BlackRock Private Markets Outlook 2026
BlackRock Private Markets Outlook 2026
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BlackRock Private Markets Outlook 2026: Top 3 Challenges for Private Markets Returns – Exit Environment, Asset Valuations, Interest Rates, Top 3 Sellers Motivation into Secondaries – Liquidity 44%, Portfolio Management 38%, Vehicle Wind Down 12%, Top 5 Private Real Estate – Industrial, Residential, Office, Retail, Self storage, Top 5 Listed Real Estate – Retail, Healthcare / Senior Housing, Residential, Industrial, Data Center, Corporate Credit Market Size – $13 Trillion, Asset-Based Finance (ABF) Market Size – $26 Trillion, 2025 Evergreen Funds NAV $400 Billion, No. of Evergreen Funds 775

11th December | Hong Kong 

BlackRock has released the BlackRock Private Markets Outlook 2026, providing key insights into private markets investments in 2026.  Top 3 Challenges for Private Markets Returns in next 12 months Exit Environment, Asset Valuations, Interest Rates.  Top 3 Private Markets sellers motivation into secondaries market in 2024 – Liquidity 44%, Portfolio Management 38%, Vehicle Wind Down 12%.  Top 5 Private Real Estate – Industrial, Residential, Office, Retail, Self storage.  Top 5 Listed Real EstateRetail, Healthcare / Senior Housing, Residential, Industrial, Data Center.  Top 5 Preferred Real Estate in United States – Data Centers, Single-Family, Senior Housing, Multifamily, Shopping Centers.  Top 5 Preferred Real Estate in Europe – Data Centers, New Energy Infrastructure, Student Housing, Logistics, Multifamily.  Top 5 Preferred Real Estate in APAC – Data Centers, Health / Wellness, Logistics, Senior Housing, Multifamily.  Secondaries Market Volume in 2025 – $220 billion.  Corporate Credit market size – $13 trillion.  Asset-Based Finance (ABF) market size$26 trillion.  Asset-Based Finance (ABF) Real Estate market size – $20.5 trillion.  Asset-Based Finance (ABF) ex-Real Estate market size – $5.5 trillion.  2025 Evergreen Funds NAV $400 billion.  No. of Evergreen Funds (Open-Ended, Semi-Liquid) in 2025 – 775.  See below for key summary & findings | View report here

 



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“ BlackRock Private Markets Outlook 2026: Top 3 Challenges for Private Markets Returns – Exit Environment, Asset Valuations, Interest Rates, Top 3 Sellers Motivation into Secondaries – Liquidity 44%, Portfolio Management 38%, Vehicle Wind Down 12%, Top 5 Private Real Estate – Industrial, Residential, Office, Retail, Self storage, Top 5 Listed Real Estate – Retail, Healthcare / Senior Housing, Residential, Industrial, Data Center, Corporate Credit Market Size – $13 Trillion, Asset-Based Finance (ABF) Market Size – $26 Trillion, 2025 Evergreen Funds NAV $400 Billion, No. of Evergreen Funds 775 “

 

 

BlackRock Private Markets Outlook 2026: Top 3 Challenges for Private Markets Returns – Exit Environment, Asset Valuations, Interest Rates, Top 3 Sellers Motivation into Secondaries – Liquidity 44%, Portfolio Management 38%, Vehicle Wind Down 12%, Top 5 Private Real Estate – Industrial, Residential, Office, Retail, Self storage, Top 5 Listed Real Estate – Retail, Healthcare / Senior Housing, Residential, Industrial, Data Center, Corporate Credit Market Size – $13 Trillion, Asset-Based Finance (ABF) Market Size – $26 Trillion, 2025 Evergreen Funds NAV $400 Billion, No. of Evergreen Funds 775

BlackRock Private Markets Outlook 2026
BlackRock Private Markets Outlook 2026

BlackRock has released the BlackRock Private Markets Outlook 2026, providing key insights into private markets investments in 2026.   See below for key summary & findings | View report here

 

