108 episodes

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.

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

    • Business
    • 5.0 • 15 Ratings

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.

    2024 European Private Market Trends: An AGM x Pangea podcast shorts collaboration

    2024 European Private Market Trends: An AGM x Pangea podcast shorts collaboration

    AGM collaborated with Pangea Group, a firm that helps B2B fintech companies with go-to-market strategies, at a live event they hosted on private markets in London with Schroders and Illuminate Financial to gather thoughts from some leaders in private markets on their views of the industry’s future in Europe. 
    We asked seven private market participants for their views on 2024 trends in private markets.
    Hear what they have to say. Listen to short interviews with:
    Spencer Lake, Partner, 13books Capital.Toby Bailey, VP of Sales EMEA, Canoe.Rezso Szabo, General Partner, Illuminate Financial.Dan Kramer, Strategic Advisor, ex-CEO, Jaid AI.Tom Davies, Managing Director and President, Forge Europe.Levent Altunel, Co-Founder, bunch.Jay Wilson, Partner, AlbionVC.Thanks for coming on AGM unfiltered to share your views and thoughts on the future of private markets.
    Show Notes00:00 Introduction
     
    00:35 Event Overview and Purpose
     
    01:06 Conversation with Spencer Lake, 13books Capital
    01:25 Spencer Lake on Banking and FinTech
    02:42 Challenges in Private Markets
    05:18 Standardization and Technology in Finance
    07:34 Insights from nCino's Success
    09:44 The Story Behind 13books
    10:51 Future of Private Markets
     
    12:55 Conversation with Toby Bailey, Canoe
    15:07 Canoe's Approach to Data Management
     
    22:09 Conversation with Reszo Szabo, Illuminate Financial
    22:40 Illuminate Financial's Investment Focus
    23:51 Generational Transformation in Private Markets
    26:36 Challenges in Private Market Liquidity
     
    31:41 Conversation with Dan Kramer, Jaid AI
    32:05 Dan Kramer's Career Journey
    34:19 Evolution and Transparency in Private Markets
    35:37 Jaid's Role in Fund Administration
    36:10 The Challenge of Communication in Fund Management
    36:49 How Jaid Solves Communication Issues
    38:03 The Impact of AI on Post-Investment Processes
    39:12 Technology Gaps in Private Markets
     
    40:05 Interview with Tom Davies, Forge Europe: Evolution of Private Markets in Europe
    41:23 SPV Nominee Model and Institutional Adoption
    42:35 Current Sentiment in the European Secondary Market
    43:53 The Changing Skill Set of VCs
    45:07 Challenges and Opportunities in Private Market Liquidity
     
    49:55 Interview with Levent Altunel, bunch: Transforming Fund Management
    51:21 Unified Data Solutions for Fund Managers
    52:53 Future Directions for bunch
     
    57:06 Interview with Jay Wilson, AlbionVC: Evolution of Capital Markets
    01:00:35 Electronifying Private Markets
    01:03:08 The Role of Data Analytics in Private Markets
     
    01:06:52 Conclusion: The Future of Private Markets

    • 1 hr 7 min
    Ritholtz Wealth Management's Michael Batnick - real talk on private markets

