AGM Alts Weekly | 8.31.25: High-net-worth, reaching new heights
AGM Alts Weekly #118: Making private markets more public, every week.
👋 Hi, I’m Michael.
Welcome to AGM, the meeting place for private markets, where I’ve been writing and podcasting about the convergence of private markets and private wealth since December 2020.
I’m excited to share my weekly newsletter, the AGM Alts Weekly. Every Sunday, I cover news, trends, and insights on the continuing evolution and innovation in private markets. I share relevant news articles, commentary, an Index of publicly traded alternative asset managers, job openings at private markets firms, and recent podcasts and thought pieces from Alt Goes Mainstream.
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Good afternoon from Washington, DC.
The ground shook in the RIA world this week with one of the industry’s largest acquisitions in recent memory: ~$31B AUM (as well as another $3.8B AUA) Cleveland-based MAI Capital Management combined with $27B AUM Evoke Advisors to form a nearly ~$60B AUM RIA.
MAI, whose origins lie in serving athletes and entertainers as a result of its establishment in affiliation with sports and culture company and agency IMG, has been acquisitive since becoming a fully independent wealth management firm in 2004. Interestingly, much of the activity to add teams, capabilities, and AUM to the firm have taken place in the last year, with the firm completing 12 acquisitions in 2024 alone. The acquisitive nature of the firm has helped propel its AUM from around $1B in 2004 to over $30B today.
The deal with Evoke is “much more strategic, much more transformational” than other deals they’ve done before, according to MAI CEO Rick Buoncore’s comments in an interview with Barron’s.
Los Angeles-based Evoke, which became an independent firm after spinning out of First Republic in 2019, should fit in well with MAI.
Evoke will continue to serve ultra-high-net-worth clients, with the combined firms offering high-touch family office services and private markets capabilities, with the idea that this offering will be attractive to elite clients, particularly in the sports space.
Evoke, which was ranked #1 on the Forbes SHOOK 2024 Top RIA Rankings, has leveraged a 20-person Family Office Services team to deliver white glove treatment to a client base that has an average net worth of $25-50M, according to the Forbes SHOOK rankings.
This high-end service offering from Evoke should align well with MAI’s focus on athletes. Buoncore noted in the interview Barron’s that MAI serves around 800 athletes — and many professional contracts now regularly hit nine figures.
Why is this acquisition such a big deal?
High-net-worth reaching new heights
UHNW RIA M&A appears to be on the rise.
Three charts from DeVoe & Company’s Q2 2025 RIA Dealbook highlight the trend of larger RIAs becoming an increasingly larger part of the M&A transaction activity.
Another chart from DeVoe highlights the growth in sales by $1-5B RIAs.
And UHNW sellers have doubled their activity since 2023.
It appears that RIAs are seeing the benefits of joining a platform that has scale.
A recent article from Wealth Management’s Alex Ortolani highlights how scale is convincing some wealth management entrepreneurs to join forces with larger firms.
Ortolani shared the experience of Monterey Private Wealth’s Founder Gary Alt. Alt and his partners, who recently sold their $1B RIA to Creative Planning, were initially apprehensive about selling their firm to a larger organization.
But ultimately, Alt said that scale was a key component of why they joined Creative Planning. “One of the things we learned was that scale matters in this business,” he noted. Alt shared the importance of scale: “A scaled company is using its size to its advantage,” he said. “Economies of scale, negotiating power, momentum, market presence.… In the end, we didn’t choose a large company, but a scaled company.”
Scale has proven to matter in alternative asset management — the industry is witnessing in realtime how the evolution from funds to firms has transformed how alternative asset managers do business and who they do business with.
So too is scale a major feature of the current landscape of wealth management.
The $1T RIA is no longer a pipe dream. And it’s the $1B+ AUM firms that are projected to grow significantly in the coming years, according to a chart from Constellation Wealth Capital.
And it’s the largest firms and aggregators that are gathering the majority of the assets.
A chart from a report by the Investment Adviser Association hammers home the point of where AUM is aggregated in the RIA space: to the largest managers.
Just 1.3% of the industry’s advisors manage 66.1% of the industry’s assets. With an industry comprised of nearly 18,000 RIAs, the long tail is highly fragmented.
