Episodios

  • New Mountain Capital's Steve Klinsky - building a business that builds businesses

    New Mountain Capital's Steve Klinsky - building a business that builds businesses
    May 27 2025
    Welcome back to the Alt Goes Mainstream podcast.Today’s episode is with a private equity pioneer who has seen the industry evolve in the forty plus years he’s spent in private markets.We sat down with Steve Klinsky, the Founder and Chief Executive Officer of New Mountain Capital, which he started in 1999, and has grown to over $55B AUM with an investment platform that spans strategies across Private Equity, Credit, and Net Lease Real Estate.Steve was the Co-Founder of the Leverage Buyout Group at Goldman Sachs from 1981-1984, where he helped execute over $3B of transactions for Goldman and its clients. He then joined Forstmann Little and Co. as an Associate Partner and General Partner, helping to oversee seven private equity and debt partnerships totaling over $10B in capital.He has since built New Mountain Capital into a leading alternative asset manager that has charted a growth path. Yet the firm has remained true to its roots and mindset of its “family business background,” which has informed how New Mountain has partnered with both GPs and LPs, and it's a DNA that is central to their recent rollout of a wealth solutions business.Steve and I had a fascinating discussion about the evolution of private markets and how to build a leading alternative asset manager that helps build businesses. We covered:How private markets have changed since Steve began in the industry.What it means to build “great businesses.”How the mindset of the “family business background” has helped inform investment strategy and deepening LP relationships.How Steve and New Mountain have navigated scaling the firm while focusing on generating returns for LPs.How New Mountain has approached launching new strategies.The why and how behind launching a wealth solutions business.Thanks Steve for coming on the show to share your wisdom and expertise on private markets.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Message from our sponsor, Ultimus Fund Solutions01:23 Podcast Theme and Opening02:03 Guest Introduction: Steve Klinsky04:00 Steve's Early Career in Private Equity05:39 The Evolution of Private Equity06:55 Forstmann Little and Co. Experience07:36 Founding New Mountain Capital08:08 New Mountain's Investment Philosophy08:25 Family Business Influences08:56 New Mountain's Cultural Values09:13 Working with Entrepreneurs and Management Teams10:15 Scaling New Mountain Capital13:35 Investment Strategies and Talent14:45 Opportunities and Challenges in Private Equity15:03 Mid-Market Focus and Growth Opportunities16:10 Impact of Industry Growth on Mid-Market Firms16:50 Product Innovation in Private Markets18:40 Synergy Between Investment Strategies20:20 Growth and Future of New Mountain Capital21:10 Engaging the Wealth Channel21:40 Building the New Mountain Brand23:07 New Mountain's Edge and Performance24:20 Engaging the Wealth Channel25:50 Customization and Differentiation in Wealth Management27:17 Strategies for Wealth Channel Engagement27:39 Productization for the Wealth Channel28:05 Industry Evolution and Consolidation28:40 Wealth Channel vs Institutional Channel29:44 Institutional Side of Private Markets29:59 Historical ...
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    54 m
  • Arcesium's Cesar Estrada - data silos and technology integrations in private markets