    Ritholtz Wealth Management's Michael Batnick - real talk on private markets

    Welcome back to the Alt Goes Mainstream podcast.
    On today’s show, we turned the tables. We welcomed famed podcast co-host of Animal Spirits and The Compound and Friends and writer at The Irrelevant Investor, and Managing Partner and Director of Research at $4B AUM Ritholtz Wealth Management Michael Batnick to come on the show to share a wealth manager’s perspective on private markets.
    Michael’s career has taken a number of fascinating turns. He started selling insurance, before a chance meeting on the platform of the subway station with Josh Brown of Ritholtz Wealth Management after a New York Knicks loss led to a job offer to work with Josh at RWM. At Ritholtz, Michael has been an integral part of the team that has helped to drive the firm’s growth, leading with content and education. Each of the firm’s Partners have built impressive content platforms across blogs, books, and podcasts. Their thoughtful approaches to investing come through in their work — and it’s translated to how they think about private markets. Michael provided interesting viewpoints on why alternatives have yet to be adopted by many advisors and the challenges with adopting alternatives products.
    Michael and I had a fascinating discussion at the intersection of wealth and alts. Michael and I covered:
    His journey into wealth management and the lessons he has learned along the way.The importance of education and networking in the wealth management industry.How he thinks about risk in public and private markets.The evolution of wealth management as a business.Why alternatives products are still sold and not bought.The importance of staying focused on fundamentals and long-term investing.The workflow challenges that alternative investments have for a wealth management firm.How and why content can develop views, educate, and build brand in wealth management and private markets.Thanks Michael for coming on the show to share your thoughts and wisdom on investing.
    Show Notes
    02:03 Introduction to Alt Goes Mainstream 
    02:43 Guest Introduction: Michael Batnick 
    03:00 Michael's Early Career and Challenges 
    07:26 Meeting Josh Brown and Career Breakthrough 
    08:35 Lessons from the Insurance World 
    09:20 Creating Content and Building a Brand 
    10:58 Investing Philosophy and Market Insights 
    14:27 Young Investors and Market Psychology 
    19:13 Public vs. Private Markets 
    29:25 Advisors and Private Investments 
    34:21 Customization and Differentiation in Private Markets 
    34:50 Challenges in Pitching Investments to Clients 
    35:09 Operational Hurdles in Alternative Investments 
    35:34 The Role of Relationship Managers 
    36:16 Building and Managing Alts Portfolios 
    43:04 Market Dynamics and Investment Strategies 
    53:43 Content Creation in Wealth Management 
    58:53 The Future of Wealth Management with AI 
    01:01:46 Quick Fire Round: Market Predictions and Insights 
    01:05:19 Conclusion and Final Thoughts
    A word from AGM podcast sponsor, Ultimus Fund Solutions
    This 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

    • 1 hr 6 min
    HgCapital Trust's Chairman of the Board Jim Strang - a masterclass in private markets

    HgCapital Trust's Chairman of the Board Jim Strang - a masterclass in private markets

    Welcome back to the Alt Goes Mainstream podcast.
    Today’s episode features a masterclass in private markets from a guest who has seen it all.
    Jim Strang is a deeply experienced private equity professional who has been part of the industry as a GP, LP, investor, consultant, and now a teacher, board member, and advisor to a number of firms.
    I’d probably have to spend a good few pages going through everything that Jim has done and is currently doing in private markets. He’s a practitioner and a teacher, an expert and an operator. After an illustrious career that was punctuated as Chairman EMEA of Hamilton Lane, one of the largest LPs in private markets globally, he now serves in a number of board and advisor roles, which include Chairman of the Board at HgCapital Trust plc, Senior Advisor to CVC Capital Partners, Advisor at Bain & Company, and Director at Pictet Alternative Advisors.
    Jim and I had a fascinating conversation about the evolution of private markets and what the future holds for large and small funds alike, as well as LPs. We discussed:
    The step function changes that take private markets from $15T to $30T of AUM.Why traditional asset managers may struggle to replicate the capabilities of alternative asset managers in private markets.The importance of partnerships having a clear ambition and alignment if they want to build a scaled platform.The challenges that managers in the middle face as large platforms and specialist managers are the differentiated firms in the eyes of LPs.Why GPs need to find innovative solutions to address the needs of different types of investors.Why building a strong brand is crucial to success in the wealth channel.Thanks Jim for coming on the show to share your wisdom and experience on private markets.
    This 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 Notes
    00:00 Introduction and Sponsor Message
    02:06 Podcast Theme Song
    02:44 Guest Introduction: Jim Strang
    02:52 Jim Strang's Career Overview
    05:35 State of Private Markets: Challenges and Opportunities
    08:04 Fundraising Dynamics in Private Equity
    11:25 European Private Equity: Evolution and Insights
    15:01 Scaling Challenges and Ambitions in Private Equity
    25:41 Technology and Innovation in Private Equity

    • 1 hr 4 min
    Monthly Alts Pulse Ep. 10: Taking the pulse of private markets with Lawrence Calcano, Chairman & CEO of iCapital, and Robert Picard, Managing Director, Head of Alternative Investments at Hightower Advisors