BlackRock Private Markets Outlook 2026

Summary

  1. Top 3 Challenges for Private Markets Returns in next 12 months Exit Environment, Asset Valuations, Interest Rates 
  2. Top 3 Private Markets sellers motivation into secondaries market in 2024 – Liquidity 44%, Portfolio Management 38%, Vehicle Wind Down 12%
  3. Top 5 Private Real EstateIndustrial, Residential, Office, Retail, Self storage
  4. Top 5 Listed Real EstateRetail, Healthcare / Senior Housing, Residential, Industrial, Data Center
  5. Top 5 Preferred Real Estate in United States – Data Centers, Single-Family, Senior Housing, Multifamily, Shopping Centers 
  6. Top 5 Preferred Real Estate in Europe – Data Centers, New Energy Infrastructure, Student Housing, Logistics, Multifamily
  7. Top 5 Preferred Real Estate in APAC – Data Centers, Health / Wellness, Logistics, Senior Housing, Multifamily 
  8. Secondaries Market Volume in 2025 – $220 billion
  9. Corporate Credit market size$13 trillion
  10. Asset-Based Finance (ABF) market size$26 trillion
  11. Asset-Based Finance (ABF) Real Estate market size – $20.5 trillion
  12. Asset-Based Finance (ABF) ex-Real Estate market size – $5.5 trillion
  13. 2025 Evergreen Funds NAV $400 billion
  14. No. of Evergreen Funds (Open-Ended, Semi-Liquid) in 2025 – 775

 

BlackRock Private Markets Outlook 2026

1) Private Markets Overview

Top 7 Challenges for Private Markets Returns in next 12 months:

  1. Exit Environment 
  2. Asset Valuations 
  3. Interest Rates 
  4. Competition for Assets 
  5. Deal Flow 
  6. Geopolitical Landscape 
  7. Stock Market Volatility 

Private Markets sellers motivation into secondaries market in 2024:

  1. Liquidity – 44%
  2. Portfolio Management – 38%
  3. Vehicle Wind Down – 12%
  4. Regulatory / Legislation – 4%
  5. Other – 2%

Secondaries Market Volume:

  • 2024 – $160 billion 
  • 2025 (Estimates) – $220 billion

 

2) Real Estate

Top Private Real Estate:

  1. Industrial 
  2. Residential
  3. Office
  4. Retail
  5. Self storage
  6. Healthcare / Senior Housing
  7. Data Center
  8. Other
  9. Hotel

Top Listed Real Estate:

  1. Retail
  2. Healthcare / Senior Housing
  3. Residential
  4. Industrial 
  5. Other
  6. Data Center
  7. Self storage
  8. Office
  9. Hotel

Top Preferred Real Estate in United States:

  1. Data Centers 
  2. Single-Family
  3. Senior Housing 
  4. Multifamily
  5. Shopping Centers 
  6. Manufacturing 
  7. Student Housing 
  8. Logistics Warehouse
  9. Flex 
  10. Logistics Fulfilment 

Top Preferred Real Estate in Europe:

  1. Data Centers
  2. New Energy Infrastructure 
  3. Student Housing 
  4. Logistics
  5. Multifamily
  6. Self-Storage
  7. Retirement Living 
  8. Co-Living
  9. Education
  10. Serviced Apartment

Top Preferred Real Estate in APAC:

  1. Data Centers
  2. Health / Wellness 
  3. Logistics
  4. Senior Housing 
  5. Multifamily 
  6. Student Housing 
  7. Hotels
  8. Life Sciences 
  9. Affordable Housing 
  10. Self Storage

 

3) Credit 

Credit Market Size:

  • Corporate Credit$13 trillion
  • Asset-Based Finance (ABF) $26 trillion
  • Asset-Based Finance (ABF) Real Estate market size$20.5 trillion
  • Asset-Based Finance (ABF) ex-Real Estate$5.5 trillion

 

4) Evergreen Funds

2025 Evergreen Funds NAV $400 billion

No. of Evergreen Funds (Open-Ended, Semi-Liquid):

  • 2016 – 175
  • 2017 – 200
  • 2018 – 225
  • 2019 – 275
  • 2020 – 325
  • 2021 – 400
  • 2022 – 475
  • 2023 – 575
  • 2024 – 700
  • 2025775

Note ~ Rounded to next 25 (Eg. 111 rounded to 125)

 

 

BlackRock Private Markets Outlook 2026

Introduction – As the world’s capital seeks resilience in a changing global economy, private markets hold the key to many pressing challenges and opportunities. In 2026, they have the potential to redefine the ways that states and corporations build infrastructure, how businesses finance their growth and how investors build diversified portfolios. In the U.S., the number of listed domestic companies has fallen from 8,000 in the mid-1990s to fewer than 4,500 today,1 as a result of consolidation, de-listings, and companies choosing to remain private for longer.  Challenges remain for private investors, though, particularly around liquidity.   With IPO and M&A activity slowing in recent years, many high-quality companies are staying private longer and increasingly working within the private markets for financing, namely through private credit and secondary strategies. As these areas expand, private credit and private equity are becoming essential to capturing the full opportunity set. 




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