Podcasts about icapital

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Tertulia geopolítica con Guillermo Santos, socio director de iCapital e Íñigo Petit, CEO de iDenGlobal. Seguimos mirando en profundidad las noticias más destacadas en clave internacional y por último, análisis de mercado con Marc Ribes, cofundador de Blackbird.

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Tertulia geopolítica con Guillermo Santos, socio director de iCapital y Moisés Ruiz, profesor en la universidad europea y experto en liderazgo y comunicación. Seguimos mirando en profundidad las noticias más destacadas en clave internacional y por último, Gestión del Patrimonio con Ismael Pérez, director de Inversiones de Grupo Seneas.

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Analizamos tertulia geopolítica con Guillermo Santos, socio director de iCapital y Moisés Ruiz, profesor en la universidad europea y experto en liderazgo y comunicación. Profundizamos en clave internacional y hacemos análisis con Joaquín Robles, analista de Banco BiG.

Kurt Nye, managing partner and CIO at MAI Capital Management, joins the program to discuss the firm's decision to partner with iCapital and give its in-house investment team a streamlined way to view, manage and administer clients' alternative investments. (05/2025)

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Hacemos tertulia geopolítica con Guillermo Santos, socio director de iCapital y Moisés Ruiz, profesor en la universidad europea y experto en liderazgo y comunicación. Seguimos profundizando en mercados y en las noticias globales más destacadas y por último, analizamos mercados con Javier Etcheverry, inversor profesional y analista de mercados.

In this episode of Retire with Style, Wade Pfau and Alex Murguia explore the world of alternative investments, with a focus on private equity and private credit. They discuss what it means to be an accredited investor, the different types of private equity investments, and the typical life cycle and structure of private equity funds—including the roles of general and limited partners. The conversation also covers key risks, such as liquidity constraints and valuation challenges, and explains how private investments can fit into a broader retirement income strategy. Wade and Alex highlight the growing accessibility of these investments for retail investors, the rise of private credit markets, and the relationship between volatility and expected returns—underscoring the importance of understanding risk when evaluating investment decisions. Listen now to learn more!   Takeaways:  Private Equity Private equity involves investing in private companies rather than publicly traded stocks. The main types of private equity are venture capital, growth equity, and buyouts. These funds typically follow a seven- to eight-year life cycle and are structured with general partners (who manage the fund) and limited partners (who provide capital). Carried interest is a key component of compensation for general partners. Liquidity is a major concern—investments are often locked up for long periods. Valuing private companies is often opaque and can mislead investors. In venture capital, most returns come from a small number of successful investments. Private equity can provide diversification benefits in a broader portfolio. Private Credit Private credit focuses on lending, often to individuals or private firms, and is distinct from private equity. These investments are gaining popularity, driven by institutional demand and the search for yield. Platforms like iCapital are increasing access for individual investors. Private credit can offer higher yields than traditional fixed income but also comes with unique risks. Investment Strategy and Risk Alternative investments are growing in popularity, especially among individual investors. Risk and return must be evaluated together—volatility alone does not guarantee higher returns. Effective portfolio construction requires understanding how different asset classes interact. Investors should avoid diversifying blindly and instead understand the specific risks of each investment.  Chapters 00:00 Introduction to Alternative Investments 04:25 Understanding Private Equity 10:27 Types of Private Equity Investments 18:52 The Private Equity Life Cycle 26:36 Structure and Function of Private Equity Funds 28:08 Risks and Considerations in Private Equity 29:15 The Illusion of Valuations 31:43 Democratization of Investment Access 32:12 Understanding Private Credit 35:33 The Growth of Private Credit Markets 41:03 Integrating Private Credit into Portfolios 45:17 Volatility and Expected Returns   Links Curious about alternative investments but not sure where to start? Join Alex Murguia for the latest Retirement Researcher Academy Workshop: Know Before You Invest: Understanding Alternative Investments and get the clarity you need: https://retirement-researcher.ontralink.com/tl/538   Explore the New RetireWithStyle.com! We've launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there's something you've been wondering about retirement, we want to hear it!   Join Us Live on YouTube – June 2nd at 2PM ET! Want to go beyond the podcast and be part of the conversation in real time? Wade and Alex will be hosting a special Retire With Style YouTube Live session, where you can ask your retirement questions and get answers on the spot.   Head over to our YouTube channel now, hit Subscribe, and click the bell to get notified when we go live. We'll see you there! https://www.youtube.com/@retirewithstylepodcast   The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/   This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean's free eBook, “Retirement Income Planning”

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 Notes00:00 Introduction and Guest Welcome00:34 Evolution of UMAs in Private Markets01:03 Incorporating Alternatives into UMAs01:32 Private Markets Integration Workflow02:41 Challenges and Solutions in UMA Implementation03:32 Customization and Sleeving in UMAs04:32 Client-Centric Solutions and Advisor Needs05:21 Early Adoption of Private Market Solutions06:17 Building a Robust Model Marketplace08:37 Future of Model Portfolios and UMAs13:10 Post-Investment Processes and Technology14:17 Data Solutions and Performance Reporting15:06 Growth Projections for UMAs and Private Markets16:09 Conclusion and Final Thoughts16:12 Closing Remarks and Thank You

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Tertulia geopolítica con Guillermo Santos, socio director de iCapital y Moisés Ruiz, profesor en la universidad europea y experto en liderazgo y comunicación . Profundizamos en clave internacional y hacemos repaso de mercados. Por último, analizamos mercados con Joaquín Robles, analista independiente.