    Monthly Alts Pulse Ep. 10: Taking the pulse of private markets with Lawrence Calcano, Chairman & CEO of iCapital, and Robert Picard, Managing Director, Head of Alternative Investments at Hightower Advisors

    Welcome to the 10th episode of a collaboration between iCapital x Alt Goes Mainstream. 
    Here’s the latest episode of the Monthly Alts Pulse, a live conversation in studio with Lawrence Calcano, the Chairman & CEO of iCapital, who as the leader of a platform that is responsible for the majority of individual and advisor-led investment flows into the alts space, has his finger on the pulse of what’s happening in private markets.
    In today’s episode, Lawrence and I welcome a special guest. Hightower Advisors Managing Director, Head of Alternative Investments Robert Picard joins us to discuss the operational challenges and solutions in private markets.
    Robert has spearheaded the creation of the Alternative Investment Platform offering at Hightower, where he and the team curates investment opportunities in private markets for their advisor teams through research and due diligence. Hightower has 140 advisor teams that collectively manage over $150B AUM. Robert has a wealth of experience in private markets. He was instrumental in building four multi-billion dollar alternative investment platforms at The Carlyle Group / Rock Creek, Optima Fund Management, RBC Capital markets, and State Street / InfraHedge. Most recently, Robert served as Head of Alternative Investments at First Republic Wealth Management.
    On this episode, Lawrence, Robert, and I had a fascinating and lively discussion. We covered a number of topics, including:
    How wealth platforms like Hightower and infrastructure operating systems like iCapital are creating straight-through-processing solutions across the lifecycle of a private markets investment for the wealth channel.The importance of bringing alts directly to the advisor’s desktop.Why improving the experience for advisors in private markets is critical to increasing adoption.Why it’s important to build across the continuum of needs for different types of high-net-worth investors.The importance of customization and differentiation with private markets solutions for advisors.What is the biggest unlock to enabling greater flows of capital into private markets?What are the implications of opening up the alts superhighway?Thanks Lawrence and Robert for a great episode … looking forward to next month’s conversation!

    • 21 min
    3i Members' Mark Gerson - building engaged investing communities

    3i Members' Mark Gerson - building engaged investing communities

    Welcome back to the Alt Goes Mainstream podcast.
    Today’s podcast is a special show with 3i Members co-founder Mark Gerson.
    Alt Goes Mainstream’s first sponsor is 3i Members, an investing network built on community, collaboration and capital that was co-founded by Mark Gerson, Billy Libby, and Teddy Gold. 3i Members is a global deal network for accomplished private investors. Members uncover, share, and diligence high-quality investment opportunities in private markets. The network offers more than just investment opportunities, providing access to expert databases, legal services, international events and retreats, masterclasses, asset allocation workshops, and other resources.
    Mark is a serial entrepreneur who has built a number of communities that have revolved around some form of crowdsourcing.
    In addition to founding 3i Members, Mark founded Gerson Lehman Group, a knowledge brokerage and primary research firm, that figured out how to use the power of community to serve its customers. He also founded United Hatzalah, a crowd-sourced system of volunteer first response that enables Israelis to be treated within the moments separating life from death following any medical trauma. He also co-founded and is the Chairman of African Mission Healthcare, which enables Christian medical missionaries to provide clinical care, training, and medical infrastructure for people throughout Africa.
    From co-founding United Hatzalah of Israel to building a unique community in the private markets space with 3i Members, Mark shares his experiences and the profound impact of community and crowdsourcing in both philanthropy and private markets. The episode dives into the intricacies of building capable, engaged communities, the conceptual differences between a network and a community, and the unique approach of 3i Members in creating a collaborative investing landscape. We discussed:
    Mark’s journey and the significance of pro-social behaviors and intellectual curiosity among investors. How 3i Members facilitates a space for private investors to share, scrutinize, and engage with high-quality investment opportunities. The importance of asking the right questions in investment. ROI-based philanthropyThe value of non-transactional relationships within communities.Thanks Mark for coming on the show to share your stories and wisdom.
    Chapters
    00:00 Welcome to the Mainstream: The Alt Goes Mainstream Podcast Intro
    00:42 Introducing 3i Members: A New Era of Investing
    01:11 Mark Gerson's Journey: Building Communities and Crowdsourcing Success
    02:59 The Power of Community in Crowdsourced First Response
    07:59 3i Members: Crowdsourcing in the Investment World
    09:44 The Art of Building and Maintaining Quality Networks
    12:02 The Philosophy of No-Selling in Building Trust and Community
    14:59 Engineering Serendipity: Fostering Organic Growth and Engagement
    19:59 Investment Strategies and Learning from the 3i Community
    24:40 The Future of Investing with 3i Members
    34:51 ROI in Philanthropy: A New Approach to Giving
    40:09 Closing Thoughts

