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

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 at the intersection private markets and wealth management. AGM dives into investment strategies like private equity (PE), private credit, venture capital (VC), secondaries, GP stakes, infrastructure, real estate, wealth management, and comprehensively covers tools and frameworks for approaching private markets, such as asset allocation, evergreen funds, model portfolios, and more. For anyone looking to invest into private markets (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 asset managers firms, and wealth management firms. 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.

  1. Lexington Partners' Taylor Robinson - secondaries in the spotlight

    5D AGO

    Lexington Partners' Taylor Robinson - secondaries in the spotlight

    Welcome back to the Alt Goes Mainstream podcast. Today’s episode dives into the rapidly expanding world of secondaries with a senior leader at one of the pioneering firms in the secondaries space. We sat down at Franklin Templeton’s New York office with Taylor Robinson, a Partner on the Secondary team at Lexington Partners, which has over $77B in total capitalization and is part of Franklin Templeton’s family of private markets funds and strategies. Taylor, who joined the firm in 2008, is primarily focused on the origination, evaluation, and execution of secondary opportunities, including partnership and GP-led transactions. He’s also a member of Lexington’s ESG Steering Committee. Taylor and I had a fascinating conversation about the current state of the secondaries market. We covered many of the hot button topics and trends that are shaping the secondaries market, including: Why secondaries have become an integral part of many LPs portfolios.How secondaries have become a portfolio management tool for LPs.The rise of GP-led secondaries.Why not all CVs are created equal.Why secondaries can be a good on-ramp to private markets for wealth channel investors.What the future holds for secondaries.Thanks Taylor for coming on the show to share your expertise and wisdom about private markets and secondaries. Show Notes00:00 A Different Way of Thinking About Private Equity 00:43 Welcome to the Alt Goes Mainstream Podcast 01:20 Introduction to Taylor Robinson 02:35 Taylor Robinson's Background and Career 04:25 The Evolution of the Secondaries Market 05:20 Impact of the Financial Crisis on Secondaries 06:34 Growth and Liquidity in Private Markets 07:13 Current State of the Secondaries Market 07:29 Traditional vs. GP-Led Secondary Deals 09:18 Challenges and Opportunities for Institutional LPs 11:22 Active Portfolio Management Strategies 13:06 Driving Returns and Gaining Edge 14:46 Evaluating and Partnering with GPs 16:30 Nuances of the Secondary Market 17:22 Market Dynamics and Investment Strategies 18:04 The Role of Data and Technology 19:35 Regulation and Standardization in Private Markets 20:08 Evolving Focus of Secondaries Firms 20:51 Investment Horizons and Return Expectations 22:17 Primary vs. Secondary Fund Investing 27:07 Specialization and Diversification in Private Equity 28:41 Managing Favorite Assets 28:49 Diversified Portfolio Nuances 29:37 Generating Alpha in Secondaries 30:22 Asset Selection and Value Drivers 31:09 Consistent Investor Experience 33:53 Comparing Secondaries and Primaries 35:51 Evaluating Secondaries Over Time 37:18 Evergreen Funds and New Structures 38:11 Benefits of Locked-Up Capital 40:34 Challenges in Evergreen Space 41:39 Wealth Channel and Scale 43:04 Skillset for Secondaries Investors 45:16 Intellectual Curiosity and Success 47:45 Industry Trends and GP Consolidation 49:16 Understanding Market Dynamics 50:18 Training and Retention at Lexington 50:41 Future of Secondary Markets 52:54 Misconceptions About Secondaries 54:31 Shifting Mindsets on Discounts 54:54 Consistent Returns Through Cycles 55:42 Secondaries as a Real Asset Class 56:16 Excitement for Future Growth 56:22 Conclusion and Farewell Editing and post-production work for this episode was provided by The Podcast Consultant.

