Podcast
Alt Goes Mainstream
Hosted by Michael Sidgmore · EN
Join the smartest people in the room and subscribe to learn how top investors and allocators are incorporating private markets into the portfolios of tomorrow.
altgoesmainstream.substack.com
altgoesmainstream.substack.com
38episodes
Episodes
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🎥 Apax's Andrew Sillitoe and Mitch Truwit - buying complexity for value in the middle market: AGM Live from SuperReturn
3d ago00:30:46Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.We were live from Berlin, which becomes the “capital of private capital” in June as the private equity’s industry leaders make the annual pilgrimage to the city for one of the marquee private equity conferences, SuperReturn Berlin.Much of the SuperReturn conference is centered on fundraising. GPs take up every available space — from hotel rooms, to Tiny Space cabins lining the parking spots on Budapester Strasse outside of the InterContinental conference venue — to conduct meetings with LPs.With Prosek Partners’ and former Bloomberg TV journalist Deirdre Bolton as my producer and her team, we took over a Tiny Space cabin to hold big conversations with some of the industry’s leading alternative asset managers.Our first conversation was with Apax Co-CEOs Andrew Sillitoe and Mitch Truwit.Apax is one of the pioneers in the private equity industry. The firm’s rich history dates back to the 1970s, when its founders, Alan Patricof (US), Sir Ronald Cohen (UK), and Maurice Tchénio (France), came together to establish the first US-UK partnership firm in private equity. During that time period, the firm backed Steve Jobs and the first iteration of Apple. The UK and US firms merged in 1981, laying the foundation for Apax.Today, Apax stands at over $80B in aggregate funds raised. The firm underwent its second leadership transition in 2014, when Andrew and Mitch were elected as Co-CEOs, succeeding Martin Halusa, who became Chairman.Apax sits in an interesting position. They are a scaled platform that focuses on the middle market. They operate across three sectors, Tech, Services, and Digital / Consumer, infusing a digital DNA and value creation team into everything they do. Their platform spans “a mile wide and a mile deep,” which is what much of the conversation between Andrew, Mitch, and me unpacked.We had a fascinating discussion about the current state of private equity and the middle market, why Apax focuses on “density-driven business models,” why the firm focuses on carveouts in the middle market, what’s underappreciated about the middle market, why it’s important to “buy in the right neighborhood and fix it up,” and how the firm’s core values of “having impact through insight and tenacity” drive every decision they make.BiosAndrew Sillitoe has been Co-CEO of Apax since 2014. He is Chairman of the Apax Global Investment Committee and the Digital Investment Committee, amongst others. He is also a member of the Apax Executive Committee. He has been based in London since joining the Firm in 1998, focusing on Tech & Telco investments. Andrew has been involved in a number of investments including Inmarsat, Intelsat, King, Orange Switzerland, TIVIT, TDC and Unilabs. Prior to joining Apax, Andrew was a consultant at LEK. Andrew holds an MA in Politics, Philosophy and Economics from the University of Oxford and an MBA from INSEAD.Mitch Truwit is Co-CEO of Apax, based in New York. Prior to joining Apax in 2006, Mitch was the President and CEO of Orbitz Worldwide between 2005 and 2006 and was the Executive Vice President and Chief Operating Officer of priceline.com between 2001 and 2005. Mitch serves as a Board member of Openlane and Trade Me. Prior boards include Advantage Sales & Marketing, Assured Partners, Dealer.com, Bankrate, Garda World, Hub International, Trader Canada, Boats Group and Quality Distribution Inc. Mitch is a graduate of Vassar College where he received a BA in Political Science. He also holds an MBA from the Harvard Business School.Thanks, Andrew and Mitch, for a fascinating conversation and for sharing your expertise, wisdom, and passion at the intersection of investing and operating in private equity.Show Notes00:00 Meet Apax’s co-CEOs, Andrew Sillitoe and Mitch Truwit00:39 Andrew on Industry Change and Apax’s Evolution01:12 Private Equity: From Cottage Industry to Scale01:26 The Purpose of Private Equity01:44 Apax Growth and Professionalization02:07 Values and Venture Roots02:36 Mitch’s Journey from Operator to Investor03:30 Building the Operating Platform at Apax04:10 Defining the Middle Market04:45 Why Sub-Billion EV Works05:00 Exit Options and Liquidity05:32 Capability Gaps in Management Teams06:04 TRADER Corporation - Canada App Turnaround06:50 Apax’s Digital DNA and Carve-Outs Approach07:28 Choosing the Harder Path07:55 Digital DNA and AI Wave08:34 Top Line Growth Lever09:26 Add-ons and TAM Expansion10:28 ECI Roll Up Example11:05 Integration vs. Not Just Buying11:27 Market Structure and Selling Well12:50 Fund Size Discipline13:42 Returns Over AUM15:12 Global Pods Micro Investing17:11 Scale Specialization Flexibility18:34 Future Proof Investing in AI Era21:54 Moat and Investment Committee23:58 Why Middle Market Is Underloved25:09 Next Decade Alpha and AI26:54 Impact Through Insight Tenacity28:01 Apax Culture: An Obligation to Dissent29:07 Aspirational Brands30:04 Wrap UpJoin over 16,800 Substack subscribers & followers and 44,000 LinkedIn and podcast followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Blackstone's Farhad Karim - a "relentless" focus on serving private wealth
