Private Markets: The New Hotspot for Wall Street Wealth

Morgan Stanley and Citigroup wealth executives are increasingly focusing on private markets, as these investments become a significant part of their business strategies. This shift is driven by companies delaying IPOs and the growing influence of wealthy investors in private markets. Private-market assets are projected to reach $65 trillion within a decade, highlighting a trend comparable to the rise of passive investing. Wealthy clients are allocating more of their portfolios to private markets, with investment firms doubling their allocations in 2023.