Private markets giant Blackstone reported a rebound in private wealth inflows in June, following a softer period in April and May, according to a report by Bloomberg citing comments made by President and COO Jon Gray.
Speaking at a recent industry conference hosted by Morgan Stanley in New York, Gray said fundraising momentum among individual investors had strengthened meaningfully at the start of June, reversing a brief slowdown seen earlier in the spring.
He noted that flows from private wealth channels had weakened through April and May but recovered sharply by 1 June, returning to levels comparable with those seen in the first quarter. According to Gray, overall inflows were up around 50% at the start of June compared with the prior two-month period.
The update comes against a backdrop of uneven sentiment in retail-accessible private markets strategies, particularly vehicles designed to give individual investors exposure to less liquid private assets. Industry participants have reported volatility in fundraising for such structures, with some periods marked by net outflows.
Gray also drew a distinction between investor appetite for different private market strategies, suggesting that demand trends have varied across asset classes. He indicated that credit-focused strategies have experienced softer flows amid broader market uncertainty, while private equity fundraising activity has shown stronger resilience.
In equity strategies specifically, Gray said early June marked the strongest inflow period since the firm launched its retail-focused offering, highlighting continued demand from private wealth investors despite recent volatility in adjacent segments such as private credit.
Broader market commentary has echoed similar themes. Switzerland-based asset manager Partners Group recently pointed to increased investor requests for redemptions in private equity and credit vehicles, reflecting growing sensitivity among wealth investors to liquidity constraints and valuation uncertainty.
The discussion took place during events including the Milken Institute Global Conference, where industry leaders have been assessing shifting capital flows into alternative asset classes.
Blackstone and other participants in the conference reportedly declined to provide additional comment.