A chart from the Investment Adviser Association highlights that to the scaled players go the spoils. This trend was particularly acute in 2023, when firms over $100B in AUM saw the biggest increase in AUM relative to firms of smaller sizes.
Some of that growth will come from client acquisition. Some will likely come from organic AUM growth from market performance.
What does scale mean for delivering private markets solutions to private wealth clients?
Balancing customization with scale
As I’ve discussed in the past on Alt Goes Mainstream, private wealth is at a crossroads when it comes to approaching private markets.
As continued consolidation occurs in the private wealth market, wealth management firms that grow bigger have to balance customization with scale in order to deliver private markets solutions to their clients.
Customization and collaboration was a topic that MAI’s CIO Kurt Nye and I discussed at iCapital Connect in an interview at the conference earlier this year.
Kurt shared a number of interesting perspectives, including the importance of customizing solutions at scale. He said that MAI aims to “fully integrate private markets into its investment framework.” But in the past, the firm has had to fill out thousands of subscription documents for investments.
The solution? Partnering with iCapital to help scale its custom alternatives platform. A “full cycle alts experience from iCapital allows us to scale, transferring over $1B in assets to the iCapital platform.”
Kurt also noted that MAI’s focus is on creating bespoke solutions for clients: “Our focus is to build and manage bespoke portfolios built to preserve and create wealth across generations. With the support of iCapital, our team can now spend more time focusing on our diversified portfolios, balancing risk and deepening client relationships, instead of being bogged down by the operational intensity of alternative investments.”
Other wealth management firms are finding ways to create capabilities that enable them to deliver customization at scale in private markets.
It should therefore come as no surprise that the industry is seeing consolidation of OCIOs by large RIAs and wealth platforms, particularly as these firms look to augment their private markets capabilities at scale.
As I wrote in the 4.14.24 AGM Alts Weekly following Cerity’s merger with OCIO Agility, private markets capabilities have gone from nice-to-have to need-to-have for wealth management platforms.
Private markets are a need-to-have for many wealth platforms in terms of both client acquisition and retention, as well as advisor recruitment or acquisition.
Cresset’s recent purchase of $124B AUA Monticello Associates follows Merchant’s stake in Stone Temple Partners, Pathstone’s acquisition of Hall Capital Partners, Hightower’s purchase of NEPC, and Cerity’s merger with Agility.
These scaled platforms all see the importance of having investment teams with the requisite expertise, market coverage, and scale to properly cover private markets.
As director of Cerulli’s institutional division Laura Levesque said in an August 2023 article in Institutional Investor, OCIOs help investors move into alternatives in a systematic, comprehensive way: “OCIOs can gain access to [a variety of asset classes, including alternatives and private assets] through economies of scale and commingled vehicles, another reason nonprofits are moving to the model.”
Cresset Partners Founder and Chairman Avy Stein said in a recent Family Wealth Report article that adding capabilities to help serve the $100M+ UHNW client, a market that recently acquired OCIO Monticello Associates focuses on, is “very accretive to us.”
Does the addition of OCIO capabilities to large wealth management platforms and aggregators render private markets becoming sold rather than bought?
Many in the industry would likely still say that private markets products are sold, not bought.
But the addition of OCIO capabilities certainly makes these larger wealth platforms possess capabilities that make them seem more like institutional allocators when it comes to how they diligence, source, and invest in private markets funds.
The other question for alternative asset managers looking to partner with large wealth platforms?
Will distributing private markets products to large independent wealth platforms become more similar to distributing to wirehouses?
Industry veteran and CEO and President of Mariner Wealth Advisors Marty Bicknell noted in a ThinkAdvisor interview in 2024 that “in five to 10 years, there will be a handful of truly large independent RIAs that can rival the size of the wirehouses.”
News this week from Wells Fargo, which rolled out private markets investments in unified managed accounts in partnership with InvestCloud, also highlights the focus from large wealth management businesses about balancing customization with scale.
WIM Investment Solutions product management executive Greg Maddox noted that Wells is “committed to providing new technologies that deliver personalized, scalable, and data-driven client experiences.” Wells also noted in a 2024 report by their Investment Institute that they recommend 30% allocation to alternative investments and real assets for certain clients.
With UMAs, it’s the larger alternative investment platforms that possess evergreen fund offerings who will have an advantage in distribution.
