Welcome back to the Alt Goes Mainstream podcast.
Recently, AGM partnered with Pangea to bring together a group of executives in private markets and wealth management in London for a live AGM podcast featuring Cheri Belski of T. Rowe Price, one of the largest asset managers in the world with over $1.59T AUM.
Cheri is the Global Head of Product at T. Rowe Price, where she's responsible for setting the vision for T. Rowe Price's product development and their strategy in private markets.Â
Cheri also chairs the Product Strategy Committee and is a member of the Investment Management Steering Committee. She is also a vice president of T. Rowe Price Group, Inc., T. Rowe Price Investment Services, Inc., and T. Rowe Price Associates, Inc. Cheri has been with T. Rowe Price since 1997.
Cheri and I had a wide-ranging conversation on private markets. We discussed:
Why did T. Rowe Price look to add alternatives offerings?
How traditional asset managers have approached adding private markets capabilities.
Why T. Rowe Price acquired Oak Hill Advisors.
Build, buy, or partner to add alternatives?
Who will win the distribution battle in the wealth channel — traditional asset managers or alternative asset managers?
Opportunities and challenges with product construction and innovation for the wealth channel.
What the future holds for private markets.
Please enjoy this fascinating conversation with Cheri. Thanks Cheri for sharing your wisdom and experience. We hope you enjoy.
Clip #1: Why alts now? Why not.
Show Notes
00:00Â Introduction: Going Mainstream
00:40Â Welcome to Alt Goes Mainstream Podcast
00:43Â Live Podcast in London with Cheri Belski
00:54Â Cheri Belski's Role at T. Rowe Price
01:19Â Discussion on Private Markets and Traditional Asset Managers
01:37Â Podcast Begins: Marylanders in London
01:59Â Host Introduction: Michael Sidgmore
02:31Â T. Rowe Price's Venture into Alternatives
04:35Â Why T. Rowe Price is Entering Alts
05:46Â Building, Buying, or Partnering in Alts
07:09Â Acquisition of Oak Hill Advisors
07:13Â Integration Challenges and Successes
12:06Â Brand Strategy in Alternatives
14:36Â Distribution Strategies for Alts
16:20Â Traditional vs. Alternative Asset Managers
19:36Â Challenges and Opportunities in Private Markets
19:41Â Advisor Relationships and Education
22:29Â Product Construction and Client Needs
24:36Â Challenges in Private Markets
25:44Â Future of Alternative Investments
26:20Â Conclusion and Farewell
🎙T. Rowe Price's Cheri Belski - how a $1.59T asset manager is approaching private markets: AGM x Pangea Private Markets Live Podcast