2w ago00:40:38Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.Today’s podcast takes us to the heart of Mayfair in London, where Blackstone Private Wealth COO Farhad Karim shared the firm’s history and evolution in Europe.He took a walk down memory lane to discuss the firm’s 25th anniversary in Europe as we walked through Berkeley Square from Blackstone’s current office to their new office at the other end of the square, highlighting how the firm has become the largest owner of commercial real estate in Europe and the importance of building a local presence in the region.Farhad took on the role of Chief Operating Officer of Blackstone Private Wealth in 2024 after a career at Blackstone that included serving as Chairman and Chief Operating Officer of Blackstone Europe and holding a senior leadership role in the firm’s Real Estate business.Farhad and I had a fascinating discussion about the evolution of Blackstone’s business in Europe and the firm’s Private Wealth business globally. We covered:Why it’s important to “meet people where they are at.”What Farhad learned from his experience running Blackstone Europe.Building and expanding Blackstone’s Private Wealth business.How Blackstone will continue to be a pioneer in private wealth.The next phase of product innovation in the wealth channel.How an international perspective has shaped Farhad's approach to building the Private Wealth business.Harmonizing the institutional and private wealth businesses when delivering solutions to LPs.The human element of working with wealth.What it means to be “relentless.”Perspectives on evergreen funds.The scale of opportunity, information, and access.Thanks, Farhad, for sharing your wisdom, expertise, and passion about private markets and private wealth.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:33 A Message from Ultimus Fund Solutions02:11 Farhad’s Blackstone Journey03:14 What Hasn’t Changed at Blackstone04:14 Parallels Between Real Estate and the Wealth Channel05:16 Building for Local Markets08:01 Scaling Advisor and Investor Education09:12 How Well Advisors Understand Private Markets11:15 Early Innings of Adoption12:39 Productization and New Fund Structures14:20 Simplicity Versus Choice for Investors15:13 Wealth Consolidation and Institutionalization17:26 Aligning Wealth and Institutional Capital19:08 Scale Advantage and Deal Access19:56 Scale And Global Lens20:21 Deal Competition And Pricing20:59 AI advantage across platform22:36 Risks in private markets24:37 Explaining Private Markets26:20 Investing Through Volatility27:41 Evergreen Vs Drawdown29:49 Semi liquid is a feature32:03 How To Use Evergreens33:32 Owning The Narrative36:56 Relentless Fiduciary Focus37:53 Relentless As Culture39:55 Closing ThoughtsFootnotes(Timestamp 02:47.8): Largest owners of commercial real estate in Europe.(Timestamp 33:01.1): Reference to Class I annualized, inception-to-date return from January 2017.Join over 16,800 Substack subscribers & followers and 44,000 LinkedIn and podcast followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Hightower's Larry Restieri - building a $1T RIA and operating at the intersection of private markets and private wealth
3w ago00:56:03Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.Today’s episode dives deep into the world of wealth management with someone whose career is emblematic of the intersection of private markets and private wealth.We sat down with Larry Restieri, the CEO of Hightower.Larry is the CEO and a member of the Board of Directors at Hightower, a national wealth management firm that empowers financial advisors to deliver sophisticated investment and financial services to clients.Larry joined the firm in June 2025 from Goldman Sachs, where he was a Partner. Larry served as the CEO of Goldman’s AYCO business, which specializes in workplace financial planning and private wealth advisory services.He held a variety of leadership roles at Goldman across its wealth and asset management divisions, including heading up the Alternative Capital Markets business.Larry and I had a fascinating conversation about the continuing convergence of private markets and private wealth from someone who was at the forefront of this industry transformation. We covered:The evolution of private markets within the wealth channel.Lessons learned from Larry’s time building Goldman’s Alternative Capital Markets business and the AYCO business.The path to building Hightower into a $1T RIA.The “Volkswagen model of wealth management.”The build-out of Hightower’s Signature Wealth brand.What does the continued buildout of private equity-backed platforms mean for the evolution of wealth management?What drives financial advisors?The benefits of the independent RIA model.How and why wealth clients should be thinking about private markets.Thanks, Larry, for sharing your wisdom, expertise, and passion at the intersection of private markets and private wealth.