    Arcesium's Cesar Estrada - data silos and technology integrations in private markets
    May 22 2025
    Welcome back to the Alt Goes Mainstream podcast.Today we sit down with a technology and fund services veteran who has worked with many of the industry’s largest asset managers.Cesar Estrada is Private Markets Head at Arcesium, a global financial technology company delivering pre- and post-investment operations and enterprise data management solutions designed to systematize the most complex workflows.Arcesium was built from a platform developed and tested by investment and technology development firm, the D. E. Shaw Group, and launched as a joint venture with Blackstone Alternative Asset Management. J.P. Morgan, another large client, later made a strategic investment in the company, helping Arcesium further its mission: to power the entire investment lifecycle.Cesar is responsible for Arcesium’s data management and investment operations technology and services offered to private markets fund managers and investors. Previously, he served as Senior Managing Director and Alternatives Business Head for North America at State Street — a role in which he drove the growth agenda for a business with approximately $1 trillion in Assets Under Administration by leading new product launches, expansion into new client segments, strategic partnerships, and acquisitions. He served on the board of State Street Fund Services Inc. Prior to that, as a Managing Director at J.P. Morgan, Cesar led the Private Equity & Real Estate Funds Services business from launch to $350B AUA.Cesar and I had a fascinating conversation about the impact of technology and automation on private markets. We discussed:What private markets going mainstream means for pre- and post-investment operations.Why alternative asset managers need to have technology solutions to manage, track, and analyze data and workflows if they want to scale.The biggest challenges that alternative asset managers face as they handle the increase in data management, more funds, and more investors.What technology or workflow solutions are still missing.How much AI will impact technology workflows in private markets.Why ABF has become such an important part of the private credit ecosystem.Thanks Cesar for coming on the show to share your wisdom and experience in private markets.Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM’s podcasts.You can also see a recent Q&A with Cesar on AGM here.If you want to learn how Arcesium is delivering the technological infrastructure required to manage the complexities of asset-based financing, you can download their white paper here and read thoughts on the asset-based finance space from Arcesium’s Private Markets Head and industry veteran Cesar Estrada.Show Notes00:00 Introduction and Welcome to the Alt Goes Mainstream Podcast00:39 Guest Introduction: Cesar Estrada02:37 Cesar's Background02:57 Cesar's Career Path03:35 Evolution of Fund Services Industry04:49 Arcesium's Core Competencies05:06 Technology in Private Markets05:27 Arcesium's Joint Venture Origins06:12 Technology Architecture07:11 Client-Centric Ownership Model07:18 Building for the Biggest07:46 Solving Complex Problems08:44 Challenges and Solutions in Data Management10:28 Data Silos in Asset Management10:53 Roadblocks to Technology Adoption11:41 Operations and Technology Bottlenecks12:31 Strategic Imperatives for Growth14:20 Hiring and Strategy in Asset Management15:55 Point Solutions vs. End-to-End Solutions17:27 Role of the CTO18:21 Build vs. Buy Decision19:22 Investment Team's Understanding of Technology19:22 The Impact of AI and Future Innovations20:07 Technology's Leverage for Smaller Firms21:36 Consolidation in Private Markets22:22 Technology for Scaling Firms22:40 Flexibility in Private Markets23:05 Technology in Private Credit and ABF25:35 Volume Problem in ABF25:55 Data Ecosystem in ABF27:10 Wealth Channel and Evergreen Products28:04 Product Innovation in Private Markets28:45 Future of Private Markets30:05 Technology Selection Process30:51 User Experience in Technology31:40 Consumer Experience in Private Markets33:06 Hands-On Technology Evaluation33:42 Reducing Operational Headcount34:02 Gen AI in Asset Management35:33 Future Impact of Gen AI36:20 Marrying People and Technology37:01 Next Phase in Asset Management Technology39:16 Cesar's Personal Investment Views40:40 Conclusion and Final ThoughtsEditing and post-production work for this episode was provided by The Podcast Consultant.
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    41 m
  • Monthly Alts Pulse Ep. 16: Live from iCapital Connect - the technology perspective of model portfolios and UMAs with GeoWealth and iCapital

    Monthly Alts Pulse Ep. 16: Live from iCapital Connect - the technology perspective of model portfolios and UMAs with GeoWealth and iCapital
    May 21 2025

    Welcome to the 16th episode of the Monthly Alts Pulse, a collaboration between iCapital x Alt Goes Mainstream.

    We were live from iCapital Connect’s conference in Phoenix to announce a ground-breaking partnership in private markets: a collaboration between BlackRock, iCapital, and GeoWealth, where models that include both public and private markets exposure through a unified managed account (UMA) are now available to advisors.

    I sat down with Jack Hannah, the President & COO of GeoWealth, and Michael Doniger, SVP, Partnerships at iCapital, to discuss the technology and market structure innovation of the UMA and how private markets can play a role in model portfolios.

    In this live, unscripted episode, Jack, Michael, and I had a fascinating and lively discussion. We covered:

    • An introduction to the partnership between BlackRock, iCapital, and GeoWealth.
    • Incorporating private markets into UMAs.
    • The private markets integration workflow.
    • Customization and “sleeving” in UMAs.

    Thanks Jack and Michael for a great episode … looking forward to next month’s Monthly Alts Pulse conversation!

    Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM’s podcasts.

    Show Notes
    00:00 Introduction and Guest Welcome

    00:34 Evolution of UMAs in Private Markets

    01:03 Incorporating Alternatives into UMAs

    01:32 Private Markets Integration Workflow

    02:41 Challenges and Solutions in UMA Implementation

    03:32 Customization and Sleeving in UMAs

    04:32 Client-Centric Solutions and Advisor Needs

    05:21 Early Adoption of Private Market Solutions

    06:17 Building a Robust Model Marketplace

    08:37 Future of Model Portfolios and UMAs

    13:10 Post-Investment Processes and Technology

    14:17 Data Solutions and Performance Reporting

    15:06 Growth Projections for UMAs and Private Markets

    16:09 Conclusion and Final Thoughts

    16:12 Closing Remarks and Thank You
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    17 m
  • Goldman Sachs' Kyle Kniffen - standing on the shoulders of Goldman Sachs to be "a complete partner" for the wealth channel

