• Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets

  • De: Michael Sidgmore
  • Podcast

Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets

De: Michael Sidgmore
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  • Alt Goes Mainstream podcast is the place to turn to for interviews with some of the brightest and most experienced minds in the world of alternative investing, private equity (PE), venture capital (VC), real estate, crypto, collectibles and more. For anyone looking to invest into alternative assets (from experienced wealth managers to family offices to the individual investor looking for a more diversified investment portfolio), you’ll hear inside stories from executives and founders at some of the world’s largest financial institutions, alternative investment firms, and FinTech startups. More than a personal finance podcast, Alt Goes Mainstream dives deep into trends, investment strategies, firm building lessons, and innovative technologies that are enabling investors to access private markets and invest into alternative assets.
    2021
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Episodios
  • Cantilever Group's Todd Owens - the untapped opportunity in GP stakes

    Cantilever Group's Todd Owens - the untapped opportunity in GP stakes
    Sep 25 2024
    Welcome back to the Alt Goes Mainstream podcast.Today’s podcast dives into the continued innovation in the GP stakes space with someone who has advised some of the industry’s largest firms on their businesses and going public.We are joined by Todd Owens, the Co-Founder and Managing Partner of Cantilever Group. Cantilever is an independent firm focused on providing capital solutions to middle market asset managers. Their capital can be used to accelerate growth, support acquisitions or liftouts, fund GP commitments, seed new strategies, facilitate generational ownership transfer, and provide liquidity to founders. They focus on businesses that have enterprise values between $50mm and $500mm. The team has executed on over $500M of GP stake, financing, and seeding transactions as both investors and principals. Their advisory experience working with stakes funds includes over 15 GP stakes transactions, multiple GP stakes portfolio financings, numerous GP and BDC IPOs, and dozens of asset management financing and control transactions.Cantilever is working with two strategic partners as they build their firm: BTG Pactual, the near $30B market cap Brazilian bank and wealth and asset manager has committed 9 figures into Cantilever’s fund, and Broadhaven Ventures, the venture capital arm of Broadhaven Capital Partners.Todd has over 30 years of experience as an advisor covering financial institutions and as a senior financial services executive. Prior to founding Cantilever, Todd has been a partner at Broadhaven Capital Partners, an independent financial services focused investment bank that’s completed over $90B in announced M&A transaction volume, as well as the former CEO of Fifth Street Finance. Todd began his career at Goldman, Sachs & Co, spending 24 years including as a Managing Director and Partner in the Investment Banking Division. Todd and I had a fascinating discussion about how funds are becoming firms and why there’s an investment opportunity around that transformation. We discussed:The evolution of alternative asset managers from Todd’s perspective as a banker to many alternative asset managers.Why GP stakes has become a solution for alternative asset managers.Why and how alternative asset managers are businesses and why it can make sense for them to take investment to grow.The benefits of GP stakes for investors and why the growing AUM of private markets means investors could benefit from exposure to GP ownership.The risks and challenges with GP stakes as an investment strategy.Why the middle market is an underserved and attractive segment in alternative asset management.What the currency of consolidation will look like in alternative asset management.What it means to grow and evolve a business as an alternative asset manager.Thanks Todd for coming on the show to share your wisdom and experience on the evolution of asset management from your 30 years in the industry. 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 Sponsor Message01:18 Podcast Opening and Theme01:59 Introduction to Todd Owens and Cantilever Group03:10 Todd Owens' Career Background04:39 Early ...
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    49 m
  • Intapp's Ben Harrison - using data and automation to transform private markets

    Intapp's Ben Harrison - using data and automation to transform private markets
    Sep 18 2024

    Welcome back to the Alt Goes Mainstream podcast.

    Today’s episode is a special show with Ben Harrison, the Co-Founder of DealCloud, which is now part of Intapp, where he is President, Industries.

    Ben is a former banker and private equity professional at Falfurrias Capital Partners who went on to co-found DealCloud to make the process of managing deals and relationships for alternative asset managers and related industry service providers more streamlined and seamless.

    Ben and team have done just that at Intapp DealCloud. They’ve built a unified deal and relationship management software business that is more than just a CRM. They’ve integrated a CRM function with business development, marketing, pipeline, deal management, fundraising, and investor relations features into a single platforms to enable firms in private markets to better run their day to day processes. They have a roster of over 2,500 customers, which includes many of the industry’s leading alternative asset managers.

    Ben and I had a fascinating conversation about the evolution of enterprise software that serves private markets and why it’s such a large and growing opportunity, which was shared through the lens of an experienced and successful operator in this space who has grown his business to hundreds of millions in ARR that both alternative asset managers and founders and operators in private markets software will find interesting.