Smaller, more niche funds might find a place with wealth platforms focused on the UHNW client because those clients might want differentiated, unique offerings — and now these firms have OCIO capabilities to serve that demand.
There’s no uniform distribution strategy for the wealth channel. After all, the wealth channel is not monolithic, as I’ve written in the past.
With the wealth management market structure changing rapidly — in part due to an intensified focus on catering to the UHNW client — distribution strategies might have to change — or at least be recalibrated as alternative asset managers both large and small figure out how to serve the segment of the wealth management market that will continue to be the most active users of private markets for the time being: the UHNW client. And the MAI / Evoke combination is yet another proof point that the wealth management market is heading in this direction.
AGM Index
AGM has created an Index to track the leading publicly traded alternative asset managers.
Some of the industry’s largest alternative asset managers are publicly traded — and their net inflows can serve as a window into how private markets are being perceived by investors and allocators who are allocating capital into alternative investments.
Note: AUM figures are based on fee-paying AUM where applicable.
Chart of the Week
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Buyout holdings face leverage challenges
In another sign of pressure in private equity, debt comfort levels in buyout holdings have deteriorated.
By Q1 2025, roughly 55% of buyout holdings sat in the tight, tapped-out or breach zones of their leverage cap, a limit to manage borrowers’ risk. The squeezed leverage could hamper the growth options for portfolio companies — and their private-equity owners.
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AGM News of the Week
Articles we are reading
📝 Wealthy Americans pour record sums into private credit funds | Eric Platt, Emma Dunkley, Alexandra Heal, Financial Times
💡Financial Times’ Eric Platt, Emma Dunkley, and Alexandra Heal report that US HNW investors have invested $48B into private credit funds in the first half of 2025, already besting the entire quantum of capital raised in 2023. The 2025 fundraising flows, according to RA Stanger, are on track to eclipse 2024’s figures of $83.4B. It’s not just American HNW investors that are allocating to private credit. European investors are also investing in private credit funds, with research from Novatingo finding that flows into evergreen private credit funds have more than doubled from a year ago to €24B by the end of June. Private credit is considered a growth market, according to analysts at ratings agency Moody’s, who have called private credit “one of the biggest new growth frontiers in the industry.”
Part of the reason for such astronomical growth in private credit flows? The capital coming from wealth channel investors represents a previously untapped pool of capital. Blackstone’s Head of Private Credit Brad Marshall remarked that “the growth is coming from a very underpenetrated market. Private markets offer investors a premium [over] what they can get in public markets.”
But while individual investors are allocating to private credit in record numbers, data from Preqin shows that private credit vehicles marketed to institutional investors, including endowments and pensions, have raised successively less every year since peaking in 2021.
The wealth channel, however, has increased its allocations to private credit. And demand stayed stable during market swings earlier this year. “It reinforced what we’d want to see, people not running from alternatives but looking at alternatives and saying there was stability there,” said John Sweeney, who runs the Wealth Solutions business at Brookfield.
Blackstone’s private credit fund, BCRED, has brought in $6.5B thus far in 2025 and $11.7B over the past 12 months, increasing the size of the fund to over $73B in June. Other firms are growing in size and scale as well. Apollo’s offering, Apollo Debt Solutions, raised $6.4B over the past year, two funds from Blue Owl have had $7B in flows, and Ares’ Strategic Income Fund has raised $5B. Cliffwater, whose private credit fund is see by some as providing broad exposure to the direct lending market across multiple managers, raised nearly $11B over the past year and is now at over $30B AUM. Blackstone is the beneficiary of being an early mover in the space, but Ares’ Global Head of Wealth Management Raj Dhanda noted that wealth managers have been interested in expanding the number of funds they could work with given that “Blackstone’s share of the market was probably uncomfortably high.” Dhanda also remarked that it’s still a small group of alternative asset managers that are raising the lion’s share of the capital from the wealth channel.
💸 AGM’s 2/20: Private credit appears to be a market that’s going from strength to strength. This growth doesn’t come without questions. But it does seem that private credit will continue on its growth path, particularly in fundraising, due to a few trends:
Private credit firms have raised record fund sizes: Private credit firms, particularly the large firms that are either scaled firms themselves or have joined forces with even bigger platforms (as HPS did with BlackRock last year). 2024 witnessed some of the largest private credit fundraises in history.
