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Advisor Pulse – Spring 2026

The latest views from financial advisors surveyed globally. [ 1 ]

In private credit, track record matters

A strong track record stands out as a differentiator when advisors select a private credit manager, signaling they place a premium on experience and proven performance across market cycles. Credit underwriting expertise follows closely, reinforcing the value placed on disciplined deal selection and risk management.

What is the most important factor when selecting a private credit manager?

Private real estate can help diversify beyond public markets

Surveyed advisors cite diversification [ 2 ] away from public markets as the primary role of private real estate in client portfolios. This fits the renewed focus on “HALO” investments – that is, hard assets with low obsolescence – and the search for lower-correlation investments. [ 3 ] With real estate in a cyclical recovery, many advisors see an opportunity to add exposure at attractive relative value. [ 4 ]

What is the primary role of private real estate in your clients’ portfolios?

Clients are holding—and adding to—private equity

Despite an evolving macro environment, nearly all surveyed advisors indicate they are increasing or maintaining private equity allocations. This resilience suggests continued interest in diversifying portfolios [ 2 ] with private assets that can offer differentiated return potential and long-term growth that may be less tied to short-term public market volatility.

How does the macro environment change your assessment of private equity as a client allocation?

Private markets can be core to advisors’ value proposition

Private markets can help advisors highlight how their practice stands out and adds value, which is why the majority of surveyed advisors said they include these investments when delivering their value proposition to prospective clients. With private markets becoming a core component of modern portfolios, providing access is increasingly key for advisors looking to stay ahead.

Do you include access to private market investments as part of your value proposition when meeting with prospective clients?

Education Resources

Essentials of Private Markets

Practice Management Resources

Based on surveys of financial professionals across the U.S., EMEA, and APAC participating in Blackstone programming over the period February 2026 – March 2026. Average number of respondents per question: 204. Any views or opinions expressed herein reflect solely the views of the advisors who were surveyed in connection with this survey and/or Blackstone, and such views or opinions are subject to change without notice and may differ from opinions expressed by others. Blackstone has not independently verified the information received from the advisors surveyed and no representation is made as to the accuracy of such information. Any projections, expectations or other forward-looking statements set forth herein are based on assumptions that are uncertain and are subject to many factors, changing market conditions and general economic conditions, and may vary materially from the themes set forth herein. Nothing herein constitutes investment advice or recommendations and this page should not be relied upon as a basis for making an investment decision.
Diversification does not ensure a profit or protect against losses. Risk management seeks to mitigate risk, but does not reduce or eliminate risk and does not protect against losses.
Private real estate’s returns are largely uncorrelated to that of equities, investment grade bonds, and public REITs. Source: Morningstar, as of September 30, 2025. Private real estate is represented by the NFI-ODCE. Public REITs are represented by the total return of the MSCI U.S. REIT Index. Equities are represented by the total return of the S&P 500 Index, including dividends. Investment grade bonds are represented by the total return of the Bloomberg U.S. Aggregate Bond Index.
Green Street Advisors, as of February 28, 2026. Reflects the Commercial Property Price Index for All Property, which captures the prices at which U.S. commercial real estate transactions are currently being negotiated and contracted. 7% reflects increase from November 30, 2023 trough.