Investors today see a market full of opportunity, but one that also comes with significant volatility. The public stocks and bonds that anchor most portfolios are still delivering results, but now require more tolerance for uncertainty than in the past. [ 1 ] Big swings in sentiment have many investors searching for additional sources of returns that can help steady their portfolios across market cycles. [ 2 ] Private markets continue to stand out as a potential solution.
Over the past year, private equity, credit, real estate, and infrastructure demonstrated how performance rooted in fundamentals can help weather volatility. [ 3 ] While public markets ultimately performed well in 2025, [ 4 ] the journey was anything but smooth, marked by dramatic shifts amidst geopolitical uncertainty. By contrast, we believe private markets benefitted from long-duration capital, active ownership, and an emphasis on cash flows and asset quality – attributes that we believe can help smooth results in a range of market environments.
Many financial advisors are anticipating their clients’ needs by proactively building more resilient portfolios that include private markets. In one recent survey, 83% of wealth manager respondents said that offering a strong line-up of private asset solutions has become essential. [ 2 ] This is consistent with the notion that advisors who thoughtfully incorporate private investment are often better positioned to differentiate their practices and deepen longer-lasting client relationships.
Navigating Volatility with Private Markets
February 9, 2026
Over the past year, private equity, credit, real estate, and infrastructure demonstrated how performance rooted in fundamentals can help weather volatility.
February 9, 2026
At Blackstone, we see how the advantages of private markets play out every day. Our scale gives us real-time, proprietary insights across a vast global portfolio. This pattern recognition helps our investment teams identify opportunities early, deploy capital with conviction, and remain patient when markets are uncertain. This kind of staying power matters. Our approach provides investors with an alternative to forced selling, giving long-term value creation strategies the time necessary to succeed.
From this vantage point, the opportunity across private markets today remains compelling:
Private equity is benefiting from renewed deal activity, increasing opportunities for realizations [ 5 ] and widening the valuation gap between public and private markets. [ 6 ]
Private credit continues to offer attractive yields, supported by senior positioning in capital structures, conservative deal terms, and strong borrower fundamentals. The opportunity set is expanding [ 7 ] across asset‑backed, infrastructure, and real‑economy lending.
Private real estate is entering the next phase of its recovery, creating what we believe to be a compelling entry point with lower financing costs, constrained new supply, and steady demand across logistics, data centers, and rental housing. [ 8 ]
Private infrastructure can offer a multi‑decade investment runway, driven by technological advancement and anchored by long‑lived assets, contracted cash flows, and diversification [ 9 ] benefits across market cycles.
As markets evolve and new opportunities emerge, our commitment to you remains unwavering. We aim to equip financial advisors with institutional-quality investment solutions, practical education, and exceptional service. By helping you lead with clarity and conviction, we believe private markets can play a central role in helping you meet your clients’ evolving goals.
We are grateful for your partnership and for the trust you place in Blackstone. As always, we remain focused on helping you and your clients build wealth through cycles, across markets, and for the long term.
Joan Solotar
Global Head, Blackstone Private Wealth
Important Disclosure Information
Past performance does not predict future returns. There can be no assurance that any Blackstone fund or investment will achieve its objectives or avoid substantial losses. Any investment involves a high degree of risk and you may not get back the amount originally invested. There is no guarantee the trends depicted herein will continue or will not reverse. Diversification does not ensure a profit or protect against losses. Investing involves risk, including loss of capital.