    Goldman Sachs' Kyle Kniffen - standing on the shoulders of Goldman Sachs to be "a complete partner" for the wealth channel
    May 13 2025
    Welcome back to the Alt Goes Mainstream podcast.Today’s episode is with someone responsible for growing the footprint of one of the largest private markets businesses in the industry.We sat down at Goldman Sachs’ 200 West office with Kyle Kniffen to discuss the evolution of the firm’s work with the wealth channel and how an intensified focus on private markets is helping to drive the firm’s strategic imperatives in asset and wealth management.Kyle is a Managing Director, Global Head of Alternatives, Third Party Wealth, at Goldman Sachs, which has over $500B of AUM in private markets. He’s responsible for the distribution of both Goldman Sachs private markets products and third party products to the wealth channel.Kyle and I had a fascinating conversation about the most pressing trends and questions in private markets. We discussed:How lessons learned from traditional asset management have helped Goldman with its private markets business.The benefits of a broad platform when it comes to helping the wealth channel navigate private markets.Why advisors should integrate private markets solutions.How to build a wealth channel business.How to think about evergreen funds versus closed end funds.The next innovation in productization.Why co-investments are becoming more popular with the wealth channel.Are evergreen funds here to stay?Thanks Kyle for coming on the show to share your wisdom and expertise.Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM’s podcasts.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:42 Introduction to the Podcast and our Guest02:00 A message from our Sponsor, Ultimus Fund Solutions04:06 Kyle’s Background and Journey04:18 Wealth Channel Strategies and Insights05:06 Goldman's Heritage in Private Markets05:28 Client Demand for Thought Partnership06:13 Public Markets Perspective07:07 Consultative Sales Approach07:21 Lessons from Institutional Segment09:05 Quality of Investment Flow10:51 Serving the Third Party Wealth Channel12:53 Client Segmentation and Customization15:16 Global Reach and Relationship Building22:43 Product Innovation and Future Trends27:12 Balancing Client Needs in Alternative Investments27:47 Who Should Invest in Alternatives?28:36 Asset Liability and Liquidity in Investment Strategies29:28 Technology Innovations in Private Markets30:00 Exciting Progress in Alternative Strategies30:46 Transparency and Communication in Investments31:14 The Puzzle of Private Market Structures31:54 Post-Sale Transparency and Investor Experience33:27 Engaging Clients Through Brand and Marketing35:37 Customization in Wealth Management37:24 Educating Advisors on Private Markets37:47 Delivering Unique Insights and Education39:01 Goldman Sachs Investment University41:09 Lessons from ETFs and Mutual Funds41:54 The Importance of Performance and Education43:11 Tools for Advisors and Real-Life Applications44:06 Understanding Private Markets' Impact on Portfolios47:19 Excitement Around Private Equity Secondaries49:02 Advisors' Interests in Tax-Advantaged Strategies49:47 The Role of Liquidity in Private Markets50:35 The Importance of Scale in Private ...
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    53 m
  • Fortress Investment Group's Adam Bobker - Combining experience and innovation to build a wealth solutions business