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:30 Meet Larry Restieri01:25 A Message from Ultimus Fund Solutions02:35 Larry’s Career Story08:44 Why Hightower CEO09:28 Next Evolution Wealth10:29 RIA Platform And Tech12:16 Democratizing Alternatives13:28 Selling Illiquidity Correctly15:02 Education Avoids Surprises18:05 Platform Scale And Choice28:58 Signature Wealth Brand29:21 Growth Targets Ahead29:50 Platform Benefits Deal29:58 Acquiring The Bahnsen Group30:58 Inorganic Growth Model31:26 Client Brand Question32:02 Volkswagen Brand Model32:43 Why Brand Matters33:37 Values Across Teams34:01 Building Unified Culture35:04 Advisor Community Summit35:49 Why Keep Independence36:33 Hightower 3.0 Strategy38:09 Advisor Client Connection38:44 Defining Open Architecture40:12 Private Equity Impact42:29 Exit Paths Going Public44:09 M&A Multiples Pressure46:05 Market Cycles and Rates47:48 Private Markets Allocation49:32 Advisor Private Market Fears51:10 GPs Serving RIAs Better52:05 Enterprise GP Partnerships53:06 Non-Obvious Alt Take54:50 Closing ReflectionsJoin over 16,700 Substack subscribers & followers and 44,000 LinkedIn and podcast followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Oak Hill Advisors' Eric Muller - operating at the intersection of public and private credit: live from iCapital Connect
3w ago00:34:23Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.We were live from AGM’s RIA Field Trip at Brookfield’s New York office at Brookfield Place with Oaktree Managing Director and Co-Portfolio Manager Danielle Poli to unpack why private credit is at a crossroads and why dispersion is growing.Danielle has a unique perch to form a developed view on the current state of private credit. She sits at the intersection of public and private credit, providing her with perspectives on where opportunities and risks lie across the liquidity spectrum.Danielle is a founding member of Oaktree’s Global Credit strategy and its Investment Committee, which was established in 2017. She’s been an important contributor to its growth into a scaled multi-asset credit platform. She previously led Oaktree’s product specialist group, which she helped build into a global team supporting credit, private equity, and real estate. She joined Oaktree in 201 and has nearly two decades of experience in private markets. She has been named to Barron’s list of the 100 Most Influential Women in U.S. Finance.Danielle and I had a fascinating conversation about the current state of private credit, where cracks might be emerging and where to find pockets of opportunity amid the dislocations. We covered:Why is boring beautiful in private credit?Where are we in the credit cycle?Why it’s important to have a contrarian mindset.Where, why, and how dispersion is rising in credit.How to underwrite software investments post-AI.Why asset-backed finance can be a diversifier.Why now could be the time to prepare for opportunistic and rescue lending opportunities, as maturities are fast approaching.How to balance public and private credit investing.Thanks, Danielle, for sharing your wisdom, expertise, and passion about private credit.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Live Podcast Intro00:17 Contrarian Mindset00:34 Intro to our Sponsor, Ultimus Fund Solutions01:51 Where Private Credit Stands Today02:13 Market Testing And Bifurcation02:34 Private Credit Evolves Beyond Corporate03:33 Danielle Poli Background04:23 Why Liquidity Matters Now04:49 Dislocation And Price Discovery04:59 Structuring Power In Private Markets05:22 Risk Return And Spread Compression05:51 Paid For Illiquidity Plus Covenants06:16 Asset-Backed Finance Diversifier06:52 Corporate Vs Asset-Backed Underwriting07:20 Why Ring-Fenced Cash Flows Win07:51 How Allocators Fund ABF08:11 Credit Taking Share From Equities09:12 Tough Direct Lending Vintages09:49 Rates Shock And Leverage Reality10:10 AI Disrupts Software Credit11:09 Oaktree Underweight Software12:32 Underwriting Software Post AI13:31 Inside The Investment Committee14:35 Selling Rallies And Staying Humble15:07 Busted Converts Playbook15:55 Liquid Credit Helps Private Discipline17:07 Why Do Both Public And Private17:40 Transparency And Extend or Pretend18:58 PIK Interest Red Flags19:58 Stress Under The Surface20:14 Triple C Spreads And Maturity Wall21:27 Why Dispersion Is Rising21:55 Risk