    57 min
  2. Ultimus Fund Solutions' Gary Tenkman - building the core fund administration infrastructure to make private markets go mainstream

    JAN 27

    Ultimus Fund Solutions' Gary Tenkman - building the core fund administration infrastructure to make private markets go mainstream

    Welcome back to the Alt Goes Mainstream podcast. Today’s episode features a pioneer who has been building the core infrastructure that is making private markets go mainstream. We talk with Gary Tenkman, a 30-year veteran of the fund administration world who is the CEO of Ultimus Fund Solutions. Ultimus serves over 450 clients and 2,300 funds, representing $725B of assets under administration, all handled by a team of over 1,100 professionals.  Ultimus, which is backed by private equity firm, GTCR and, more recently, Stone Point, is able to help investment managers navigate a growing array of challenges that include elaborate fund structures and evolving compliance requirements. Gary has built a business that combines the best of technology and human experts in fund administration to serve many of the industry’s largest funds. Ultimus has also been a big part of the ability for private markets to innovate with evergreen and interval fund structures since they have the necessary infrastructure and services to help fund managers launch, run, and administer evergreen structures. Prior to joining Ultimus as CEO, Gary was Head of North American Operations at another large fund service provider, where he was responsible for service delivery for all clients in the region. During his 16 years there, he held leadership positions in alternative investment fund services, European fund services, and US fund services. Gary and I had fascinating conversation about the evolution of fund administration and how fund administration in private markets has changed with the growing interest in evergreen and interval funds. We discussed: How fund administration has changed over the 30 years Gary has been in the industry.Will the evergreen fund industry mirror the growth and evolution of the mutual fund industry?The gap that Gary and Ultimus saw in private markets fund administration.Why fund services for evergreen fund structures is very complex and hard to do well.How technology can provide leverage to fund administration.Will AI impact fund administration?Why fund services are a compelling investment category for private equity.Thanks Gary for coming on the show to share your wisdom and experience and thanks for your support of Alt Goes Mainstream. The work you’re doing at Ultimus is making a big impact on evolving the industry, so it’s an honor to have you partner with AGM. We hope you enjoy. Show Notes01:01 Introduction to the Alt Goes Mainstream Podcast 01:10 Gary Tenkman: A Pioneer in Fund Administration 01:17 Ultimus Fund Solutions: An Overview 01:50 Innovations in Private Markets 02:02 Gary's Career Journey 02:20 The Evolution of Fund Administration 02:38 Challenges in Fund Services for Evergreen Structures 02:46 The Role of Technology in Fund Administration 06:58 Automation and Data Standardization 11:15 AI in Fund Administration 12:09 Fund Level vs. Asset Level Data 13:16 Lessons from the Mutual Fund Industry 13:58 Product Innovation in Private Markets 18:30 Navigating the Evergreen Space 23:20 Distribution Strategies for Private Markets 25:35 The Importance of Service Providers 26:50 The Evolution of Ultimus Fund Solutions 27:19 Evolution of Ultimus: The Early Days 28:02 Client-Centric Focus: The Key to Success 28:16 Investing in Technology and Growth 28:35 Mergers and Acquisitions: Building Scale 28:58 Private Side Expansion and Momentum 29:40 Challenges and Solutions in Private Markets 30:40 Client-Centric Culture: What It Means 31:34 Delivering High-Quality Client Service 32:28 Maintaining Culture Amidst Growth 33:27 Industry Consolidation: A Historical Perspective 34:09 New Partnerships and Investments 35:26 Future M&A Opportunities 35:43 Stone Point's Investment in Ultimus 36:34 Growth in Private Funds and Evergreen Structures 37:29 Convergence of Public and Private Markets 38:05 Hybrid Product Structures: Opportunities and Challenges 39:45 Regulatory Challenges in Retail Alts 40:58 Education and Adoption in Private Markets 45:54 401k and Retirement Space: Unlocking Potential 48:04 Exciting Trends in Private Markets Editing and post-production work for this episode was provided by The Podcast Consultant.