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Analizamos tertulia geopolítica con Guillermo Santos, socio director de iCapital y Íñigo Petit, CEO de iDenGlobal. Profundizamos en clave internacional y hacemos Gestión del Patrimonio con Ismael Pérez, director de inversiones del Grupo Seneas.

Nick Parcharidis reflects on his 30-year journey through structured products and private wealth, starting at the American Stock Exchange and later launching global businesses at Citigroup. He shares insights on the growth of alternatives, platform innovation at iCapital, and adapting to client needs across the U.S., LATAM, and Europe, highlighting the role of education, technology, and clear portfolio integration.

A pesar del descenso desde máximos y del cacareado fin del excepcionalismo, la bolsa de EEUU sigue muy por encima de su media histórica. ¿Cómo lo ven los gestores? ¿Cómo están moviendo sus carteras? Lo analizamos en un nuevo episodio de Finect Alpha con Ion Zulueta, de iCapital, y Antonio González, de Renta 4 en un nuevo episodio de Finect Alpha. Este episodio está patrocinado por Schroders, una gestora líder con más de 200 años de experiencia, dedicada a ayudar a los inversores a alcanzar sus objetivos financieros a largo plazo, mediante soluciones de inversión activa en los mercados públicos y privados. ¡EMPEZAMOS! Aquí os dejamos los podcasts que comentamos en este episodio: 🔗 https://open.spotify.com/show/1Q9NAHUz3Lri60ceqcxdVC 🔗https://open.spotify.com/episode/2aiVOOBSVJXJMS4HGWkkzo 🔗 https://open.spotify.com/episode/1gZoBVx9GyuM06U4iR6Fqu

Michael Sidgmore is the Co-Founder of Broadhaven Ventures and the creator of the Alt Goes Mainstream podcast, which explores the intersection of private markets, technology, and wealth management. His career spans early roles at Goldman Sachs and iCapital, experience building businesses in fintech and asset management, and investing across the private market ecosystem. Our conversation offers an in-depth introduction to the intersection of private markets and private wealth. We discuss the origins of Alt Goes Mainstream, the rapid evolution of private markets, the convergence of institutional and wealth channels, and the rise of evergreen structures and new distribution models. We close with Michael's perspective on how the wave of capital flowing into private markets from private wealth will impact investors, and on the importance of content, brand, and community in shaping the industry's future. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

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!

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Seguimos con tertulia geopolítica en la que nos acompañan Eduardo Irastorza, profesor de OBS Business School y Guillermo Santos, socio director de iCapital. Sin dejar de lado los mercados y la última hora, contamos en profundidad aspectos importantes del área internacional y por último, analizamos Wall Street con Enrique Zamácola, analista independiente.

Stocks closed well off worst levels, but the rout in April continues. A deepening market selloff takes center stage with Anastasia Amoroso of iCapital and Sameer Samana of Wells Fargo breaking down pressure points across sectors. Our Deirdre Bosa reports on the unraveling of AI optimism. Morgan Stanley's Seth Carpenter weighs in on Trump vs. Powell tensions and macro dynamics, while Citi's Scott Chronert discusses the implications of today's sharp drop—and the situation he says you should be buying right now. Technical analysis from Katie Stockton provides levels to watch, and Steve Kovach covers Apple's decline on renewed China and tariff concerns. Earnings from Zions Bancorp and Western Alliance with Baird's David George.

Guy Adami and Anastasia Amoroso, Managing Director and Chief Investment Strategist at iCapital, discuss the current state of the markets and the impact of persistent volatility. They cover the effects of rising tariffs, shifting Fed policies, and how investors can navigate uncertainty by balancing defensive positions with long-term opportunities. Anastasia shares insights on sector resilience, the outlook for banks, and the evolving role of trade deals in shaping market sentiment. They also explore the future of U.S. manufacturing, the labor market, and the global shift in supply chains. — FOLLOW US YouTube: @RiskReversalMedia Instagram: @riskreversalmedia Twitter: @RiskReversal LinkedIn: RiskReversal Media

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Seguimos con tertulia geopolítica en la que nos acompañan Adrià Alsina, profesor de Economía y Comunicación en Swiss Business School y Guillermo Santos, socio director de iCapital. Sin dejar de lado los mercados y la última hora, contamos en profundidad aspectos importantes del área internacional y por último, analizamos Wall Street con Juan Ignacio Marrón, analista independiente y fundador de Inversores Institucionales.

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Seguimos con nuestra tertulia geopolítica, escuchando a Guillermo Santos, socio director de iCapital, y a Moisés Ruiz, profesor en la universidad europea y experto en liderazgo y comunicación. Después, Estefanía Muniz nos habla sobre el posible acuerdo nuclear entre Irán y Estados Unidos. Terminamos el programa de hoy analizando mercados con Víctor Galán, cofundador de planetabolsa.com.

En La tertulia de Capital Intereconomía comentamos la actualidad de los mercados financieros con David Sánchez, Responsable de Selección de Fondos y Gestión de Fondos de Fondos en Santalucía AM; Diego Rueda Moltó, Responsable de gestión de fondos de fondos y selección de fondos. Unigest y con Ana María Expósito, Analista de inversiones y selección de fondos en iCapital. y Alexis Ortega, Asesor independiente nos explica las principales referencias a tener en cuenta en la sesión de hoy.