Migrates To Loans And Private23:00 Oaktree Contrarian Playbook23:22 Complacency Vs Real Tailwinds24:34 Brookfield Platform AI Insights25:40 Exuberant Financing Warning Signs26:28 Equity Vs Credit For AI Buildout27:10 Allocating Between Equity And Credit27:52 Valuations Signal Lower Equity Returns29:14 What CIOs Should Tell Clients30:00 Rescue Lending Opportunity Ahead31:39 Signals And Timing The Cycle32:04 Hybrid Products And Barbell Allocations32:36 Core Income Plus ABF Deals33:06 Memo Title - Boring Is Beautiful34:30 Closing Thanks And OutroJoin over 16,600 Substack subscribers & followers and 44,000 LinkedIn and podcast followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Oaktree's Danielle Poli - private credit: "boring is beautiful" - live from AGM's RIA Field Trip
4w ago00:34:45Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.We were live from AGM’s RIA Field Trip at Brookfield’s New York office at Brookfield Place with Oaktree Managing Director and Co-Portfolio Manager Danielle Poli to unpack why private credit is at a crossroads and why dispersion is growing.Danielle has a unique perch to form a developed view on the current state of private credit. She sits at the intersection of public and private credit, providing her with perspectives on where opportunities and risks lie across the liquidity spectrum.Danielle is a founding member of Oaktree’s Global Credit strategy and its Investment Committee, which was established in 2017. She’s been an important contributor to its growth into a scaled multi-asset credit platform. She previously led Oaktree’s product specialist group, which she helped build into a global team supporting credit, private equity, and real estate. She joined Oaktree in 201 and has nearly two decades of experience in private markets. She has been named to Barron’s list of the 100 Most Influential Women in U.S. Finance.Danielle and I had a fascinating conversation about the current state of private credit, where cracks might be emerging and where to find pockets of opportunity amid the dislocations. We covered:Why is boring beautiful in private credit?Where are we in the credit cycle?Why it’s important to have a contrarian mindset.Where, why, and how dispersion is rising in credit.How to underwrite software investments post-AI.Why asset-backed finance can be a diversifier.Why now could be the time to prepare for opportunistic and rescue lending opportunities, as maturities are fast approaching.How to balance public and private credit investing.Thanks, Danielle, for sharing your wisdom, expertise, and passion about private credit.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Live Podcast Intro00:17 Contrarian Mindset00:34 Intro to our Sponsor, Ultimus Fund Solutions01:51 Where Private Credit Stands Today02:13 Market Testing And Bifurcation02:34 Private Credit Evolves Beyond Corporate03:33 Danielle Poli Background04:23 Why Liquidity Matters Now04:49 Dislocation And Price Discovery04:59 Structuring Power In Private Markets05:22 Risk Return And Spread Compression05:51 Paid For Illiquidity Plus Covenants06:16 Asset-Backed Finance Diversifier06:52 Corporate Vs Asset-Backed Underwriting07:20 Why Ring-Fenced Cash Flows Win07:51 How Allocators Fund ABF08:11 Credit Taking Share From Equities09:12 Tough Direct Lending Vintages09:49 Rates Shock And Leverage Reality10:10 AI Disrupts Software Credit11:09 Oaktree Underweight Software12:32 Underwriting Software Post AI13:31 Inside The Investment Committee14:35 Selling Rallies And Staying Humble15:07 Busted Converts Playbook15:55 Liquid Credit Helps Private Discipline17:07 Why Do Both Public And Private17:40 Transparency And Extend or Pretend18:58 PIK Interest Red Flags19:58 Stress Under The Surface20:14 Triple C Spreads And Maturity Wall21:27 Why Dispersion Is Rising21:55 Risk Migrates To Loans And Private23:00 Oaktree Contrarian Playbook23:22 Complacency Vs Real Tailwinds24:34 Brookfield Platform AI Insights25:40 Exuberant Financing Warning Signs26:28 Equity Vs Credit For AI Buildout27:10 Allocating Between Equity And Credit27:52 Valuations Signal Lower Equity Returns29:14 What CIOs Should Tell Clients30:00 Rescue Lending Opportunity Ahead31:39 Signals And Timing The Cycle32:04 Hybrid Products And Barbell Allocations32:36 Core Income Plus ABF Deals33:06 Memo Title - Boring Is Beautiful34:30 Closing Thanks And OutroJoin over 16,600 Substack subscribers & followers and 44,000 LinkedIn and podcast followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Breaking bread at Franklin Templeton's Private Markets RIA Advisory Council - Franklin Templeton's Dave Donahoo and Summit Wealth Group's Chelsea Ganey
