2026PrivateMarketsOutlookA New ContinuumBlackRock
Welcome letterworkingtogetherisbestpositioned to meetthe needsof sponsors, limited partners and private companiesforscommitted to stayingat the forefrontofwe havebroughttogetherere's no denying that private assets are becoming aenergy.And in data and analytics, weThis is happening at atime when privateatingPregin and ur Aladin"platfor toelves are becoming:seamlesslytranslate private marketsinto the languageint:Investors have moreinformationmanagers, the assets they invest initearate public and privatemarketsole-portfolio views and riskeeking solutions from fewer partners whoeet theirfull set of needsfrom alpha generation tobeing connected acrossthe spectrumdiversification, and transparency to whole-portfoliooutcomesropeandU.S.models featuringWeareproud to be at theforefront of enhancingopportunities in private markets for clients of all sizescations, areopening up privateand around the world, just as we have done across assetclasses for more than 35 years.osnotiustfor,awaypachestowards50/30/20deringion ofprivatebution plans, initiativesfutureofretirement savingsal change to the investmentthe best possible solutions forourIPS,aleadingglobalprivatedPreqin,the foremost providerdata and insights, followingthef GIP, an industy-leading infrastructuremanager.whobecameapartofBlackRockin2024With HPS joining BlackRock, we have combined thefirm's private credit, leveragedfinance,CLO, privateequity co-investments, secondaries and deal-origination capabilies.WebelieveasingleteaRobertS.KapitoPresidentandaDirectorofBlackRock,UTIDNNTHEUSCANAOALATNAMERICA,AUSTRALIA.FORINSTITUTIONAL,PROFESSIONALANDQUALIFIEDINVESTORSANDCLIENTSINOTHERPERMITTEDCOUNTRIES
Key takeawaysIn 2026, private markets are transforminghowIn private equity, more investors are usingsocieties build infrastructure, howbusinesses,secondaries forliquidity and portfolionfinance arowth and how investors achievemanagement,andwe re seeingatractivediversification in theirportfolis.I opportunitis in both growth equity andEpisodes of high volatility areleadingprivatecredittotakeona largerpercentageofoverallTheglobalrealestatemarkethasundergonelending activity with expanding opportunitiesa reset, with residential.industrial andinasset-based financing and high-grade.ispecialized property types, such as datalMega forces, such as digitalization and Al, theMore wealth and retirementivestors aretransitinto alow-carbon economy,and participatinginprivate markets,takingdemographicchangeareincreasing the globaladvantageofnewfundstructuresforopportunitysetforprivate infrastructureaccessibility and liquidity, as well as newinvestment.technologiesforportfolitransparencyTable ofcontentsIntroductionPrivateeauity515PrivatecreditRealestate20InfrastructureAlternativeportfoliosolutions1223titute ourjudgment and are subject to changewithout notice
AuthorsAdebayoOgunlesiAdamRvanutiveOfficeroChiefInvestmentOfficer,Globallot'Multi-AlternativesBrentPatryMichael PattersonGlobalHeadFonPrivateMarkets,Co-PresidentandHeadofIDi-Head ofGP/LP SolutionsRaffaeleSaviGlobal HeaCont...
