The move, described as a first for the industry, aims to broaden access to private markets previously reserved for institutional and ultra-high-net-worth investors.
The new portfolios will blend public equities and bonds with alternatives, including BlackRock’s $1.1bn Private Credit Fund and $300m Private Investments Fund. On average, private assets are expected to make up 15% of the portfolio mix. The models are supported by iCapital and GeoWealth and are tailored for financial advisers serving retail clients.

This initiative follows a broader strategy by BlackRock to accelerate its push into private markets. In the past year alone, the firm has committed over $28bn across key acquisitions—including Global Infrastructure Partners, Preqin, and HPS Investment Partners. BlackRock’s private markets platform now competes head-to-head with alternative asset managers like Blackstone, KKR, Apollo, and Ares.

The new strategy also reflects CEO Larry Fink’s ongoing challenge to the traditional 60/40 portfolio structure. BlackRock argues that alternatives offer valuable diversification and improved risk-adjusted returns—especially in volatile market environments.

With approximately $300bn already managed in model portfolios globally, BlackRock anticipates this segment to double industry-wide to $10tn over the next four years.