Opening up private equity funds to retail investors and wealth managers
While the democratisation of private equity has been in progress for some time, 2025 may be remembered as the year when things truly picked up. A plethora of new products designed to increase retail investors’ involvement in private markets keep popping up, ranging from customisable public-private models to infrastructure offerings with entry tickets as low as $500. In this special report, we examine the biggest trends driving the democratisation of the market, as well as the hurdles that still remain.
INSIDE THE REPORT
PREVIOUS COVERAGE
ELTIF 2.0 takes off
The amended European Long-Term Investment Fund opens the field to new products and fund of funds strategies.
UBS Asset Management: Taking private assets to the masses
Product innovation and a regulatory overhaul meant 2023 was a big year for the democratisation of private markets, says Tanja von Ehrlich, head of wholesale, real estate and private markets, at UBS Asset Management.
What’s in a long-term fund?
The key differences between Europe’s ELTIF and the UK’s LTAF, from eligibility requirements and borrowing limits to management and governance.
Ardian: Putting private markets education above all else
Effective communication is key to growing the private wealth opportunity, says Erwan Paugam, head of private wealth solutions and managing director at Ardian.
Pantheon: How innovation is driving demand for private markets
New products, structures and strategies are making private markets more accessible to private wealth investors than ever before, say Pantheon’s Michael Hutten and Victor Mayer.
Semi-liquids and secondaries: offering new liquidity options to managers
A growing number of semi-liquid funds have a heavy allocation to secondaries.
iCapital on the crucial elements of democratisation
Partnering with investment advisers is key to helping clients effectively access the private markets, says Lawrence Calcano, chairman and CEO of iCapital.
GSAM: What’s next for the democratisation of alts?
Education and careful manager selection will be crucial for private wealth investors considering alternative investments in 2024, say Goldman Sachs Asset Management’s Adam Lane, Barry Fricke and Hilary Lopez.
How tech is pushing real estate towards democratisation
Technological developments in the real estate space mirror the progress being made in the democratisation of private equity, writes Kyle Hagerty.
Schroders: An appealing alternative for private wealth investors
As private wealth investors increasingly turn their attention towards private markets, technology and regulation must develop at the same pace, says Tim Boole, head of product management, private equity at Schroders Capital.
Neuberger Berman on making private equity accessible to all
The democratisation of private equity is about broadening access to the asset class, both in terms of who can invest and the ways in which they do so, says Peter von Lehe, head of investment solutions and strategy at Neuberger Berman Private Markets.
What is democratisation?
Opening PE up to a more diverse range of investors comes with unique opportunities and pitfalls.
How does democratisation affect GP-LP alignment?
The fundamentals of the private equity model will come under the microscope as access to the asset class broadens.
Partners Group: An individual education
With demand from individual investors on the rise, fund managers should curate their investor base with due care and attention, say Partners Group’s Rob Collins and Christian Wicklein.
PE’s democratisation discourse
Conference participants have yet to reach a consensus on how best to open the private markets to individual investors.
PE industry mobilises around ELTIFs
For a successful ELTIF take-up, industry participants must strike a balance between flexible product rules and adequate investor protection.
Travers Smith: Democracy in action
Managers looking to diversify their AUM should renew their focus on democratised structures, say Travers Smith’s Will Normand and Leigh Stockey.
iCapital: Education unlocks potential
The most successful route to the democratisation of private markets is through transparency, education and access to high-quality investments, say iCapital’s Lawrence Calcano and Marco Bizzozero.
Retail investors raise question of liquidity
Liquidity and the ability to trade in and out of fund structures are key points of concern for retail investors when it comes to accessing private markets.
Investment trusts’ role in the democratisation of PE
Amid market volatility, managers of investment trusts are using education tools to ensure investors stick with the asset class.
UBS: A second look at democratisation
The secondaries market is a logical entry point for private wealth clients looking to access private markets, say UBS’s Tanja von Ehrlich and Jochen Mende.
Moonfare: Retail investors can cash in on private equity
Growing demand from retail investors has made the democratisation of private markets an inevitability, says Moonfare’s Dr Steffen Pauls.
Fundraising platforms: The who, what, how and where
With an ever-expanding number of digital fundraising platforms coming to market, we put together a handy guide detailing the differences in their offerings.
Q&A: Securitize’s Carlos Domingo
Last year, Securitize tokenised portions of funds managed by KKR and Hamilton Lane. Its chief executive and founder, Carlos Domingo, tells us about the opportunity for tokenising private funds.
Schroders Capital: Riding the democratisation wave
For individual investors who have been considering participating in private markets, the time to move is now, say Schroders’ Nathalie Krekis and Schroders Capital’s Georg Wunderlin.
Goldman Sachs: Building institutional-calibre portfolios
It’s imperative for retail investors to truly understand the risks associated with illiquidity when investing in private assets, say Goldman Sachs’ Adam Lane and Greg Olafson.
Download the February 2023 issue of Private Equity International
Inside: Working the crowd – Blackstone’s Joan Solotar on the private wealth opportunity; A 35-page special report on the democratisation of private markets; Expert comment and analysis from market leaders; Plus much more…
Click here to access Private Equity International’s in-depth special reports covering a wide array of topics, plus our digital magazines.