Tras el desplome del viernes, las Bolsas comienzan la semana con la vista puesta en las tensiones comerciales desatadas por el anuncio arancelario de Donald Trump. La incertidumbre sobre el crecimiento global, el posible repunte de la inflación y el impacto sobre la hoja de ruta de los bancos centrales centran la atención de los inversores que esta semana estarán pendientes además de referencias como el IPC marzo en EEUU, las actas de la Reserva Federal, y el comienzo de la temperada de resultados en EEUU con las cuentas de JPMorgan, Morgan Stanley o Wells Fargo. En la Tertulia de Mercados de Capital Intereconomía, David Sánchez (Santalucía AM), Diego Rueda Moltó (Unigest), Antonio González (Renta 4 Banco) y Ana María Expósito (iCapital) analizan el impacto de los aranceles en el mercado y debaten sobre si es momento de revisar el asset allocation, adoptar una postura más neutral o ajustar la exposición al riesgo.

What will Trump's Tariffs and now escalated trade war mean for stocks in the months ahead? Tech is at the forefront of that question as names like Nvidia get smashed today. And it's not often you see a decline like this for Apple shares. We discuss with Erik Woodring from Morgan Stanley. Plus, our all-star panel of iCapital's Anastasia Amoroso, Hightower's Stephanie Link and Requisite Capital weigh in on some massive sector moves. And, Trivariate's Adam Parker tells us how he is navigating today's big drop. 

In this episode, Bill welcomes Fernando De Leon, founder of Leon Capital Group, to explore the intricacies of private capital, real estate investments, and long-term wealth creation. Fernando shares his unique upbringing along the U.S.-Mexico border and how it shaped his approach to business and investment strategy. He discusses his early career at Goldman Sachs, his transition into entrepreneurship, and how he successfully navigated the financial crisis to build a diversified, multi-sector investment firm. The conversation highlights Leon Capital's evolution from special situations investing to an operator-led model spanning real estate, healthcare, and financial services. Fernando offers insights into his approach to patient capital, the role of alternative investments, and the importance of adapting to market inefficiencies. He also discusses the firm's recent expansion into fund management via iCapital, as well as the role of technology and data analytics in shaping investment decisions. The episode concludes with a deep dive into Leon Capital's scholarship program, emphasizing the importance of investing in future generations and staying connected to evolving trends in business and technology.

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Seguimos con nuestra tertulia geopolítica, escuchando a Guillermo Santos, socio director de iCapital, y Gonzalo Gómez de la Calle, consultor en NTT Data y profesor de economía en la Universidad Pontificia de Comillas. A continuación, Estefanía Muniz nos habla de la visita de Netanyahu y su conversación con Víxtor Orbán. Terminamos el programa de hoy con Joaquín Robles, analista en Banco BiG, analizando Wall Street.

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Seguimos con la tertulia geopolítica, escuchando a Guillermo Santos, socio director de iCapital, y a Miguel Ángel Temprano, gestor independiente. A continuación, Estefanía Muniz nos habla de las críticas vertidas sobre Kaja Kallas, vicepresidenta de la Comisión Europea. Terminamos el programa de hoy analizando bolsa y mercados con Antonio Castelo, analista de iBroker.

En la segunda hora de Visión Global, repasamos la actualidad internacional del momento con las últimas horas que nos llegan desde el área geopolítico. Tertulia con Miguel Villarejo, corresponsal económico en The Objective y Guillermo Santos, socio director de iCapital. Por último, atendemos al cierre del mercado y analizamos el dato de IPC de EEUU con Alexis Ortega, analista independiente.

