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A Multi-Asset Approach to Private Markets

August 27, 2026

By Joan Solotar

One of the most important questions for investors today is not simply whether to include private markets in a portfolio, but what role each asset class should play once they do.

August 27, 2026

By Joan Solotar

Private equity, credit, real estate, and infrastructure each bring different characteristics, and the way they are combined can be just as important as the individual exposures themselves. Too often, investors think about these asset classes as separate choices, but each earns its place by doing something distinct for the overall portfolio. Private equity can help drive growth. Private credit can generate income. Real estate can provide income, some growth and potential protection against inflation. Infrastructure can offer steady income, some growth and potential resilience through essential assets and services that people and businesses rely on every day. We believe there is real value in combining these asset classes, not simply adding exposure but building a portfolio where every part has a purpose.

Broadening access was the first chapter. The next chapter is helping advisors translate that access into strong, diversified, more resilient portfolios, while simultaneously reducing the operational burden often associated with investing in private markets. This is where multi-asset solutions come in, providing streamlined access across private markets:

  • Multi-asset private markets: One-stop access to private equity, private credit, real estate, and infrastructure within a single allocation.
  • All-market solutions: Public and private investments combined to create a more complete portfolio.
  • Multi-asset credit: A broader approach to income generation that extends beyond traditional fixed income and public credit markets.
  • Multi-strategy hedge funds: Diversified exposure across multiple hedge fund strategies designed to access differentiated sources of return.
  • Retirement solutions: Structures that bring private markets into long-term savings and retirement vehicles.
Joan Solotar, Global Head of Private Wealth Solutions

"Private equity, credit, real estate, and infrastructure each bring different characteristics, and the way they are combined can be just as important as the individual exposures themselves."

Joan Solotar

The point is not to make the product shelf larger, it is to make the decision and ownership easier – to help advisors build portfolios that are more diversified, easier to own, and better aligned with their clients’ long-term goals.

We’re equally focused on equipping advisors with practical tools and education to compare options, understand tradeoffs, and make potentially complex client conversations clearer and more productive. The Blackstone Private Markets Allocator Tool enables advisors to construct custom portfolios, weigh public and private exposure, and examine historical performance and diversification.

We see this as a sign of real progress. The questions we hear from advisors have changed. They are less often asking whether private markets belong in portfolios, and more often asking how to use them well: how much, in what combination, and through what structure. We see this as a natural evolution and a sign that individuals are embracing what institutions have long understood: that private markets can serve as a core allocation.

Our role is not only to provide investment solutions, but to help advisors put those solutions to work. Advisors and their clients should understand what they own, why they own it, and how it fits with the rest of their portfolio. This is where high quality education, tools, and support matter.

We are grateful for your continued partnership and the trust you place in Blackstone. As private markets become a larger part of individuals’ portfolios, our goal is to help advisors bring the same discipline, clarity and institutional quality capabilities to their clients that have long guided the world’s largest investors.

Blackstone Private Markets Allocator Tool
Blackstone Private Markets Allocator Tool

Allocating to private markets can enhance performance and improve diversification. Use this tool to see how private markets may improve portfolio performance and help manage investment risk.

Learn More
Asset Allocation Tool Graphic

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