Jun 2300:45:56Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.Building community is central to enabling an industry to grow. There are few better ways to build community and foster trusted relationships than to break bread.As the wealth channel continues to expand its adoption of private markets, peer-to-peer learning becomes ever more important. Sharing experiences and perspectives is what will help the wealth channel adopt private-market solutions thoughtfully and responsibly.That’s what happened at Franklin Templeton’s Private Markets RIA Advisory Council event and dinner at BLACKBARN recently. Bread was broken. Relationships were built.We also found time to record a podcast around a dinner table with Franklin Templeton’s Head of Private Markets - Americas Wealth Management Dave Donahoo and Summit Wealth Group’s CIO Chelsea Ganey. The discussion granted access to a direct, honest, and raw window into perspectives on how asset managers and wealth managers can work together to educate one another and help move the industry forward. And yes, bread was broken before and after the podcast.Please enjoy this fantastic conversation with Dave and Chelsea on the state of private markets and private wealth and how both asset managers and wealth managers can balance customization and differentiation with scale.The dinner table provided a perfect setting to discuss what’s on the menu in private markets and private wealth. We covered:Why there’s no free lunch, just dinner.Are private markets eating the world?Creating curated menus for advisors.The recipes for success in private markets distribution.Thanks, Dave and Chelsea, for such a thoughtful and fascinating conversation.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Sponsor Intro by Ultimus00:57 Meet The Guests, Dave Donahoo and Chelsea Ganey01:07 Private Markets Everywhere01:30 Why FormT he Franklin Templeton RIA Advisory Council01:51 Franklin Client-First DNA02:11 The New Franklin Templeton03:05 Beyond Product Feedback03:48 Chelsea On The Value of The Advisory Council04:31 Networking Beats Inbox Noise05:23 Serving Diverse RIAs06:28 Inside One RIA Many Needs07:47 What GPs Should Do Better08:47 Education That Actually Sticks09:55 From White Papers To Tools10:50 Education Then Vs Now11:42 Choice Changes The Pitch12:21 Customization Vs Scale13:26 Centralized CIO Menus15:51 Sober Selling Long Term17:13 Franklins Specialist Platform18:19 Why Specialists Win19:17 Infrastructure Partnership Play20:13 More With Less Managers22:10 Advisor Level Efficiency22:46 Whats Next Product Innovation23:23 Integrity First Adoption24:36 Allocator Lens Shift25:00 Innovation Options Overview25:15 Model Portfolios Debate26:03 Customization Versus Scale26:29 What Private Markets Lack26:44 Meeting In The Middle27:07 Magic Wand Question27:31 Plumbing And Reporting27:45 Ease Without Dilution28:00 Lexington Structure Constraints28:44 Long Term Over Short Term28:56 Need More CIO Mindset29:17 Strategic Allocation Framework29:34 Avoiding Whipsaw Flows30:08 Chelsea On Strategic Thinking30:24 Integrating Alts In Portfolios30:57 Advisor Conversation Shift31:32 Educating On Liquidity31:43 Reframing Private Risk32:07 Control And Recovery Benefits33:07 Dave On Liquidity Risk33:52 Stop Saying Semi Liquid34:19 Structural Liquidity And Trust35:23 Dinner Props And Buckets35:57 Starter Main Dessert Picks36:16 Real Estate Equity Starter36:51 Secondaries Main Course37:11 Real Estate Credit Dessert38:04 Diversify Early Or Regret39:37 Strategic Neutral Analogy40:00 Client Analogies That Work40:34 Zillow House Price Lesson41:40 Baseball Patience Mindset42:52 Fat Pitch Question43:01 Chelsea On Secondaries Credit43:59 Dave Singles Versus Homers44:42 Lead Off Batter Story45:02 No Free Lunch Just Dinner45:40 Closing Thanks And OutroJoin over 16,400 Substack subscribers & followers and 44,000 LinkedIn and podcast followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Juventus' Giorgio Chiellini - life lessons in sports and business from a world-class performer on and off the field
Jun 1101:01:06Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.We went to a mecca of football to film the latest episode. This conversation takes us to Turin, Italy, where we were in the Juventus Creator Lab with Italian football (I mean soccer for the Americans) legend and one of the best defenders of all time Giorgio Chiellini.Giorgio’s career and playing style were defined by Juventus’ very motto, fino alla fine (“until the end”). It’s also a mentality that he brings to every aspect of life on and off the pitch.After an illustrious playing career at one of the world’s biggest clubs, Juventus, and a career that also included two World Cup appearances for Italy and winning the Euro 2020 as the Captain of Italy, Giorgio came back home to Turin rejoin the club where he starred for 17 years: Juventus. Giorgio has gone from the pitch to the boardroom, helping to lead Juventus as the Director of Football Strategy. He has brought the player’s perspective to the business side of football, balancing the nuances of sports and business.Despite the demands that Giorgio faced on the field as a player to maintain a standard of play at the highest levels of the game, he found time during his career to pursue his passion