Democratisation

Cash income, J-curve mitigation and diversification make GP stakes an attractive option for private wealth and retail investors. But a lack of liquidity could be a problem.

Valuation vaguery could prove a sticking point in PE's 'democratisation'; another GP launches a continuation fund strategy; climate investors target opportunistic 'grey areas'.

The listed giant's private wealth capital-raising grew 40% last year.

The territory's financial watchdog has met with over 30 entities so far and is working with several advanced applicants on potential listings.

Ensuring capital is effectively deployed while also meeting investors’ liquidity demands is a challenge that requires expertise and scale, say StepStone Group’s Neil Menard and Miguel Sosa.

In today's edition: The SEC commissioner makes the case for PE allocations in retail portfolios; Another mega-CV closes; ESG, DEI become less of an operational priority on both sides of the aisle.

Do customisable models incorporating both public and private markets exposure represent the next step in the democratisation of alternatives?

‘I don’t expect a Blackstone stadium any time soon,’ president and COO Jonathan Gray says on the firm's Q3 2025 earnings call.

The latest in our Private Markets 2030 series examines the challenges to raising non-institutional capital. Plus: Why secondaries returns are under greater pressure than ever before. Here's today's brief, for our valued subscribers only.

There is now proof of concept that institutional and retail products can successfully be managed side by side, say Davis Polk’s Andrew Ahern, Oran Ebel, Christopher Healey and Leor Landa.