    Fortress Investment Group's Adam Bobker - Combining experience and innovation to build a wealth solutions business
    May 9 2025
    Welcome back to the Alt Goes Mainstream podcast.Today’s episode is with a wealth channel veteran who has an innate and developed view of working with wealth.We sat down in the studio with Adam Bobker. Adam joined Fortress Investment Group in 2022 to build out their wealth business as Managing Director, Global Co-Head of Private Wealth Solutions. He oversees strategy, distribution, marketing, product development, and client management activities across Fortress’ investment programs.Prior to joining Fortress, Adam was a MD and Head of the Private Wealth Advisory Group at BlackRock, where he spent 22 years. He led a team focusing on private wealth management and institutional consultant channels, as well as business development for BlackRock’s hedge fund, private equity, private credit, and real asset platforms.Adam and I had a fascinating conversation about how to build a wealth solutions business. We discussed:The entrepreneurial nature of building a business for the wealth channel.Lessons that can be learned from other industries.Why selling into the wealth channel is like being a doctor.Why understanding the DNA of an asset management firm matters when building a wealth solutions business.What Adam looks for in a successful distribution professional and when building a distribution team.How to create scalability and leverage with a distribution team.How to structure products for the wealth channel.How to get into model portfolios.Thanks Adam for coming on the show to share your wisdom and expertise in private markets and wealth management.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM’s podcasts.Show Notes00:00 Introduction to our Sponsor, Ultimus Fund Solutions01:23 Podcast Theme Song02:01 Introduction to Today's Guest: Adam Bobker02:40 Building a Wealth Solutions Business03:40 The Importance of Client Relationships04:09 Understanding Client Needs05:10 Evolution of Wealth Management07:04 The Role of Education in Wealth Management07:14 Innovative Investment Structures08:22 Model Portfolios and Custom Solutions13:05 Strategic Partnerships in Wealth Management17:30 The Importance of Technology in Wealth Management18:18 Adam's Transition to Fortress18:36 Building a Wealth Business at Fortress19:00 Innovative Strategies at Fortress20:13 Focus Areas for Fortress Wealth Business21:22 Evergreen Structures in Wealth Management22:08 Advisor Psychology and Evergreen Structures23:57 Suitability of Strategies for Evergreen Funds25:14 Managing Evergreen Funds27:12 Opportunities in Real Estate Credit27:55 Investor Hesitation and Education28:03 Immediate Exposure with Semi-Liquid Funds28:33 Are Evergreen Structures Better for Investors?28:39 The Future of Investment Strategies28:57 Industry Flows and Semi-Liquid Funds29:20 Impact on Alternative Asset Management29:29 Consolidation and Strategy Expansion29:58 Focus on Whole Portfolio Delivery30:31 Building a Strong Team31:17 Consultative Sales Approach31:56 Effective Communication in Wealth Management32:58 Importance of Brand in Asset Management33:38 Client Experience and Technology ...
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    57 m
  • Constellation Wealth Capital's Karl Heckenberg - why there will be a $1T independent wealth management firm

    Constellation Wealth Capital's Karl Heckenberg - why there will be a $1T independent wealth management firm
    May 7 2025
    Welcome back to the Alt Goes Mainstream podcast.Today’s episode is with someone who is an expert on the RIA market and the wealth management business model.We talk with Karl Heckenberg, the President & Managing Partner of Constellation Wealth Capital, an investment firm that recently closed on a $1B debut fund dedicated to providing differentiated, long-term capital solutions to well-positioned independent wealth management firms in the $8T and growing wealth management sector.Karl’s deep experience in wealth management as both an investor, from his time as the CEO of Emigrant Partners and its affiliated company, Fiduciary Network, and time on the advisor side at Merrill Lynch, A.G. Edwards & Sons, Wells Fargo, and Charles Schwab, puts him in a position to understand the inner workings of wealth management businesses. He’s also sat on the boards of Sarasota Private Trust Company, New York Private Trust Company, and Cleveland Private Trust Company, and is currently on the board at Alternative Fund Advisors.CWC has made investments into some of the industry’s leading wealth management firms, including AlTi Global, Cresset Partners, AlphaCore, Lido, and others.Karl and I had a fascinating conversation about the evolution of the wealth management industry and why it’s become such an attractive investment opportunity. We discussed: The intricacies of business growth and serving clients.Why private markets are such a critical component to differentiating a wealth management firm.Why we’ll see a $1T independent wealth management business in the coming years.The parallels between the business evolution of alternative asset managers and wealth managers.Thanks Karl for coming on the show to share your wisdom and expertise at the intersection of wealth management and private markets.Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM’s podcasts.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Introduction to our Sponsor, Ultimus Fund Solutions01:18 Podcast Opening Theme01:57 Introduction to Today's Guest: Karl Heckenberg03:57 Karl Heckenberg's Background and Career Journey06:10 Early Days of Wealth Management07:41 Post-GFC Evolution of RIAs08:59 Understanding the Independent Wealth Management Space10:15 Growth and Scale in Wealth Management12:17 Challenges and Opportunities in Wealth Management15:02 Importance of Client Experience19:34 Investment Strategies in Wealth Management20:07 Ownership and Equity Distribution20:54 Minority vs. Control Investments23:08 M&A in Wealth Management23:23 High-Quality Firms and Client Experience23:59 Capital Needs and Growth24:55 Advisory Services and Value Addition25:32 Comparisons with GP Stakes27:39 Durability and Resilience of Wealth Management Firms29:08 Exit Strategies and Public Market Potential29:40 Valuations and Capital Providers31:46 Future of Public Market Exits34:24 Compounding Growth and Returns35:05 Distribution and Liquidity35:34 Investment Grade Assets and Equity Returns35:47 Answering Key Investment Questions36:38 Investor Concerns and Market Dynamics36:59 Investment Buckets and Flexibility37:25 Private Wealth vs ...
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    1 h y 7 m
  • Monthly Alts Pulse Ep. 15: Live from iCapital Connect - announcing the BlackRock, iCapital, GeoWealth unified managed account partnership

    Monthly Alts Pulse Ep. 15: Live from iCapital Connect - announcing the BlackRock, iCapital, GeoWealth unified managed account partnership
    May 2 2025

    Welcome to the 15th episode of the Monthly Alts Pulse, a collaboration between iCapital x Alt Goes Mainstream.

