1、Private Markets Outlook2026A New ContinuumFOR INSTITUTIONAL,PROFESSIONAL,ACCREDITED,WHOLESALE,QUALIFIED INVESTORS AND QUALIFIED,PERMITTED CLIENTS ONLYMKTGM1125U/M-4999807-1/27FOR INSTITUTIONAL,PROFESSIONAL,ACCREDITED,WHOLESALE,QUALIFIED INVESTORS AND QUALIFIED,PERMITTED CLIENTS ONLY2Private markets

2、are evolving to meetthe challenges of a new investing era.BlackRockis committed to staying at the forefront ofthat evolution.Theres no denying that private assets are becoming a key component of a whole-portfolio strategy for more clients.This is happening at a time when private markets themselves a

3、re becoming:More transparent:Investors have more informationon private fund managers,the assets they invest inand their performance.More holistic:Whole-portfolio views and risk management are being connected across the spectrum of public and private holdings.More accessible:Evergreen structures and

4、wrappers,such as ELTIFs in Europe and U.S.models featuring private market allocations,are opening up private market asset classes for more investors.These advances are reshaping portfolios not just for leading institutions but also for wealth investors,away from traditional 60/40 approaches towards

5、50/30/20 allocations,with private assets making up the 20%.Countries like the U.S.and the UK are considering legislative changes to increase the adoption of private assets within defined contribution plans,initiativesthat could transform the future of retirement savings.To meet this fundamental chan

6、ge to the investment universe and provide the best possible solutions for our clients,BlackRock is rapidly expanding our platform for private markets.In 2025,we welcomed HPS,a leading global private credit manager,and Preqin,the foremost providerof private markets data and insights,following the int