According to Preqin, HPS’s latest credit fund, which closed on $14.3B of commitments from investors (meaning that the $21.1B figure also includes bank loans as part of the capital to invest), was one of the largest funds ever raised by a traditional direct lending fund.
Part of BlackRock’s rationale for their purchase of HPS was due to its fundraising prowess. According to a presentation by BlackRock at the time of the acquisition, HPS was #2 in fundraising over the past 5 years, with 68% of its AUM coming from insurance and pension funds and almost 80% of its AUM from multi-product relationships, meaning it has been effective at cross-selling its LP base.
Speaking of insurance relationships, that brings up another trend driving private credit forward.
Insurance intersections: Private credit has met its match with insurance. A raft of strategic partnerships have been struck between alternative asset managers and insurance firms. Northwestern Mutual partnering with Sixth Street, Guardian Life partnering with HPS, and Voya partnering with Blue Owl represent a few of the larger deals in recent times. And, of course, Apollo’s Athene and KKR’s Global Atlantic represent insurance models captive to alternative asset managers that are driving growth in private credit.
The data supports this trend.
An article in the FT by Oliver Wyman’s Huw van Steenis notes that private credit assets funded by insurers at top-seven North American-listed private capital firms now account for 43% of credit assets held by these alternative asset managers. That’s up a staggering 11% since 2021.
Put another way, van Steenis writes, more than half of inflows in 2024 came from insurers.
That sure makes insurers integral to the growth of private markets. So much so, I would argue, that in addition to the wealth channel, insurance companies are the new institutional LP.
Insurance company CIOs appear to believe that private credit can provide a solution to help them meet their return requirements.
KKR’s April 2024 survey of 50 insurance company CIOs yielded a telling answer about where insurance companies believe they need to invest in order to generate returns going forward.
64% of CIOs stated that they believe alternative investments will play a role in driving returns.
A Schroders’ survey paints a similar picture.
Their survey finds that 95% of insurance companies are now either invested or plan to invest into private markets within the next two years.
The next wave of growth for private credit? Perhaps its retirement accounts.
Who is hiring?
In order for alts to continue to go mainstream, we need the best talent to go into the space. Here are some openings at private markets firms. If you’d like to connect with any of these teams, let me know, and I’m happy to facilitate an introduction if appropriate. If you’re a company or fund in private markets, feel free to reach out to share a job description you’d like to be listed here to highlight for the Alt Goes Mainstream community.
🔍 Blackstone (Alternative asset manager) - Private Wealth Solutions - Content Marketing, Vice President - Tokyo. Click here to learn more.
🔍 KKR (Alternative asset manager) - Vice President, Structured & Asset Backed Credit. Click here to learn more.
🔍 Apollo Global Management (Alternative asset manager) - Managing Director, Head of Investment Grade Research. Click here to learn more.
🔍 Ares (Alternative asset manager) - Vice President, Product Management & Client Services, Wealth Management Solutions, APAC. Click here to learn more.
🔍 Blue Owl (Alternative asset manager) - Private Wealth, Tax Advantaged Strategy - Principal. Click here to learn more.
🔍 Franklin Templeton (Asset manager) - Head of Marketing - France, Benelux, and the Nordics. Click here to learn more.
🔍 iCapital (Private markets infrastructure investment platform) - RIA, Family Office Business Development - Vice President. Click here to learn more.
🔍 Goldman Sachs Alternatives (Alternative asset manager) - Asset & Wealth Management, Sustainability & Impact, Value Creation, Associate - New York. Click here to learn more.
🔍 Partners Group (Alternative asset manager) - Managing Director, Private Equity Business Development. Click here to learn more.
🔍 Ultimus Fund Solutions (Fund administrator) - SVP, Business Development. Click here to learn more.
🔍 Cerity Partners (Wealth management platform) - Head of Talent, Principal. Click here to learn more.
🔍 JPMorgan Chase (Asset manager) - Asset Management - Private Equity Associate - Program Associate. Click here to learn more.
🔍 SageSpring Wealth Partners (Wealth manager) - Team Financial Advisor. Click here to learn more.
🔍 MSCI (Data services) - Vice President, Program Management - Private Assets. Click here to learn more.
🤝 Interested in partnering with Alt Goes Mainstream? 🤝
Alt Goes Mainstream is a community of engaged experts and executives in private markets.