Welcome back to the Alt Goes Mainstream podcast.Today's episode features an industry titan who has been on the forefront of the intersection of alts and wealth.We talk with Stephanie Drescher, Partner, Chief Client and Product Development Officer at Apollo and a member of the firm's Leadership Team. She oversees the Client and Product Solutions Group (CPS), which includes Apollo's Global Wealth Management Solutions, Institutional Sales, and Global Product teams. She is also involved with Apollo's strategic investments in private markets, as a Board Observer at iCapital and a Board Member at Vega.Stephanie is responsible for leading Apollo's global wealth buildout, which is one of the firm's strategic priorities. They've invested heavily in educational resources and have built out a specialized team to work with the wealth channel. Apollo has set a goal of achieving $150B from its global wealth business by 2029 and, in 2024, under Stephanie's leadership the global wealth business exceeded the total capital raised in 2023 from the wealth channel.Before joining Apollo in 2004, Stephanie was with JP Morgan for 10 years, working primarily in its Alternative Investment Group.Stephanie and I had a fascinating conversation about how to build and scale a business in the wealth channel. We discussed:What is safe and what is risky?How can investors approach asset allocation and portfolio construction?How working with institutional investors has influenced and helped Stephanie think through how to work with investors in the wealth channel.The anatomy of building a wealth business.How critical is brand building when working with the wealth channel?Thanks Stephanie for coming on the show to share your wisdom and expertise on private markets and work with the wealth channel.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, Ultimus Fund Solutions01:55 Welcome Back to Alt Goes Mainstream02:04 Introducing Stephanie Drescher03:55 Stephanie's Journey at Apollo04:14 Focus on Institutional Clients04:43 Strategic Focus on Wealth Channels05:05 Learning from Different LPs05:27 Early Days at J.P. Morgan08:04 Importance of Communication08:17 Transparency and Client Centric Approach08:56 Educational Initiatives at Apollo10:07 Apollo Academy Engagement10:42 Content Creation Strategy11:37 Combining Short and Long Form Content11:43 Direct Client Communication12:00 Distribution and Marketing12:26 Client Centric Approach13:06 Creating a Narrative for Private Markets13:40 Defining Private Markets14:34 Public vs. Private Markets15:50 Changing Definitions in Private Markets16:18 Impact of 2022 on Public Markets17:02 Concentration in Public Markets17:41 Benefits of Private Markets18:17 Helping Clients Understand Private Markets18:44 Developing Accessible Solutions19:45 Client Focused Solutions19:51 Balancing Client Needs and Market Nuances20:15 Apollo's Origination Capability22:12 Athene's Role in Apollo's Strategy24:26 Tax Efficiency in Private Markets25:39 Wealth Channel vs. Institutional Investors25:48 Solving for Tax Challenges25:53 Listening to Client Needs27:31 Avoiding K1s and Capital Costs28:17 Process and Adoption of Private Markets29:07 Investing in Technology30:08 Insights from Technology Investments31:06 Shared Industry Solutions32:02 Digital Outreach and Thought Leadership32:38 Apollo's Brand and Public Presence33:02 B2B2C Relationships33:10 Building Apollo's Brand33:50 Communicating Apollo's Value Proposition34:04 Reaching the End Client35:39 Media Presence and Brand Awareness36:59 Tangible Impact of Private Credit37:35 Evolution of Private Credit38:14 Role of Asset Backed Credit38:46 Alternative Asset Managers in Financial Markets39:18 Partnerships and Convergence39:48 Discretionary Allocations40:11 401(k) Business and Retirement Goals41:18 Focus on Net Return41:52 Provocative Questions on Liquidity43:00 Consistency of Messaging43:26 Innovative Parts of Apollo's Business43:49 Changing Definitions of Alternatives45:23 Phases of Adoption in Wealth Channel47:00 Strategic Focus on Partnerships52:39 Balancing Scale and Customization53:26 Personal Reflections and Future Investments54:48 Conclusion and Farewell

Jon and Morgan lead a packed hour, covering today's major selling from every angle. A market panel with Wells Fargo's Sameer Samana and iCapital's Anastasia Amoroso to break down the day's action. Goldman Sachs' Greg Tuorto weighs in on small caps, while former Tesla President Jon McNeill discusses Tesla, tariffs, and EV policy. Later, Wedbush's Dan Ives hits the sharp turn lower in Nvidia and what to do with Apple. Morgan hits a bright spot in the market: European defense stocks. 

En la segunda hora del programa de hoy, repasamos las claves internacionales más importantes del día. Seguimos con la tertulia geopolítica, escuchando a Moisés Ruiz, profesor en la universidad europea y experto en liderazgo y comunicación, y a Guillermo Santos, socio director de iCapital. Además, Estefanía Muniz nos cuenta cómo funcionan las Gold Cards, dedicadas a los inmigrantes que quieran vivir en el país. Terminamos analizando Wall Street con Ramón Fernández, consultor senior en WealthLink Digital Capital.

The Fed no doubt grappling with whether it should cut or not. The Wall Street Journal's Nick Timiraos tells us what's at stake in tomorrow's CPI report. Plus, iCapital's Anastasia Amoroso and JP Morgan Asset Management's Jack Manley tells us what they think the tariffs could mean for the markets and your money. And, we break down the latest in the tech space amid the ongoing drama between Elon Musk and Sam Altman – as well as Apple's potential new partnership. 

Hosts Brad Wright and Mike Connaughton are joined by James Costabile and Ryan Van Geons of iCapital. James Costabile is Managing Director and Head of US Alternative Investment Distribution and Ryan Van Geons is a Senior Vice President, who covers our New England area for iCapital. Their team delivers alternative investment education, research viewpoints, and investment capabilities across hedge funds, private equity, private credit, and real estate strategies. iCapital is an Alternatives platform for financial advisors. iCapital was founded in 2013 with the goal of making high-quality alternative investments accessible to wealth advisors and their high- net-worth investors and enabling fund managers to reach new sources of capital. They discuss: - How advisors can access the iCapital platform and gain access to over 200 private equity and private credit opportunities -Advisor education in the alternative space -How the platform and alternatives, in general, fit into the investment ecosystem For more on iCapital: https://icapital.com/

Welcome to the 14th episode of the Monthly Alts Pulse, a collaboration between iCapital x Alt Goes Mainstream. Here's the latest episode of the Monthly Alts Pulse, a live conversation in studio with Lawrence Calcano, the Chairman & CEO of iCapital. As the leader of a platform with over $200B of assets that is responsible for the majority of individual and advisor-led investment flows into the alts space, Lawrence and iCapital have their finger on the pulse of what's happening in private markets.On this episode, Lawrence and I had a fascinating and lively discussion. We covered:Has private markets moved from access as table stakes to customization and differentiation?What are the different phases of private markets — and how has iCapital built solutions for each?Is data the oil for private markets?How will model portfolios fit into the wealth channel's adoption of private markets?If advisors now have access to private markets, how do they differentiate?How does the trend of OCIOs being acquired by wealth managers factor into the continued evolution of wealth channel adoption of private markets?The nuances of diligence on fund managers.Why do private markets “start and stop at the advisor's desktop?”What's the interplay between brand, access, and customization?Thanks Lawrence for a great episode … looking forward to next month's conversation!Show Notes00:00 Introduction00:23 Trends in Wealth Management: Customization and Differentiation00:46 The Evolution of Private Markets Access01:28 Building Bespoke Programs for Advisors01:50 The Importance of Better Fit for Clients02:26 Infrastructure and Customization in Wealth Channels02:39 Phases of Evolution in Wealth Management03:29 Expanding Product Access and Automation03:49 Creating an Operating System for Wealth Management04:30 The Role of Model Portfolios04:56 The Role of Technology and Tools in Customization05:21 Differentiation Through Custom Solutions06:17 Understanding Customization in Wealth Markets07:11 The Role of Diligence in Wealth Management09:40 Reconciling Efficiency and Thoughtful Allocation09:59 Advisors' Role in Customization and Differentiation10:08 The Advisor's Role in Client Education11:01 The Future of Secondary Markets and Evergreen Products12:07 Tools for Advisors: Information and Fit14:57 The Importance of Education and Technology16:17 Product Innovation and Customization19:23 Conclusion: Balancing Tensions in Wealth Management