    51 min
  3. Goldman Sachs' Sara Naison-Tarajano - working with the apex of the wealth channel

    JAN 20

    Goldman Sachs' Sara Naison-Tarajano - working with the apex of the wealth channel

    Welcome back to the Alt Goes Mainstream podcast. Today’s episode brings us to the apex of the wealth channel. We sat down in Goldman Sachs’ HQ at 200 West with Sara Naison-Tarajano, a Partner and Global Head of Private Wealth Management Capital Markets and Global Head of Goldman Sachs Apex Family Office Coverage. Sara is also responsible for the One Goldman Sachs Family Office initiative in the Americas. Sara has been at Goldman Sachs for over 26 years, where she’s worked in a number of roles across the firm, equipping her with a multi-disciplinary background that is brought to bear in her current role leading a global platform that delivers multi-asset investing, financing, and direct investment opportunities to some of the world’s largest family offices. Goldman Sachs Apex Family Office Coverage now serves more than 600 family offices across the globe. Sara and I had a fascinating discussion about the growing intersection between private markets and private wealth and what some of the wealth channel’s largest investors find interesting and differentiated in private markets. We covered: How Sara expected to spend one year at Goldman and it turned into 26 years at the firm.How her background in derivatives structuring in public markets has helped her approach private markets – and what investors in private markets can learn from being exposed to public markets.Why Sara decided to create Goldman Sachs Apex to build a dedicated group to help large family offices invest directly into private markets.How Apex is related to Goldman’s “One Goldman Sachs” initiative.How the power of the platform helps to differentiate Goldman’s wealth management business.What lessons the wealth channel can learn from how the UHNW and billionaire family office segment approaches private markets.Takeaways from the Goldman Sachs Family Office Insights Report.How the wealth channel can engage the next generation clients and how private markets play a role in reaching the next gen.Thanks Sara for coming on the Alt Goes Mainstream podcast to share your expertise and wisdom on private markets and working with the wealth channel. Show Notes00:00 Introduction: 26 Years at Goldman Sachs 00:59 Welcome to the Alt Goes Mainstream Podcast 01:05 Meet Sara Naison-Tarajano 03:07 Sara's Career Path 04:51 Intellectual Curiosity in Finance 05:29 The Role of Derivatives 06:59 Transition to Wealth Management 07:51 Goldman's Culture of Creativity 08:48 The Birth of Apex 09:12 Why Apex? 10:48 Serving Family Offices 11:25 The Apex Model 12:46 Early Days of Apex 14:09 Family Offices and Direct Deals 16:12 The Growing Role of Family Offices 19:56 Misconceptions About Family Offices 23:26 Engaging the Next Generation 34:29 Liquidity in Private Markets 34:41 Decline in Public Companies 34:52 Access to Capital in Private Markets 35:14 Emerging Trends in Private Markets 35:36 Focus on Secondaries 36:02 Family Offices and Secondaries 38:19 Goldman's Secondary Market 38:56 Goldman's Acquisition of Industry Ventures 39:55 Family Offices' Investment Strategies 40:14 US vs Global Family Offices 40:38 Private Markets and Inflation 42:42 Advice for Wealth Channel Investors 43:02 Illiquidity Premium in Private Markets 43:56 Importance of Vintaging 44:28 Evergreen Funds vs Drawdown Funds 47:22 International Family Offices 49:27 Geopolitical Concerns and Investments 52:55 Mega Trends in Investing 54:15 Infrastructure and AI 56:16 Simple Wealth Management Strategies 58:57 Private Credit and Fixed Income 01:00:48 Risks in Private Markets 01:02:22 Future of Apex and Wealth Management Editing and post-production work for this episode was provided by The Podcast Consultant.

    1h 7m
  4. Stonepeak's Cyrus Gentry - bringing infrastructure investing to the wealth channel

    JAN 13

    Stonepeak's Cyrus Gentry - bringing infrastructure investing to the wealth channel

