Fascinating to see this overview of the expansion of private asset investing by several of the largest asset managers. “Alternatives” is clearly now an outdated term. The use of the term with more sophisticated asset owners now appears almost disingenuous, as if there is some magic involved. The discussions around less liquid, more volatile, and private asset classes need to be more precise and segmented by market in order to carry the ball forward with industry best practices and build lasting partnerships with asset owners.
“Some of BlackRock’s clients now have allocations to alternatives upwards of 50%, said BlackRock’s Edwin Conway. ‘That’s no longer alternative. It’s critical. It’s essential. It’s core.’”
Great reporting by Bridget Hickey at the team at FundFire / Financial Times.