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 Notes00:00 Introduction: Setting the Stage00:17 Early Days in the Evergreen Space00:33 Stephanie's Journey into Private Wealth00:40 From Merrill Lynch to Hamilton Lane01:15 The Evolution of Alternative Investments02:09 Success in Early Evergreen Structures02:23 Challenges and Innovations in Distribution03:01 Nick's Perspective on the Evergreen Space03:20 Hamilton Lane's Thought Leadership03:50 The Importance of Private Companies04:29 The Evolution of Evergreen Funds05:11 Optimal Structures for Evergreen Funds05:35 Target Audience and Distribution Strategies06:25 Commitment to Evergreen Structures06:50 Multi-Manager Approach and Diversification07:18 Adoption of Private Capital by Advisors07:49 The Role of Private Equity in Evergreen Funds08:50 The Importance of Fee Efficiency09:45 Educating Investors on Evergreen Structures15:00 The Power of Compounding in Evergreen Funds16:02 Institutional Interest in Evergreen Funds21:54 The Role of Liquidity in Evergreen Investments22:28 Educating Advisors and Clients25:48 Challenges in Advisor Education28:14 Allocation Strategies for Evergreen Funds31:22 The Future of Evergreen Structures31:36 3.0 in the Evergreen Space34:07 Manager Selection in Private Markets35:18 The Evolving Relationship of Public and Private Markets36:03 Closing Thoughts and Key Takeaways36:33 Disclaimer and Informational Purposes

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 second episode of the series as Nick and I talk with KKR's Doug Krupa.Show Notes00:23 Doug's Background in Private Markets01:18 Early Career as a Financial Advisor01:55 Understanding Overfunded Pensions02:47 Focus on Making Private Markets Accessible03:12 Building Innovative Solutions at KKR03:25 Evolution of Wealth and Asset Management03:55 Challenges in Private Markets05:05 Partnering with KKR05:55 KKR's Commitment to the Wealth Channel06:04 Innovations in Fund Structures06:59 The Conglomerate Model07:15 KKR's Approach to Wealth Channel07:46 Expanding Access to Private Markets08:34 Delivering the Same Investment Experience09:36 Maslow's Hierarchy of Needs for Wealth Channel09:59 Legislation and Access to Private Markets12:56 Evergreen Structures vs. Conglomerate Model17:37 Investor Behavior in Evergreen Structures18:12 Adoption of Evergreen Strategies21:24 Educating the Industry on Evergreen22:55 The Shift from Public to Private Markets24:00 KKR's Educational Initiatives26:06 Rebranding Alternatives as Private Markets28:53 Partnerships and Hybrid Solutions29:04 Market Structure Evolutions31:11 Future of Private Markets32:32 Dominant Players in Private Markets34:18 Rapid Adoption of Evergreen Strategies34:59 Disruption in the Industry35:18 Final Thoughts on Private Markets38:58 Closing Remarks39:06 Disclaimer and Legal Information40:55 Copyright Information

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 first episode of the series as Nick and I talk with Vista Equity Partners' Dan Parant. Show Notes00:19 Welcome and Guest Introduction00:39 Vista's Founding and Early Days02:05 Vista's Growth and Achievements03:11 Dan's Background and Role at Vista04:07 Enterprise Software Investment Thesis05:11 The Resilience of Enterprise Software07:11 The Private Market Advantage07:25 Constructing Portfolios for Wealth Channels08:13 The Shift from Public to Private Markets09:52 Evergreen Funds and Their Benefits11:06 Evergreen Strategies in Software Investing12:01 Advantages of Evergreen Structures13:09 The Role of Private Equity in Evergreen Funds13:17 Private Companies Staying Private Longer 19:25 Vista's Approach to Different Company Sizes20:28 Growth vs. Yield in Evergreen Strategies21:11 The Importance of Scale in Evergreen Funds24:24 Challenges of Managing Evergreen Structures26:12 The Discipline of Manager Selection28:41 Educating Investors on Evergreen Structures30:08 Omnichannel Education Strategies31:04 Product-Specific Education32:00 Understanding Liquidity in Evergreen Funds33:37 Structuring Liquidity Parameters36:17 The Future of Evergreen Strategies39:45 Closing Remarks and Final Thoughts40:17 Legal & Compliance Information