    Welcome back to the Alt Goes Mainstream podcast. Today’s episode brings infrastructure investing to life — literally. We sat down in and walked through one of Stonepeak’s data center assets with Managing Director and CEO of SP+ INFRA, Cyrus Gentry. Cyrus has played an integral role in Stonepeak’s rapid ascent as a firm and the growth of its wealth solutions business, Stonepeak+, joining early in the firm’s history and helping the firm grow to approximately $80B in AUM. Cyrus brings a private equity perspective to infrastructure investing. Prior to Stonepeak, he held investing roles at BC Partners and Advent International. He also serves as one of the Church Commissioners for the Church of England, who hold responsibility for managing the Church’s £11.1B permanent endowment fund. Cyrus and I had a fascinating and thought-provoking discussion about infrastructure investing and why and how it can fit within a wealth client’s portfolio. We covered: How Cyrus’ background in private equity investing has transferred over to investing in infrastructure.The opportunity and risks of data center investing.The risk of overbuilding in data centers.Why location matters for data centers.What makes interconnection data centers attractive data center assets.How Cyrus and Stonepeak have built their wealth solutions business and how they’ve endeavored to be different in how they’ve built out the business.How Stonepeak’s wealth business is a reflection of the firm’s DNA.Thanks Cyrus for coming on the show to share your expertise, wisdom, and passion for infrastructure investing and working with the wealth channel. Show Notes00:00 Introduction and Sponsor Message 01:57 Welcome to the Alt Goes Mainstream Podcast 02:04 Introducing Cyrus Gentry and Stonepeak 00:00 Introduction and Sponsor Message 03:25 Cyrus's Journey from Private Equity to Infrastructure 04:56 Understanding Infrastructure Investing 06:10 The Importance of Moats in Infrastructure 06:57 Differences Between Private Equity and Infrastructure 07:38 Stonepeak's Growth and Strategy 09:06 Specialization in Infrastructure Investment 09:54 Balancing Long-Term Horizons with Industry Changes 11:15 The Role of Data Centers in Modern Life 14:43 Investment Perspectives on Connectivity 15:55 Challenges in Infrastructure Investing 17:10 Executing Value Creation Plans 19:06 Structured Capital in Infrastructure Deals 21:17 Trends and Scale in Infrastructure Investment 22:43 Patience and Discipline in Investment 23:34 Global Expansion and Strategy Diversification 24:09 Collaborative Approach with Corporates 24:42 Capital and Problem Solving 25:02 Building Stonepeak Wealth Solutions 25:30 Infrastructure Asset Class Benefits 25:47 Strategic Planning and Vision 26:05 Creation of Stonepeak-Plus 26:15 Early Discussions on Wealth Business 27:32 Team Dynamics and Entrepreneurial DNA 27:59 Understanding the Wealth Market 28:56 Educating Investors on Infrastructure 29:50 Allocating Infrastructure in Portfolios 30:07 Global Perspectives on Infrastructure 32:18 Learning from Institutional Investors 33:19 Common Questions from Wealth Channel 34:02 Mega Trends and Investment Strategies 34:46 Core, Core Plus, and Value Add Assets 36:12 AI and Data Centers 40:20 Power and Energy in Data Centers 42:34 Local and Global Investment Strategies 44:12 Geopolitical Risks and Infrastructure 46:36 Lessons Learned and Future Outlook Editing and post-production work for this episode was provided by The Podcast Consultant. 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 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.

    50 min
  5. Blue Owl's Sean Connor - a growth company in a growth industry that is investing in megatrends

    JAN 6

    Blue Owl's Sean Connor - a growth company in a growth industry that is investing in megatrends