for business. He received his MBA while playing for Juventus and also was involved in the player development side in his final years as a player at LAFC. More recently, he became an investor in LAFC and in Mercury13, a multi-club investor in women’s football teams, including FC Como. He’s also an active investor in the European startup community.Giorgio and I had a wide-ranging and fascinating conversation that covered several dimensions of the business of sport. We discussed:How can sports clubs chase the trifecta, in Giorgio’s view: “sustainable, profitable, and a winner?”How teams, owners, and investors can balance both the sport and business aspects of the game.What it means for sports now that players can have bigger social followings than their clubs or leagues.How Juventus has built and amplified its brand through initiatives like the Creator Lab.How clubs like Juventus can help players build their off-field brand while maintaining a high-quality on-field product.How Giorgio’s work off the field while playing informed how he wanted to spend his time post-career in business.What Giorgio’s day-to-day is like as Director of Football Strategy for Juventus.Why Giorgio invested in LAFC and what he thinks about the future of the MLS.What American owners and investors can learn from European soccer clubs and owners, and what European clubs and owners can learn from American owners and investors.Thanks, Giorgio, for sharing your wisdom, expertise, and enthusiasm at the intersection of sports and business and fino alla fine.Note: this episode was filmed in October 2025 with a plan to publish the conversation around the World Cup.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Split Second Decision01:06 A Message from Our Sponsor, Ultimus02:10 Meet Giorgio Chiellini04:31 What Is the Juventus Creator Lab05:12 Clubs Becoming Global Brands05:33 Football Business Then vs Now05:47 Global Reach and Media Rights06:22 Brand Value and Revenue Streams07:52 On-Pitch vs Off-Pitch Business08:23 Winning vs Storytelling08:59 Global Fans and Virtuous Cycle09:49 Too Many Games Problem10:16 Stakeholders and Calendar Control11:31 Communication Fixes Tension12:02 Player to Management Journey13:49 Why He Studied While Playing18:19 Mental Health and Social Media31:14 US Soccer Outlook31:40 Grassroots Takes Time32:04 MLS and USL Growth32:23 MLS Season Motivation32:39 Supporters Shield Math33:15 Travel and Rotation33:42 Europe vs MLS Stakes34:04 Highlights Culture Shift35:16 How Fans Watch Now36:15 Sports Must Adapt36:54 Owners Business Response37:11 Leagues Changing Formats37:47 TV Rights Going Global38:37 Institutional Money Trend39:14 Why Investors Love Sports39:54 Balancing Profit and Growth40:44 Sport Is Emotional40:51 Fiduciary Duty vs Winning42:01 Permanent Capital Juventus44:58 Mission Culture Values46:22 Club and City Identity47:49 Leadership Lessons LearnedEditing and post-production work for this episode was provided by The Podcast Consultant.Join over 16,400 Substack subscribers & followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Bank of America's Mark Sutterlin - why being a good investor in private markets is table stakes
Jun 400:55:50Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.Today’s conversation provides a fascinating window into the world of how one of the industry’s largest wealth managers approaches private markets.We sat down with the man who holds the keys to the kingdom.Mark Sutterlin is the Head of Alternative Investments within the Investment Solutions Group at Bank of America. He leads the firm’s strategy and platform development across hedge funds, private credit, private equity, physical precious metals, and real estate, delivering a broad spectrum of institutional-grade investment solutions to advisors and their clients.Mark brings the advisor’s perspective to bear as he builds the alternative investments menu for Merrill and Bank of America Private Bank and helps educate advisors and clients on how and where to thoughtfully and appropriately include private markets in portfolios.Mark and I had a fascinating discussion. We covered:How GPs can work with private banks.What one of the largest private wealth allocators looks for in GPs.How Merrill approaches different product structures to deliver solutions across the wealth client spectrum.What constitutes a manager’s edge.I loved this conversation with Mark, who takes such a thoughtful approach and brings a true passion to helping clients and advisors build and protect wealth.Thanks, Mark, for sharing your expertise, wisdom, and passion on private markets and private wealth.