Surveys
Advisors Prioritise Diversification; Lean Into Private Markets – Blackstone Survey

The survey of advisors finds that what they and their clients are most focused on is spreading investments to manage risks – an unsurprising top priority given current uncertain financial markets.
A survey of 157 financial advisors by US-listed Blackstone finds that
against a volatile economic background, more than half (55 per
cent) of the advisors’ clients ranked portfolio
diversification as a top priority.
Almost 80 per cent of respondents expect to increase allocations
to private markets in clients' portfolios in 2025, according
to Blackstone’s Private Wealth Solutions group.
Some 18 per cent of respondents said preserving capital was a
priority, 11 per cent gave “higher income generation,” 13
per cent said “returns,” and 3 per cent said “other.”
The survey also looks at private infrastructure as an investment
area, taking in examples of a number of large asset
managers, such as BlackRock,
DWS and
Vontobel.
BlackRock, for
example, has forecast
that infrastructure will be one of the “fastest growing segments
of private markets in the years ahead,” buoyed by a need for
upgraded fibre broadband, cell towers and data centres; renewed
investment in logistical hubs such as airports, railroads and
shipping ports as supply chains are rewired; and a movement
towards decarbonisation and energy security. (This news service
has written an editorial on the topic, here.)
The Blackstone survey found that 40 per cent of respondents said
clients had only 1 to 3 per cent exposure to private
infrastructure, 41 per cent said there was no exposure at all,
and 13 per cent said holdings stood at 3 to 5 per cent and just 6
per cent gave a result of 5 per cent or more.
Asked what allocations they expect to increase in 2025, 79 per
cent said “private markets” – by far the largest area. Far
behind, at just 7 per cent, said “fixed income,” followed by
7 per cent at “stocks,” 5 per cent said “other/no change”
and just 1 per cent gave cash holdings.
Picking up on the widespread talk about artificial intelligence,
52 per cent of respondents said digital infrastructure was best
positioned to benefit from the rise of AI; some 16 per cent said
healthcare; 13 per cent said logistics; 10 per cent said
cybersecurity and 8 per cent gave energy.