    Welcome back to the Alt Goes Mainstream podcast. Today’s episode takes us inside the world of wealth from the perspective of one of the industry’s largest alternative asset managers that has made the wealth channel core to its firm’s DNA from the beginning. We sat down with Sean Connor, Senior Managing Director and the President & CEO of Global Private Wealth at Blue Owl Capital, a firm with almost $300B in AUM. Sean highlighted a number of key insights for navigating and working with the wealth channel as he shared lessons learned from building a successful private wealth business at a large alternative asset manager. Sean is responsible for bringing the breadth of the Blue Owl investment platform to the global private wealth market. He’s at the forefront of Blue Owl’s private wealth initiatives globally and oversees fund formation, product structure innovation, capital raising, and client servicing. He also oversees business development, marketing, and operations for Private Wealth at the firm. Prior to his current role, Sean was one of the first employees at Owl Rock (now the Direct Lending division of Blue Owl) and was responsible for building out the private wealth business. Prior to joining Blue Owl and Owl Rock, Sean served as a Managing Director of CION Investment Management for over 10 years. Sean was a member of CION’s Investment Committee and was responsible for all aspects of CION’s business including originating, underwriting, and negotiating corporate finance transactions globally. In 2020, Sean was recognized by Private Debt Investor as one of the industry’s Rising Stars. Sean and I had a fascinating conversation about what it’s like to work with the wealth channel. We discussed: The biggest drivers of AUM growth for Blue Owl and how the wealth channel has been a major part of the firm’s story of scale.Lessons learned from growing and scaling a private wealth business in the US and internationally.The differences between the wealth channel a few years ago and the wealth channel today.What the wealth channel wants and needs from its alternative asset manager partners.Why Blue Owl focuses on investing in megatrends, like AI, digital infrastructure, and private credit.The opportunity in the 401(k) and retirement channels.Thanks Sean for coming back on the Alt Goes Mainstream podcast to share your expertise and wisdom on private markets and private wealth. Show Notes00:00 Introduction to Ultimus, our Sponsor 01:57 Welcome to the Alt Goes Mainstream Podcast and Episode Overview 02:10 Guest Introduction: Sean Connor 04:07 Growth Drivers for Blue Owl 04:45 Diversification and Market Strategy 05:17 Focus on Private Credit and Real Assets 06:54 Brand Essence and Market Leadership 11:25 Client Education and The Nest 14:21 Implementation Challenges in Wealth Channel 17:56 Customization in Wealth Management 19:20 Product Structuring and Client Needs 23:41 International Expansion and Market Strategy 26:23 Building Brand Internationally 28:01 Maintaining Entrepreneurial Culture 28:42 Challenges and Success in Scaling 30:38 Future Growth Areas in Wealth Business 30:42 Evolution of the Wealth Business 31:08 Expanding Product Strategies 31:37 Growth Opportunities in the US Market 32:23 Global Expansion and Execution 33:01 Retirement Market Potential 34:10 Bringing Parity to Retirement Ecosystem 35:19 Challenges and Opportunities in Retirement 35:39 Regulatory Changes and Education 36:38 Long-Term Investment Strategies 39:03 Private Credit and Direct Lending 40:47 Market Structure and Underwriting 43:47 Competition and Market Share 45:54 Private Companies and Direct Lending 47:56 Digital Infrastructure and AI 50:18 AI Bubble Concerns 51:46 Risk Management in Digital Infrastructure 55:11 Focus on Downside Protection 56:12 Future Investment Strategies 57:23 Excitement for the Future 59:13 Closing Remarks Editing and post-production work for this episode was provided by The Podcast Consultant. 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 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.

    1 hr
  6. EQT's Jean Eric Salata - reflections on leadership, culture, and values from one of the world's largest investment firms

    12/24/2025

    EQT's Jean Eric Salata - reflections on leadership, culture, and values from one of the world's largest investment firms