Welcome back to the Alt Goes Mainstream podcast.Today's guest is an expert in financial services and capital markets who has experience as both a strategic investor and a VC.We welcome Rana Yared, a General Partner at Balderton, where she co-leads their Growth Fund. She came to Balderton in 2020 from across the pond, where she was a Partner at Goldman Sachs, first in the Principal Strategic Investments Group, a balance sheet investing team, and later in GS Growth, when the group became part of the GS Growth efforts that began to take in outside LP capital. At Goldman, Rana oversaw investments in Financial Technology and Enterprise Technology as well as the commercialization of Goldman's technology assets in both NYC and London. She represented Goldman on the boards of Tradeweb, NAV, Vestwell, New York Shipping Exchange, and Swapclear @ LCH. She currently serves on the board of Tradeweb in an independent capacity.Coming off of a fundraise of $1.3B in new capital across early and growth stage funds at Balderton, Rana and I discussed what LPs were interested in and why Europe is a compelling investment ecosystem. We had a fascinating discussion about:Revolutionary and evolutionary innovations in financial services and private markets, including the likes of iCapital, Tradeweb, Revolut.Why global tech companies can be built in Europe, with Revolut, a Balderton portfolio company, as an example.Why London and Europe are compelling fintech and financial services ecosystems.How LPs should look at the European investment opportunity.Differences and benefits / drawbacks of being a strategic / permanent capital investor versus being an independent VC fund.The importance of being a risk manager in venture.Thanks Rana for coming on the show to share your wisdom and views on Europe, venture, and private markets. We hope you enjoy.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 Ultimus Sponsor Message01:59 Introducing Balderton Capital Partner, Rana Yared04:16 Rana's Journey from Goldman Sachs to Balderton04:25 Transition from Investment Banking to VC06:26 Insights on Financial Services and Market Structure06:37 Investing in Market Structure09:05 Disruptive vs. Evolutionary Innovations in Fintech12:53 Partnering with Incumbents14:31 The Importance of Durability and Product Velocity18:11 Strategic Investing vs. Venture Capital21:21 Investing in the European Ecosystem27:06 The Exciting Potential of Revolut and European FinTech27:21 FinTech Giants in Germany27:54 European Companies' International Advantage28:55 Investor's Perspective on European Expansion29:48 The Role of Venture Capital in Europe29:22 Challenges and Strategies for European Investors30:20 The Importance of Local Presence30:55 The Future of European Ecosystems31:28 US VCs Entering Europe32:15 Bridging the Talent Gap34:02 Mentorship and Expertise35:52 The Role of LPs and European Investment Opportunities37:23 Challenges for European Pensions and Endowments38:49 Innovations in Fund Structures41:27 The Impact of Governmental Participation in Venture42:22 Exciting Opportunities in European Venture43:10 FinTech's Massive Potential43:59 Europe's Unique Financial Services Advantages44:53 Geopolitical Concerns for Investors45:51 Lessons from War Studies Applied to Investing47:11 The Future of Retirement Investments in Europe49:13 The Importance of Patience in Investing

In this episode of the Dakota Fundraising News Podcast, Pat and Konch highlight recent job changes, including Michael Ardill joining Hymans Robertson, Bethan Brown joining Howard Hughes Medical Institute, and Michael Brand being appointed Co-head of Real Assets at Aksia. In RIA/FA M&A updates, LPL Financial recruits a $540M team from US Bank in San Diego, UBS hires Ryan Lurie to lead its Arizona wealth management team, and Wedbush expands its Philadelphia office with the McCall Connelly Group. Institutional coverage includes updates on the Davie Police Pension Plan hiring Loomis Sayles as its core fixed income manager, upcoming manager searches for the Teachers Retirement System of Louisiana, and significant commitments from plans like Maine Public Employees' Retirement System and Border to Coast. Fundraising highlights feature Pearlmark's second close on its $300M+ Mezzanine VI fund, CION and GCM Grosvenor's launch of a $300M infrastructure fund, and Prospect Capital's partnership with iCapital to boost access to its closed-end funds and BDCs. Tune in for these updates and more from the world of institutional and wealth management. 

What could the election's result mean for this bull run? Our all-star panel of New York Life Investments' Lauren Goodwin, iCapital's Anastasia Amoroso and Charles Schwab's Kevin Gordon reveal what they think is next for stocks. Plus, Glen Kacher from Light Street Capital tells us where he sees the mega-caps headed as we look toward the end of the year. 

Watch the video version on YouTube.  On previous episodes, we've discussed what's called the “democratization of alternatives.” Put simply, alternatives have become more accessible to individuals as the investment vehicles have evolved to address pain points like high minimums and long lockup periods. Dr. David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, is joined by Anastasia Amoroso, the Chief Investment Strategist at iCapital. The platform is designed to help clients navigate the world of alternative investments. We'll hear from Anastasia about what iCapital does to help individuals feel confident investing in alternatives, as well as her perspective on the trends we're seeing in the market. Resources: For more resources on the Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify

How much life is left in this overachieving bull run? And will good news on the economy continue to be treated as good for stocks? iCapital's Anastasia Amoroso, Invesco's Kristina Hooper and Citi's Scott Chronert reveal where they stand. Plus, Warren Pies from 3Fourteen tells us why he is expecting a soft landing and a year-end rally. And, top technician John Kolovos thinks there's more room for stocks to run… but it could be a bit of a bumpy ride. He explains why. 