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Investor Edge Beyond Returns00:32 Sponsor Message from Ultimus01:29 Meet Mark Sutterlin03:27 From Advisor to Alts Lead03:34 Lessons From 200804:12 Trust And Advisor Duty04:27 Serving HNW And UHNW04:51 Evergreen To Drawdown Spectrum05:19 Building The Alts Shelf05:52 Platform Design Principles06:35 Diligence As Core Identity07:04 Nuance In Private Credit07:40 Long Term Themes Overlay08:17 Core Satellite Portfolio Mix09:57 Evergreens Take The Lead10:23 Evergreen Growing Pains10:50 Education And Expectations11:49 Who Can Run Evergreens12:40 Allocation Policy And Scale13:07 Post-Sale Servicing Matters13:40 Manager Service Playbook14:57 Vetting Manager Fit17:11 DNA Of A Firm18:24 Speaking Advisor Language19:27 Customization Versus Scale20:23 UHNW Specialist Support21:28 Tools For Custom Proposals22:40 Feedback Loop Builds Menu23:15 Differentiation In UHNW23:52 What Merrill Expects From GPs24:15 Capacity Co-Invest And Access25:04 Next Frontier Experiential Change26:23 Planning Tools For Alts26:41 DLT And Private Markets27:02 Fixing Fragmented Workflows27:21 Streamlining To Drive Adoption27:42 Biggest Blocker Education Gap28:13 Advisor Intimidation And Misperceptions28:37 Shared Responsibility To Educate28:58 Misconception Complexity Fear29:39 Controls And Simple Narrative30:09 Alts Invitationals Bootcamp31:09 Why The Lightbulb Moment Happens31:33 Advisors Stretched Thin32:11 What Why How Spectrum34:12 Implementation Still The Gap34:32 Scaling The Alts Platform35:37 Open Architecture Product Depth35:54 Lifecycle Infrastructure And Controls36:34 Where To Invest Next37:28 Growth Mix Existing Vs New38:40 Advisors Yet To Adopt39:41 Client Sentiment And Experience41:26 Patience And Long Term Comfort42:04 Next Gen Investors And Time Horizon44:11 Manager Edge And Storytelling46:07 Menu Construction And Gatekeepers48:24 Platform Differentiation And Exclusivity50:43 Liquidity Headlines And Real Risks52:24 Excited About AI And Themes54:58 Closing Reflections And Wrap UpEditing and post-production work for this episode was provided by The Podcast Consultant.Join over 16,400 Substack subscribers & followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 Benefit Street Partners' Michael Comparato - the opportunity in commercial real estate credit
May 2700:58:41Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.Today’s episode brings commercial real estate credit investing to life with someone who has real estate in his blood. Michael Comparato’s grandfather started building single-family homes in upstate New York in 1946. He built his first shopping center in 1958. Michael was born into a family where he was on construction sites from a young age. At 13, he was doing landscaping. At 15, he was hanging drywall. Today, Michael is a Senior Managing Director, Head of Real Estate and Portfolio Manager with Benefit Street Partners, as well as Chief Executive Officer of Franklin BSP Realty Trust, Inc (NYSE: FBRT). He also serves on the US Executive Committee.Prior to joining BSP in 2015, Michael was Head of U.S. Equity Investments at Ladder Capital. Before that, he was President at Bank Atlantic Commercial Mortgage Capital.Benefit Street Partners is part of Franklin Templeton’s family of specialists in private markets. BSP is a specialized private credit firm with over $92B in AUM. The firm manages a wide range of private credit strategies, including direct lending, special situations, commercial real estate debt, infrastructure debt, asset-backed finance, structured credit, and liquid credit. It also manages a non-traded Business Development Company and publicly-listed mortgage REIT.Since BSP was acquired by Franklin Templeton in 2019, it has partnered with the $1.7T investment manager to expand how it structures various products and funds, enabling more access to the private credit asset class for wealth investors.From his perch as the Head of BSP’s Real Estate business, Michael has the perspective of how one of the industry’s scaled real estate investment firms is approaching commercial real estate credit and where the firm sees opportunity.Michael and I had a fascinating conversation about the evolution of CRE credit and why now might be an interesting time in the CRE credit space. We covered:Why CRE, why now.What bank retrenchment means for CRE credit investors today.The relative resilience of multi-family.The maturity wall myth.Is the “extend and pretend” activity a reality?How AI impacts commercial real estate.Thanks Michael for sharing your passion, wisdom, and expertise on commercial real estate credit.