term growth” that is less tied to near-term public market swings.

Access itself is becoming central to advisor positioning, with 77% of respondents saying they include access to private market investments as part of their value proposition when meeting prospective clients, with only 1% saying they do not. That tilt suggests private markets are no longer a niche sleeve, but a defining feature of modern advisory practices.

This quarter’s survey included over 200 financial advisors within Blackstone’s U.S. network to gain insight into how advisors are navigating current market conditions and their outlook on private markets.