    We discussed:

    • Why scale matters in enterprise software just like it does in alternative asset management.
    • The strategic question of building a comprehensive end-to-end software solution versus building a point solution.
    • What are alternative asset managers looking for when building or buying software solutions for their business?
    • How are alternative asset managers thinking about data and tech differently?
    • Why and how the TAM for software solutions for private markets is growing in lockstep with AUM industry growth.
    • How data helps investors make better decisions.
    • Where AI can help automate processes for alternative asset managers.
    • Is AI over- or under-hyped?

    Thanks Ben for sharing your thoughts and wisdom of building an industry-leading software company for private markets and for Intapp and DealCloud’s partnership with Alt Goes Mainstream. We hope you enjoy.

    Show Notes
    00:00 Introduction and Background
    03:54 Building Industry-Specific Software Solutions
    08:02 Strategic Approach: Point Solutions vs. End-to-End Solutions
    13:11 Evolution of Alternative Asset Management and its Impact on Software Solutions
    16:24 Benefits of Technology for Large and Small Firms
    19:11 Building Software for Large Managers vs. Small Managers
    23:10 Technology's Impact on Firms' Efficiency and Productivity
    25:49 The Role of Technology in Professional Development
    28:24 Key Features and Benefits of DealCloud's Software Platform
    32:00 The Future of Technology in the Alternative Asset Management Industry
    35:49 Unlocking the Potential of Technology
    38:46 The Shift Towards a User-Friendly and Automated User Experience
    45:18 The Importance of Data-Driven Decision-Making
    52:21 Growth Opportunities in the Private Markets Industry
    01:04:16 The Role of AI in Enhancing Software Capabilities
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    1 h y 1 m
  • T. Rowe Price's Cheri Belski - how a $1.59T asset manager is approaching private markets: AGM x Pangea Private Markets Live Podcast

    T. Rowe Price's Cheri Belski - how a $1.59T asset manager is approaching private markets: AGM x Pangea Private Markets Live Podcast
    Sep 10 2024

    Welcome back to the Alt Goes Mainstream podcast.

    Recently, AGM partnered with Pangea to bring together a group of executives in private markets and wealth management in London for a live AGM podcast featuring Cheri Belski of T. Rowe Price, one of the largest asset managers in the world with over $1.59T AUM.

    Cheri is the Global Head of Product at T. Rowe Price, where she's responsible for setting the vision for T. Rowe Price's product development and their strategy in private markets.

    Cheri also chairs the Product Strategy Committee and is a member of the Investment Management Steering Committee. She is also a vice president of T. Rowe Price Group, Inc., T. Rowe Price Investment Services, Inc., and T. Rowe Price Associates, Inc. Cheri has been with T. Rowe Price since 1997.

    Cheri and I had a wide-ranging conversation on private markets. We discussed:

    • Why did T. Rowe Price look to add alternatives offerings?
    • How traditional asset managers have approached adding private markets capabilities.
    • Why T. Rowe Price acquired Oak Hill Advisors.
    • Build, buy, or partner to add alternatives?
    • Who will win the distribution battle in the wealth channel — traditional asset managers or alternative asset managers?
    • Opportunities and challenges with product construction and innovation for the wealth channel.
    • What the future holds for private markets.

    Please enjoy this fascinating conversation with Cheri. Thanks Cheri for sharing your wisdom and experience. We hope you enjoy.

    Show Notes


    00:00 Introduction: Going Mainstream

    00:40 Welcome to Alt Goes Mainstream Podcast

    00:43 Live Podcast in London with Cheri Belski

    00:54 Cheri Belski's Role at T. Rowe Price

    01:19 Discussion on Private Markets and Traditional Asset Managers

    01:37 Podcast Begins: Marylanders in London

    01:59 Host Introduction: Michael Sidgmore

    02:31 T. Rowe Price's Venture into Alternatives

    04:35 Why T. Rowe Price is Entering Alts

    05:46 Building, Buying, or Partnering in Alts

    07:09 Acquisition of Oak Hill Advisors

    07:13 Integration Challenges and Successes

    12:06 Brand Strategy in Alternatives

    14:36 Distribution Strategies for Alts

    16:20 Traditional vs. Alternative Asset Managers

    19:36 Challenges and Opportunities in Private Markets

    19:41 Advisor Relationships and Education

    22:29 Product Construction and Client Needs

    24:36 Challenges in Private Markets

    25:44 Future of Alternative Investments

    26:20 Conclusion and Farewell
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    27 m
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