Dan Nathan and Danny Moses discuss bank earnings and Tesla's highly anticipated Robo Taxi event. Recorded on a Friday morning before market opening, the conversation explores JP Morgan and Wells Fargo's performance, noting their trading positions and sentiment. The duo also discusses Tesla's event outcomes, including the Robo Taxi reveal and unexplored lower-end EV announcements, resulting in a drop in Tesla stock. After the break (32:30), Dan is joined by Anastasia Amoroso, Chief Investment Strategist at iCapital. The conversation explores the unpredictable financial year of 2023, marked by the emergence of generative AI, impacts on the S&P 500, and the soft landing of the economy. Anastasia provides insights into market rotations, inflation, and a shifting rate environment, emphasizing the potential benefits of a broader market opportunity. They also examine regional banking crises, the role of AI, the semiconductor industry's investment appeal, and geopolitical risks concerning the Middle East. The episode further discusses the implications of the upcoming U.S. elections on market stability, potential shifts in regulatory focus on megacap tech, and the influence of global events on oil prices. Anastasia outlines why a Goldilocks scenario could sustain a higher market multiple and the future investment opportunities spanning utilities, financials, real estate, and tech sectors. The conversation concludes with analysis of China's economic strategies and their potential regional and global impacts. Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe — About the Show: On The Tape is a weekly podcast with CNBC Fast Money's Guy Adami, Dan Nathan and Danny Moses. They're offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we're here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. — Check out our show notes here See what adding futures can do for you at cmegroup.com/onthetape. — Shoot us an email at OnTheTape@riskreversal.com with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads — We're on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Thomas @LizThomasStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

iCapital chairman and CEO Lawrence Calcano talks about his firm surpassing $200 billion in global platform assets and more with hosts Katie Greifeld and Sonali Basak.See omnystudio.com/listener for privacy information.

Welcome to the 12th episode of the Monthly Alts Pulse, a collaboration between iCapital x Alt Goes Mainstream.This month's episode features one of iCapital's senior executives, Eileen Duff, Managing Partner & Chief Client Success Officer, and a private markets veteran who was Head of Alternative Investments, North America for Credit Suisse for a number of years. At iCapital, she oversees Investor Relations, Enterprise Integration, and Client Operations teams to optimize the client experience. Eileen has had a number of senior and instrumental roles at iCapital. She's also a member of iCapital's Operating Committee. She was previously Head of Fund Management & Research for iCapital, where she was responsible for origination and development of new investment products and lifecycle management of existing offerings. She also led Distribution for iCapital, leading the sales and relationship management function after joining from Credit Suisse.iCapital, as the leading platform that is responsible for the majority of individual and advisor-led investment flows into the alts space, has its finger on the pulse of what's happening in private markets.Eileen and I had a fascinating and lively discussion about how technology innovation, and AI and automation in particular, are revolutionizing alternative investments and how technology can drive growth and operational efficiency. We covered:How and why alternatives distribution has evolved. The importance of meeting clients where they are.The evolution of wealth channel strategies.How much does structure matter?When and why Eileen saw registered funds as a major driver of the future growth of private markets well before they became mainstream.The impact of registered and evergreen funds on operations and fund administration.Where will the biggest efficiencies come from in the automation of post-investment processes?How AI and automation will enhance operational efficiency?Thanks Eileen for a great episode … looking forward to next month's Monthly Alts Pulse conversation!

Nick Veronis joins Tony in episode 15 of the Alternative Allocations podcast series to discuss the evolution of alternative investments solely being available to institutions to now becoming more accessible to the wealth channel. They delve into the changes in product structures, the introduction of technology to simplify operations, and the emergence of educational opportunities to help advisors understand the role alts play in client portfolios. Nick is Co-Founder and one of the Managing Partners of iCapital, where he is Head of Portfolio Management. He is also a member of the company's Operating Committee. Nick spent 11 years at Veronis Suhler Stevenson (VSS), a middle market private equity firm where he was a Managing Director responsible for originating and structuring investment opportunities. At VSS, he specialized in the business information services sector and helped spearhead the firm's investment strategy in the financial software and data sector, including its investment in Ipreo. Nick was previously an operating advisor to Atlas Advisors, an independent investment bank based in New York. He began his career as a financial journalist for The Boston Business Journal, was a reporter for The Star-Ledger, and a Senior Associate in the New Media Division of Newhouse Newspapers. He holds a BA in economics from Trinity College and FINRA Series 7, 79, and 63 licenses. Nick Veronis | LinkedIn Powering the World's Alternative Investment Marketplace - iCapital Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn

Are we heading for another stretch of volatility? Sofi's Liz Young Thomas, iCapital's Anastasia Amoroso and BMO's Yung-Yu Ma give their forecasts for stocks. Plus, Wells Fargo's Chris Harvey tells us how he will navigate a potential rate cut and the upcoming election. And, CNBC's Jim Cramer storms Post Nine with some breaking news on Nvidia. 

Hello listeners, I am Rahul Abhyankar, your host. Welcome to Product Leader's Journey. In today's episode we talk about B2B Product Marketing, Sales Enablement, and AI with Lara Shackelford. Lara is a veteran Chief Marketing Officer many times over, and has led marketing teams to create impact at companies such as Oracle, Intel, Datastax, Looker (both before and after the acquisition by Google), and has also led global demand generation at Microsoft. She is currently senior vice president of marketing at iCapital. In this episode, Lara talks about how the B2B buying experience has changed, what is a good blueprint for sales training, coming up with a good ROI analysis, how to assess the ROI of AI, and what does a good partnership between product marketing, product and sales teams looks like, and much more. David Packard, the cofounder of HP, is believed to have said, “Marketing is too important to be left to the marketing department,” so I wanted to see what Lara had to say about that. Enjoy listening!