Fill out this form using the link below to explore partnership opportunities.
The latest on Alt Goes Mainstream
Recent podcast or video episodes and blog posts on Alt Goes Mainstream:
🎥 Watch Arcesium MD and Head of Client and Partner Development David Nable discuss how to architect private markets technology infrastructure for the future. Watch here.
🎥 Watch Juniper Square CEO and Co-Founder Alex Robinson on balancing AI with the human element in fund administration. Watch here.
📝 Read the latest AGM Op-Ed — “Retail and the City #2” with former Pantheon Partner Susan Long McAndrews on five takeaways from the Executive Order that could see private assets in 401(k) plans. Read here.
🎥 Watch Hg Senior Partner and Executive Chairman Nic Humphries discuss how Hg has grown into a $100B scaled specialist and how one of the industry’s leading private equity technology and services investors is “navigating investing at an inflection point in history.” Watch here.
🎥 Watch EQT Partner, Head of Private Wealth Americas Peter Aliprantis live from Miami on how EQT is bringing global local. Watch here.
📝 Read The AGM Op-Ed with Arcesium SVP, Business Development - Private Markets Jean Robert on why asset managers need to rethink reporting as a strategic advantage. Read here.
🎥 Watch SageSpring Private Wealth CEO Winston Justice share how he went from protecting star quarterbacks as an NFL tackle to protecting families’ wealth. Watch here.
🎥 Watch Blue Owl Co-President and Global Head of Real Assets Marc Zahr share the story of how he built Oak Street from $17M in AUM in 2009 to what is now Blue Owl’s $67.1B AUM Real Assets business in a live Alt Goes Mainstream podcast at Future Proof Citywide. Watch here.
📝 Read The AGM Op-Ed with former Pantheon Partner Susan Long McAndrews on why everything we need to know might be in Sacramento (where CalPERS is located). Read here.
🎥 Watch Hg’s Partner and Head of Hg Wealth Martina Sanow discuss how Hg has unlocked opportunities for the wealth channel to invest in Europe’s largest portfolio of software and services businesses. Watch here.
🎥 Watch Goldman Sachs’ Partner and Global Co-Head of the Petershill Group at Goldman Sachs Robert Hamilton Kelly discuss the evolution of the GP stakes industry and how Goldman has become a market leading GP stakes investor. Watch here.
🎥 Watch Blue Owl’s MD, Head of Alternative Credit Ivan Zinn unpack private credit and why ABF has become a prominent part of the private credit ecosystem. Watch here.
📝 Read The AGM Op-Ed with Blue Owl Head of Alternative Credit Ivan Zinn on why “asset-based finance today mirrors the evolution of corporate direct lending from over a decade ago.” Read here.
🎥 Watch Lincoln Financial’s EVP and CIO Jayson Bronchetti discuss the role of insurance companies in private markets as he discusses how he manages a portfolio of $300B in assets. Watch here.
🎥 Watch Krilogy’s Partner and CIO John McArthur discuss how an RIA can chart a growth path by building out its private markets capabilities. Watch here.
🎥 Watch New Mountain Capital’s Founder & Chief Executive Officer Steve Klinsky discuss how $55B AUM New Mountain has built a business that builds businesses. Watch here.
🎥 Watch Arcesium’s Private Markets Head Cesar Estrada discuss data silos and technology integrations in private markets. Watch here.
🎥 Watch GeoWealth President & COO Jack Hannah and iCapital SVP, Partnerships Michael Doniger discuss the ground-breaking BlackRock, iCapital, and GeoWealth unified managed account partnership live from iCapital Connect. Watch here.
🎥 Watch Goldman Sachs’ Managing Director, Global Head of Alternatives, Third Party Wealth Kyle Kniffen discuss how they are “standing on the shoulders of Goldman Sachs to be a complete partner” for the wealth channel. Watch here.
🎥 Watch Fortress Investment Group Managing Director & Co-Head of Private Wealth Solutions Adam Bobker discuss how Fortress has built a wealth solutions business from a whiteboard, leaning on the firm’s pioneering history of innovation. Watch here.
🎥 Watch Constellation Wealth Capital President & Managing Partner Karl Heckenberg on why there will be a $1T independent wealth management firm. Watch here.
