Data & Research July 10, 2025

Blackstone Advisers Wary of Public Market Volatility, Intrigued by Private Markets

A Blackstone Private Wealth survey of its financial advisers found they are concerned about public market volatility and are open to investing in private markets.

Reported by

Yasin Mohamud

Investment firm Blackstone’s private wealth group released its quarterly “Advisor Pulse,” finding that its clients’ most pressing concern is public market volatility.

The survey, which polled more than 160 financial advisers within Blackstone’s global network, gathered insight into adviser sentiment regarding navigation of current market conditions and the outlook on private markets.

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On the question of what their clients are paying the most attention to in today’s market environment, 66% of advisers mentioned public market volatility and 14% cited portfolio drawdown.

Interest in Private Markets

To address concerns about public market volatility, respondents said investing in private markets can serve as a “strategic core allocation for individual investors” because private markets offer diversification from public markets, while supporting long-term goals like capital appreciation or income generation. Of survey respondents, 78% said they believe private market investments are “very important” for a well-diversified portfolio, while 22% said it was “somewhat important.”

When asked how they are planning to adjust portfolios in the current market environment, 68% of respondents said they will raise allocations to private markets, 6% said they will raise allocations to public equities, and 4% said they anticipated raising allocations to cash; 18% said they plan on making other or no changes.

According to the data, when advisers brought up private market investing to their clients, nearly all had a positive response. Advisers also reported that 48% of clients said they were somewhat interested, 43% very interested, 6% ready to invest and just 3% said they had no interest at all.

Advisers also cited the low link between private real assets (real estate and infrastructure) to public markets, the higher income and lower-duration risk offered by private credit, and the revenue-driven return profile of private equity “as key benefits of private market investing.”