Everyone is talking about evergreens.
Alt Goes Mainstream has collaborated with iCapital and Co-Founder & Managing Partner, Head of Portfolio Management Nick Veronis to dive into the evergreen question with some of the leading practitioners in private markets.
This three part series with industry experts from Vista Equity Partners, KKR, and Hamilton Lane shines a light on one of the fastest-growing areas in private markets and its impact on the wealth channel.
The three part series features:
Vista Equity Partners Managing Director, Global Head of Private Wealth Solutions Dan Parant.
KKR Managing Director, Head of Americas, Global Wealth Solutions (GWS) Doug Krupa.
Hamilton Lane Managing Director, Co-Head US Private Wealth Solutions Stephanie Davis.
Please enjoy the third episode of the series as Nick and I talk with Hamilton Lane’s Stephanie Davis.
Show Notes
00:00 Introduction: Setting the Stage
00:17 Early Days in the Evergreen Space
00:32 Stephanie's Journey into Private Wealth
00:46 From Merrill Lynch to Hamilton Lane
01:25 The Evolution of Alternative Investments
02:21 Success in the Early Evergreen Structures
02:37 Challenges and Innovations in Distribution
03:11 Nick's Perspective on the Evergreen Space
03:36 Hamilton Lane's Thought Leadership
03:59 The Importance of Fun in Research
04:38 The Private Wealth Opportunity
04:56 Evolution of Evergreen Funds
05:34 Optimal Structures for Evergreen Funds
06:09 Target Audience and Distribution Needs
06:56 Commitment to Evergreen Structures
07:14 Multi-Manager Approach and Diversification
07:35 The Role of Private Equity in Evergreen Funds
07:58 Adoption of Private Capital by Advisors
08:24 GPs Experimenting with Structures
08:30 Differences Between Interval and Tender Offer Funds
09:07 Institutional Style Pricing and Access
10:08 The Importance of Fee Efficiency
16:16 The Power of Compounding in Evergreen Funds
16:51 Evergreen Funds as Core Allocation
17:24 Institutional Adoption of Evergreen Funds
24:00 Educating Advisors and Clients
24:40 Liquidity Considerations in Evergreen Funds
25:49 The Role of Semi-Liquid Vehicles
26:25 The Importance of Buy and Hold Discipline
27:04 The Never-Ending Need for Education
27:47 Challenges in Educating Advisors
28:07 Modes of Education for Advisors
29:07 Insights from the Evergreen Summit
30:07 Optimal Time to Allocate to Evergreen Funds
36:38 The Importance of Manager Selection
37:57 The Evolving Relationship Between Public and Private Markets
38:45 Closing Thoughts and Future Outlook
39:18 Disclaimer and Legal Information
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