BlackRock and Partners Group Launch Private Markets SMA for Wealth Advisors
Event summary
- BlackRock and Partners Group launched a multi-alternatives SMA with three outcome-aligned strategies for wealth advisors.
- The SMA provides diversified exposure to private equity, private credit, and real assets through seven evergreen private market funds.
- The solution is available on the Morgan Stanley wealth platform and aims to simplify private markets access for advisors.
- BlackRock manages over $250 billion in AUM across its SMA platform, while Partners Group oversees $185 billion in private markets assets.
The big picture
The launch addresses the growing need for diversification as companies stay private longer and public markets become more concentrated. With $49 trillion in household financial assets now held by high-net-worth families, advisors face rising demand for sophisticated private markets access. This SMA aims to simplify the complex implementation process that has previously hindered broader adoption.
What we're watching
- Advisor Adoption
- Whether the SMA can accelerate advisor allocation to private markets beyond the current ~7% average.
- Product Differentiation
- How this solution compares to other private markets offerings from competitors like iCapital and CAIS.
- Scalability
- The pace at which BlackRock and Partners Group can expand this SMA to other wealth platforms beyond Morgan Stanley.
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