As markets evolve, companies are staying private for longer leading to increasing concentration in public markets. The firm said private markets' demand is continuing to rise. Despite the need for greater diversification, advisors remain under allocated to private markets due to fragmented client experience and limited scalability – these SMA strategies aim to rectify these barriers to access.

The SMA strategies provide advisors with a single solution that diversifies exposure to private equity, private credit, and real assets through seven underlying evergreen private market funds managed by BlackRock, HPS and Partners Group. Delivered through a single subscription document, the three purpose-built strategies – income-focused, balanced, and growth – are designed to meet client objectives while minimizing operational complexity for advisors and their clients. They are available on the Morgan Stanley wealth platform.

“This launch transforms the delivery of alternatives from standalone products into a portfolio solution and helps simplify how financial advisors access private markets for their clients,” said Jon Diorio, head of alternatives for BlackRock’s US wealth business. “By combining the breadth of BlackRock’s private markets platform, expertise in portfolio construction and SMA capabilities with Partners Group’s deep private markets expertise, we are delivering a powerful, holistic private markets solution for financial advisors to help their clients access the broader opportunity set and achieve better portfolio outcomes.”

“This solution represents a transformational step forward in how private markets are delivered to the wealth channel,” Rob Collins, co-head of private wealth at Partners Group, added.