    We were live from iCapital Connect’s conference in Phoenix to announce a ground-breaking partnership in private markets: a collaboration between BlackRock, iCapital, and GeoWealth, where models that include both public and private markets exposure through a unified managed account (UMA) are now available to advisors.

    I sat down with Lawrence Calcano, the Chairman & CEO of iCapital and Jaime Magyera, Managing Director, Co-Head of US Wealth Business, Senior Sponsor for Retirement Business, BlackRock, to discuss the details on their partnership and why a UMA that integrates both public and private market investments for wealth advisors is the next phase of adoption of private markets by the wealth channel.

    In this live, unscripted episode, Lawrence, Jaime, and I had a fascinating and lively discussion. We covered:

    • An introduction to the partnership between BlackRock, iCapital, and GeoWealth.
    • Current challenges advisors face when allocating to private markets.
    • Why customization and scalability matters.
    • The market structure evolution.
    • The future of public-private models.

    Thanks Lawrence and Jaime for a great episode … looking forward to next month’s Monthly Alts Pulse conversation!
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    15 m
  • EQT's Peter Aliprantis - bringing EQT's success to the US wealth market

    EQT's Peter Aliprantis - bringing EQT's success to the US wealth market
    Apr 30 2025
    Welcome back to the Alt Goes Mainstream podcast.Today’s episode is with a private markets veteran who has been working in the wealth channel before it was considered "the wealth channel."We sat down in the studio with Peter Aliprantis. Peter joined EQT in October 2024 as a Partner and Head of Private Wealth Americas. He’s hit the ground running to build out a wealth team in the Americas and help continue to grow the EQT brand in the US.Peter brings a wealth of knowledge to the private wealth solutions world, garnering over 25 years of experience in the space. Prior to joining EQT, Peter spent 12 years at TPG Angelo Gordon as a Managing Director, where he focused on new business development and intermediary distribution.Peter and I had a fascinating conversation about everything from the early days of the wealth channel to the evolution of product innovation in private markets. We discussed:What working in the wealth channel was like before it was called “the wealth channel.”How to build a new brand in a different geography.How not being the loudest voice in the room can be effective when working with the wealth channel.How education helps to serve distribution efforts and how an innovative and unique approach to education with EQT’s ThinQ platform has helped build brand, trust, and credibility.Why institutions are also beneficiaries of the innovation with evergreen structures that were initially designed for the wealth channel.How product innovation will continue in the wealth channel.How model portfolios will evolve.Thanks Peter for coming on the show to share your wisdom and expertise.Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM’s podcasts.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Introduction and Message from our Sponsor, Ultimus01:57 Welcome to the Podcast02:05 Introducing Peter Aliprantis02:20 Peter's Career Background03:31 Early Days in Private Wealth04:25 Changes in Wealth Distribution05:55 Post-Financial Crisis Shifts06:37 Growth of the Wealth Channel07:14 Building a Wealth Business at Angelo Gordon07:59 Convincing Firms to Invest in Wealth08:59 Importance of Investment Teams10:18 Key Skills for Wealth Channel Success12:46 Joining EQT and Brand Building13:07 Building EQT's Wealth Platform14:56 Brand Building in the Wealth Channel15:32 Expanding EQT's Presence16:10 Strategies for Engaging the Wealth Channel16:45 Segmenting the Wealth Channel19:57 Challenges in RIA Relationships20:28 Importance of Relationship Building21:25 Bespoke Products for Wealth Channel22:10 Institutional vs. Wealth Channel Products22:56 Evergreen Structures for Institutions23:20 Future Trends in Wealth Management23:27 Becoming a Solutions Provider in the RIA Channel23:47 Creating Model Portfolios25:31 The Future of Wealth Management27:04 Challenges for Smaller Firms27:38 Importance of Shelf Space28:35 Sales Strategies in Private Banks29:42 The Role of Scale in Wealth Channels30:27 Balancing Growth and Performance31:07 Global Investment Strategies and Performance33:13 Building a Brand in the U.S. Wealth Channel34:29 Differentiating in the Wealth Channel36:43 Advisory ...
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    48 m
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