    • 40 min
    Marc Rubinstein of Net Interest - an in-depth tour of financial markets with an expert in finance and history

    Marc Rubinstein of Net Interest - an in-depth tour of financial markets with an expert in finance and history

    Welcome back to the Alt Goes Mainstream podcast.
    Today’s podcast provided us with an in-depth tour of financial markets with a student of both finance and history. And what a tour guide we had. Marc Rubinstein, an investment professional with 25 years of experience researching and investing in financial services joined us on the show.
    Marc started his career as an equity research analyst, where he ultimately became a MD at Credit Suisse, leading the European banking sector equity research group before joining Lansdowne Partners. Lansdowne was one of Europe’s largest hedge funds, where he was a Partner and managed the award-winning $4B global long/short financials equity fund.
    He retired from Lansdowne in 2016 and, after going back to school to obtain his MBA from LBS, he launched Net Interest, a wildly popular and incredibly thoughtful newsletter on financial sector themes. I find Marc’s thoughts and views on Net Interest equal parts insightful and digestible. Marc is also an active value investor and early-stage fintech investor, where he was an early investor in Revolut. He’s also a contributor to Bloomberg Opinion.
    Marc and I had a fascinating conversation about a number of themes that are defining private markets. We discussed:
    Why most businesses are marketplaces and what that means for how one should evaluate a business.Whether or not private credit is a systemic risk.Why the Silicon Valley Bank crisis occurred and why private credit firms are filling the void.Where to look for new asset classes and how they become institutionalized.The nuts and bolts of alternative asset managers as businesses.Why pod shops have featured in the hedge fund world and why PE and VC will have different versions of pod shops.Why content is key for financial services businesses.How financial media has evolved and why the narrative arc of companies is a perspective that Marc enjoys coveringThanks Marc for coming on the Alt Goes Mainstream podcast to share your wisdom on financial services and financial markets.
    Chapters
    Introduction and Background
    Getting into the World of Finance
    Banks Today and the Rise of Alternative Asset Managers
    Regulatory Concerns and Private Credit
    Systemic Risk and Excessive Growth
    Identifying Risks in Private Credit
    Scale and Returns in Asset Management
    The Growth of Large Platforms in Private Markets
    The Equilibrium of Scale and Returns
    The Convergence of Traditional and Alternative Asset Management
    The Trend of Evergreen Funds in Private Markets
    The Acquisition of GIP by BlackRock
    The Competition Between BlackRock and Blackstone
    The Merging of Traditional and Alternative Asset Management
    The Future of Active Management
    Lessons from the Financial Crisis
    The Impact of Media on Financial Services
    The Trend of Permanent Capital in Private Markets
    The Evolution of Media in Financial Services
    The Role of Content in Financial Services
    The Importance of Understanding Financial Services History
    The Relevance of Deep Analysis in Financial Services
    Value Creation through Content
    Different Paths for Content Businesses
    Purity of Content in Financial Services
    The Future of Content in Financial Services
    The Impact of AI on Investment Recommendations
    The Value of Artisanal Work and Intelligence
    Pod Shops in Private Markets
    GP Stakes as an Analogy to Pod Shops
    The Psychology of Discounting Private Markets
    The Growth and Sustainability of Private Markets
    Infrastructure as an Interesting Alternative Investment

    • 59 min

Customer Reviews

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15 Ratings

15 Ratings

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An Insider’s Take on Alts

Sidgmore is plugged in to today’s heavyweights in the alts world in a way that results in conversations that are easygoing and natural. It’s a pleasure to hear his talks. Not all of his guests are natural public speakers, but he’s able to put them at ease, as good hosts can.

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