🎙 Listen to Ted Seides, Founder of Capital Allocators, and I discuss the convergence of the institutional world and the wealth world as we dive into the intersection of private markets and private wealth to kick off a Capital Allocators mini-series on Private Wealth. Listen here.
🎥 Watch BlackRock Managing Director, Co-Head of US Wealth Business, Senior Sponsor for Retirement Business Jaime Magyera and iCapital Chairman & CEO Lawrence Calcano discuss the ground-breaking BlackRock, iCapital, and GeoWealth unified managed account partnership live from iCapital Connect. Watch here.
🎥 Watch EQT Partner & Head of Private Wealth Americas Peter Aliprantis discuss how the firm is bringing EQT’s success to the US wealth market. Watch here.
🎥 Watch KKR Partner & Co-CEO of KKR Private Equity Conglomerate LLC (K-PEC) Alisa Wood discuss how the firm has innovated in private markets, why KKR came up with the Conglomerate structure, and how evergreens can play a role in investors’ portfolios. Watch here.
🎥 Watch Cantilever Group’s Co-Founder and Managing Partner Todd Owens in a live podcast from BTG Pactual’s NYC office share why GP stakes can be the best of all worlds. Watch here.
📝 Read The AGM Op-Ed with Arcesium Private Markets Head Cesar Estrada on the rise of asset-based finance and why it’s the next growth engine for private credit. Read here.
🎥 Watch BlackRock’s Head of the Americas Client Business Joe DeVico, Head of Product for US Wealth & Head of Alts to Wealth Jon Diorio, and Partners Group's Co-Head of Private Wealth Rob Collins discuss their landmark private markets model portfolio partnership that could be the industry’s “iPhone Moment.” Watch here.
🎥 Watch Brookfield Oaktree Wealth Solutions CEO John Sweeney discuss how to build a high-performing wealth solutions team and why the word “solutions” matters when working with the wealth channel. Watch here.
🎥 Watch Cerity Partners’ Partner & Chief Client Officer Tom Cohn and Partner Amita Schultes talk about how and why they have combined a leading OCIO with a $100B AUM wealth management practice. Watch here.
🎥 Watch Marc Lipschultz, Co-CEO of Blue Owl, talk about how they have aimed to skate where the puck is going as Blue Owl has grown its AUM to $265B in nine years. Watch here.
📝 Read The AGM Q&A with Blue Owl Co-CEO Marc Lipschultz, where he highlights some of the trends that have propelled alternative asset management into the mainstream: scale, a focus on private credit, and a focus on private wealth. Read here.
🎙 Listen to Stephanie Drescher, Partner & Chief Client & Product Development Officer of Apollo, discuss what is safe and what is risky as she dives into both the convergence between public and private and the nuances of asset allocation. Listen here.
🎥 Watch Eric Satz, Founder & CEO of Alto share thoughts on why retirement assets could be the next frontier for private markets. Watch here.
🎥 Watch Mike Tiedemann, CEO of $72B AUM AlTi Global share why being a global wealth manager can be a differentiator. Watch here.
🎥 Watch Joan Solotar, Global Head of Private Wealth Solutions at Blackstone share why it’s not even early innings, but that it’s “spring training” for private markets adoption by the wealth channel. Watch here.
🎥 Watch Venkat Subramaniam, Co-Founder of DealsPlus on building a single source of truth for private markets. Watch here.
🎥 Watch Yann Magnan, Co-Founder & CEO of 73 Strings discuss the opportunity for AI to automate private markets. Watch here.
🎥 Watch Lawrence Calcano, Chairman & CEO of iCapital on episode 14 of the latest Monthly Alts Pulse as we discuss whether or not private markets has moved from access as table stakes to customization and differentiation. Watch here.
🎥 Watch Hamilton Lane Managing Director, Co-Head US Private Wealth Solutions Stephanie Davis and iCapital Co-Founder & Managing Partner Nick Veronis discuss the evolution of evergreen funds on the third episode of the Investing with an Evergreen Lens Series. Watch here.
🎥 Watch KKR Managing Director, Head of Americas, Global Wealth Solutions (GWS) Doug Krupa and iCapital Co-Founder & Managing Partner Nick Veronis discuss the evolution of evergreen funds on the second episode of the Investing with an Evergreen Lens Series. Watch here.