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Meet Michael Comparato00:40 Message from Ultimus, our Sponsor02:05 Real Estate in His Blood03:18 Hands On Early Lessons03:41 Finance Meets Real Estate04:13 Hurricane Shopping Center Stories05:15 The Human Side of Property06:13 Story Over Spreadsheet07:50 Why Origination Beats Buying09:48 Family Business Ethos11:06 Relationships Still Matter12:18 Trust and Transparency12:49 Navigating Recent Dislocation14:01 Lending Through COVID14:47 Structuring for Uncertainty15:32 Boom Times Underwriting Shifts18:39 Crowded at the Top28:42 Banks Pull Back, Private Credit Steps In31:22 Banks Shed CRE Risk32:06 Who Gets Paid for Risk32:22 Euphoric Returns Fade33:09 Competition Compresses Yields33:40 Maturity Wall Myth33:59 Extend and Pretend Reality34:23 Taking the Asset Back34:42 Post Hike Loanbook Shift34:54 Hardline Loan Modifications35:54 Real Estate Credit Allocation36:46 Why Institutions Buy In38:27 Equity to Credit Rotation39:10 Wealth Channel On-Ramp40:05 Why Real Assets Win41:04 Why Now for CRE Credit43:18 Credit vs Equity Horizon44:15 Opportunity Set Today45:27 WFH and AI Megatrends48:30 Shelter Beats Disruption50:08 Communities and Reinvention52:23 Real Estate Constant Evolution55:30 CRE Credit vs Direct Lending58:03 Closing ThanksEditing and post-production work for this episode was provided by The Podcast Consultant.Join over 16,200 Substack subscribers & followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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🎥 73 Strings' Yann Magnan - unlocking valuation intelligence in private markets
May 700:46:33Tap to summarizeWelcome back to the Alt Goes Mainstream podcast.Today’s episode is with a founder who is building mission-critical valuation and portfolio monitoring software for alternative asset managers.We are joined by Yann Magnan, the Co-Founder and CEO of 73 Strings, to discuss how valuation work and portfolio monitoring is moving from manual to automated and why that’s so important for the industry. 73 Strings has leveraged AI and automation to more seamlessly and cost-effectively extract data, monitor portfolios, and streamline middle-office processes for valuations. 73 Strings works with a number of the industry’s top alternative asset managers and has received investment from Blackstone, Growth Equity at Goldman Sachs Alternatives, Hamilton Lane, Golub, Fidelity International Strategic Ventures, and Broadhaven Ventures, amongst others.Yann has brought his experience as a senior member of the Duff & Phelps team, where he was EMEA Market Leader and member of the Global Operating Committee and as a Partner at EY’s Transaction Advisory Services to help bring valuation and portfolio monitoring solutions into the mainstream.Yann and I had a fascinating conversation about how technology innovation and AI are impacting private markets and perspectives on valuation work today. We discussed:The challenges with manual valuation services businesses.How to create uniformity and standardization with private markets fund performance data.How AI is changing private markets post-investment reporting processes.Does automation in private markets help big funds or small funds more?The evolution of post-investment private markets market structure.The biggest technology innovation still missing from private markets.Why the growth of the wealth channel and evergreen funds increases the need for more streamlined reporting and valuation solutions.Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus, the full-service fund administrator and transfer agent powering asset managers in private and public markets. As alts go mainstream, you need real expertise to handle complex fund structures, connect with key distribution partners, and handle sophisticated compliance, reporting, and transparency demands.That’s Ultimus: high-tech, high-touch solutions for over 450 clients and 2,500 funds with $775B in assets under administration. Backed by an expert team of over 1,200 employees, they place client service at the core of their business, helping you navigate complexity during your fund structuring or launch and then supporting you through every stage of growth. Whether you’re already in the market or thinking about entering private wealth, you can trust their team’s deep expertise in retail alternatives to help you reach your goals.Learn more: ultimusfundsolutions.com or email info@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 AI Since Day One01:06 A Message from our Sponsor, Ultimus02:02 Introduction to Yann Magnan04:15 Valuations: From Manual To Automated06:47 Evergreen Funds Shift08:25 Valuations Now Drive Trades13:12 Transparency And Liquidity16:20 Evergreen Ops Requirements18:35 Tech Leverage In Valuation21:02 Data As The Single Source22:45 Why Valuations Differ23:31 Consistency In Valuations24:10 Humans Versus AI26:00 No Single Best Method26:56 Educating Wealth Investors28:15 GP Valuation Uniformity29:27 Global Tech Adoption30:33 Why Tech Helps Fundraising31:30 Data Extraction And Insights34:35 Standardizing Portfolio Data36:11 Scale Versus Expertise38:22 AI Agents In Valuation40:37 Governance And Explainability44:00 Digital GP LP Data Sharing45:29 Trust And Closing ThoughtsEditing and post-production work for this episode was provided by The Podcast Consultant.Join over 16,000 Substack subscribers & followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hamilton Lane, StepStone, Partners Group, General Atlantic, Hightower, Focus Financial, Corient, Cerity Partners, and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com
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