What's next for stocks as markets make their way through a turbulent week? iCapital's Anastasia Amoroso, Merrill and Bank of America Private Bank's Chris Hyzy and Ryan Detrick of Carson Group break down what they're expecting next for the market. Plus, JP Morgan CEO Jamie Dimon shedding some light on his future at the company. Top banking analyst Mike Mayo gives his first reaction – and tells us what it could mean for the stock in the long term. And, Robinhood and Warner Bros. Discovery both set to report after the bell. We discuss what is at stake for both of those stocks. 

Welcome to the 11th episode of a collaboration between iCapital x Alt Goes Mainstream. We changed up this month's episode, welcoming iCapital Co-Founder and Managing Partner, Head of Investment Solutions Dan Vene to the show to discuss the evolution of private markets and the launch of iCapital's Marketplace. iCapital, as the leading platform that is responsible for the majority of individual and advisor-led investment flows into the alts space, has its finger on the pulse of what's happening in private markets.Dan and I had a fascinating and lively discussion about the evolution of the industry through the lens of iCapital's growth and maturation, which has most recently included the creation of iCapital Marketplace. We discussed:Can alternative investments help you sleep at night?Public markets vs. private markets?What are the benefits of private markets?Are there evolving perspectives on liquidity?What potential market catalysts could further shift investments from public to private investments?How and why have fund managers had success on Marketplace?What's the new world order for investing?Thanks Dan for a great episode … looking forward to next month's Monthly Alts Pulse conversation!

Peter Repetto, vice president of investment strategy at iCapital, says that while rate cuts historically are good for markets — gaining roughly 9 percent in the year after cuts start historically — they do struggle if cuts are made during times of recession or downturn. Repetto expects a soft landing and moderate downturn, which is setting up for reasonably well for "rate-cut beneficiary" businesses moving forward. Repetto notes that markets also tend to gain in the 12 months after a presidential cycle, saying they tend to gain about 15 percent on average regardless of which party wins control of the White House, which should create a good market for the market if the Federal Reserve starts cutting rates amid a mild slowdown. Ahead of the expected rate cut from the Federal Reserve that is increasingly considered likely for September, Todd Rosenbluth, head of research at VettaFi, looks to the granddaddy of actively managed bond funds for his "ETF of the Week," Mark Hamrick, senior economic analyst at BankRate.com discusses a new survey showing how Americans feel their personal finances are being influenced by the current presidential candidates, and what they expect for the future depending on who wins in November, and Chuck answers a listener's question about diversifying a portfolio and how many investments to hold.

Welcome back to the Alt Goes Mainstream podcast.I've been having many conversations with GPs and LPs over the past few months — and it feels like we've reached a point in private markets where both sides are trying to figure out how to navigate this space, from a product perspective and a technology perspective. To better understand these issues, I asked Lawrence Calcano, Chairman & CEO of iCapital, the largest platform in the space and a business that is in the middle of much of the flows of activity between GPs and LPs, to come back on the show to dive deeper into these topics.The main topic of conversation? The evolution of the different service models that enable GPs to unlock access to private markets for more LPs.As private markets welcomes more investors to the space, the how becomes as important as the why. How can investors gain access to private markets in ways that work for them?How can alternative asset managers better serve those investors? How can this all be done in a responsible, thoughtful way that sets up both investors and private markets for success in the long-term?Lawrence and I had a fascinating conversation. We discussed:How can operational efficiency across the entire value chain lower fees?Where do technological innovations like distributed ledger and AI factor into industry transformation?How important is education in driving adoption of alternative investments?How model portfolios and customization can transform the investor experience.Platform versus point solutions.Overestimating and underestimating market trends and market size.Why effortless is a myth.Thanks Lawrence for coming on the Alt Goes Mainstream podcast to share your thoughtful perspectives on the industry and its continued evolution.Show Notes00:00 Introduction to Ultimus Fund Solutions01:18 Welcome to Alt Goes Mainstream and Introduction to Lawrence Calcano02:26 Navigating Private Markets03:36 Holistic Solutions for GPs and LPs03:57 Importance of Education in Alts04:46 Understanding Alts in Portfolios06:50 Lowering Fees Across the Chain07:32 Technology and Tools for Advisors08:36 Success in the Wealth Channel10:21 Investment Product Innovations11:44 Direct Relationships in Private Markets13:26 Operationalizing Cost Structure Changes14:21 The Role of AI and Data14:43 Fee Evolution in Private Markets15:31 Operationalizing New Workflows16:06 Long-Term Industry Investments18:37 Collaboration in the Industry and Education20:34 Model Portfolios and Customization23:04 Addressing Liquidity Concerns24:18 Democratization of Private Markets25:14 Platform vs. Point Solutions31:14 The Importance of Scale38:53 Moving Fast and Moving Slow 40:33 Conclusion and Final ThoughtsA 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.

Is it okay to be more bullish on stocks? Josh Brown and Cameron Dawson break down where they stand. Plus, Big Technology's Alex Kantrowitz weighs in on Apple hitting $190 for the first time since February … and where he sees the stock headed from here. 3Fourteen's Warren Pies is skeptical of one key piece of inflation data. He explains why and what it could mean for the broader market. And, Anastasia Amoroso from iCapital maps out the sectors she is betting on right now.