🎥 Watch Vista Equity Partners Managing Director, Global Head of Private Wealth Solutions Dan Parant and iCapital Co-Founder & Managing Partner Nick Veronis discuss the evolution of evergreen funds on the first episode of the Investing with an Evergreen Lens Series. Watch here.
📝 Read about a year in the book of alts — a compilation of the 1,000+ pages written in weekly newsletters on Alt Goes Mainstream in 2024. Read here.
📝 Read about the launch of the AGM Studio, a collaboration between Alt Goes Mainstream and Broadhaven Ventures to incubate, invest in, and help scale companies and funds in private markets. Read here.
🎙 Hear Balderton Capital General Partner and former Goldman Sachs Partner Rana Yared discuss why Europe can build global companies out of the region. Listen here.
🎥 Watch Stepstone Private Wealth CEO Bob Long discuss StepStone Private Wealth’s edge and nuances with their evergreen structures in the first episode of “What’s Your Edge.” Watch here.
🎙 Hear $5B AUM Ritholtz Wealth Management’s Director of Institutional Asset Management Ben Carlson bring a wealth of common sense to asset allocation and private markets. Listen here.
🎙 Hear Blue Owl, Inc. Board Member and Blue Owl GP Strategic Capital Senior Managing Director Sean Ward on how $57.8B AUM Blue Owl GP Strategic Capital has pioneered GP staking and transformed GP stakes into an industry. Listen here.
🎥 Watch Co-Founder & Managing Partner of Cantilever Group and former Goldman Sachs and Broadhaven Capital Partners Partner Todd Owens discuss the middle market opportunity in GP stakes investing. Watch here.
🎙 Hear Intapp’s President, Industries, and Co-Founder of DealCloud by Intapp Ben Harrison discuss how data and automation are transforming private markets. Listen here.
🎙 Hear Bernstein Private Wealth Management’s CIO Alex Chaloff discuss how a $125B wealth manager navigates private markets. Listen here.
🎙 Hear me discuss why and how alts are going mainstream on The Compound’s Animal Spirits podcast with Ritholtz Wealth’s Michael Batnick and Ben Carlson. Listen here.
🎙 Hear Manulife’s Global Head of Private Markets Anne Valentine Andrews share how to approach building a private markets investment platform at an industry behemoth and the merits of infrastructure investing. Listen here.
🎥 Watch Lawrence Calcano, Chairman & CEO at iCapital, on the AGM podcast discuss driving efficiency across the entire value chain to transform private markets. Watch here.
🎙 Hear VC legend New Enterprise Associates’ Chairman Emeritus and Former Managing General Partner Peter Barris discuss how he transitioned from operator to VC and transformed NEA into a venture juggernaut in the process. Listen here.
🎙 Hear Blue Owl’s Global Private Wealth President & CEO Sean Connor share insights and lessons learned from working with the wealth channel. Listen here.
🎙 Hear Ritholtz Wealth Management’s Managing Partner Michael Batnick share views on how wealth managers are navigating private markets. Listen here.
📝 Read about the evolution of GP stakes, why alternative asset management business models are better than SaaS, and our partnership with Todd Owens and David Ballard at Cantilever, a mid-market GP stakes firm anchored by BTG Pactual. Read here.
🎙 Hear how Chris Long, Chairman, CEO, and Co-Founder of Palmer Square Capital Management has built a $29B credit investment firm and a winning NWSL soccer franchise, the KC Current. Listen here.
🎙 Hear stories from building market-defining companies Blackstone, Airbnb, and private markets from Laurence Tosi, former CFO of Blackstone and Airbnb and Managing Partner & Founder of $7.6B investment firm WestCap. Listen here.
🎙 Hear Chris Ailman, the CIO of $307B CalSTRS, discuss how he manages a portfolio with ~40% exposure to private markets. Listen here.
🎙 Hear Blackstone CTO John Stecher discuss how technology is transforming private markets. Listen here.
🎙 Hear investing legends John Burbank and Ken Wallace of Nimble Partners provide a masterclass on investing with both a macro and VC lens. Listen here.
📝 Read how 73 Strings CEO & Co-Founder Yann Magnan and team are leveraging AI to build a modern and holistic monitoring and valuation platform for private markets in The AGM Q&A. Read here.
🎙 Hear Robert Picard, Head of Alternatives at $117B AUM Hightower, discusses how they approach alternative investments. Listen here.
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