    It all comes back to the DNA. The firms that know who they are will know who to be. You can learn a lot about an investment firm by listening to what they say. Alt Goes Mainstream’s AGM Originals Series - The DNA: Capturing Culture - is dedicated to capturing the DNA of a firm by listening to what they say. The first season of The DNA stars EQT. In Stockholm, at EQT’s AIM this past summer, I sat down for conversations with nine EQT executives. Each executive came from different parts of the firm — and different parts of the world. Each had fascinating backgrounds and stories about how they ended up in private markets and worked to build EQT. But there was a single throughline threaded throughout all of the discussions: the consistency and frequency that each executive talked about the firm’s mission, vision, culture, and values. That’s why it all comes back to the DNA. Episode 2 features EQT's Jean Eric Salata. Jean Eric Salata is the Chairperson EQT Asia and Head of Private Capital Asia. Jean started the regional Asian private equity investment program for UK-based Baring Private Equity Partners Ltd in 1997 and later led the management buyout of this program in 2000 to establish BPEA as an independent Firm. He has since been responsible for the investment activity of BPEA until 2022, when the company joined forces with EQT and was renamed BPEA EQT. Prior to BPEA, Jean was a Director of Hong Kong-based AIG Global Investment Corporation (Asia) Ltd., the Asian private equity investment arm of AIG. Prior to that, Jean was the Executive Vice President of Finance of Shiu Wing Steel, a Hong Kong-based industrial concern, and prior to that a management consultant with Bain & Company based in Hong Kong, Sydney, and Boston. Jean holds a B.S. (Hons) in Finance and Economics from the Wharton School of the University of Pennsylvania, where he graduated magna cum laude. Please enjoy this conversation with one of the industry's leaders in Jean Eric Salata. You can stream all the episodes on AGM’s YouTube channel at AltGoesMainstreamAGM. Show Notes00:00 Introduction: The DNA of Firms 00:34 Conversations with EQT Executives 01:05 Jean Salata: Chairperson of EQT Asia 01:32 Jean's Early Life and Career 02:26 Journey to Asia 03:28 Cultural Comparisons and Private Equity 04:45 The Asian Private Equity Market 05:09 Structural Alpha in Asia 06:12 Shareholder Activism in Japan 06:45 Liquidity in Indian Stock Market 08:10 Evolution of BPEA's Strategy 10:16 Challenges and Opportunities in Asia 11:42 EQT's Partnership and Culture 12:04 Building a Lasting Enterprise 13:23 Industry Consolidation Trends 14:54 Growth Opportunities in Asia 15:24 Rebalancing Capital to Asia 16:07 Underpenetration in Private Equity 18:17 Family Businesses and Generational Change 18:46 Wallenberg Heritage and EQT's Reputation 20:02 Long-term Growth in Asia 20:50 Mid-Market Growth Fund 21:21 Exit Market in Asia 23:01 Perceived vs. Actual Risk in Asia 23:49 Thematic Investing and Value Creation 24:32 Alpha in Asian Markets 25:35 Intellectual Stimulation in Asia 26:44 Leadership and Continuous Learning 28:38 Motivation and Career Development 31:12 Conclusion and Final Thoughts

    32 min
  7. Alts Pulse Ep. 18: Taking the pulse of private markets with iCapital Chairman & CEO Lawrence Calcano

    12/23/2025

    Alts Pulse Ep. 18: Taking the pulse of private markets with iCapital Chairman & CEO Lawrence Calcano

    Welcome to the 18th episode of the Alts Pulse, a collaboration between iCapital x Alt Goes Mainstream.  In the latest episode of the Alts Pulse, a live conversation in studio with Lawrence Calcano, the Chairman & CEO of iCapital, Lawrence and I go global. We discussed his recent trip to Asia to peer into the nuances of the different wealth management markets around the globe. As the leader of a platform with over $300B of assets that is responsible for the majority of individual and advisor-led investment flows into the alts space, Lawrence and iCapital have their finger on the pulse of what’s happening in private markets across the globe. Lawrence and I had a fascinating discussion. We covered: Lawrence’s recent trip to Asia and the pulse on the ground.Asia’s growing interest in private markets.How wealth management market structures differ across the globe and what it means for alternatives distribution.Data-driven personalization for investors.Thanks Lawrence for a great conversation … look forward to the next episode! Show Notes00:00 Introduction to the Latest Episode of the Alts Pulse 00:18 Insights from Asia 00:40 Comparing Asia and US in Private Markets 01:43 Wealth Management Market Structure 02:06 iCapital's Focus on Technology 02:49 Advisors' Allocation to Alternatives 03:13 Evergreen Products and Client Needs 03:53 HSBC and iCapital Surveys 04:22 Global Adoption of Evergreen Products 05:13 Distribution and Education in Private Markets 06:15 Model Portfolios and Custom Exposures 08:03 Strategic Distribution for GPs 08:19 Global Distribution Expansion 12:33 Personalization in Wealth Management 14:01 Data-Driven Personalization 14:45 Private Banks and Alternative Allocations 16:37 Thoughts About GPs and Distribution 17:24 Balancing Personalization and Scale

    19 min
  8. EQT's Conni Jonsson - building a global private equity firm the Nordic way

    12/20/2025

    EQT's Conni Jonsson - building a global private equity firm the Nordic way

    It all comes back to the DNA. The firms that know who they are will know who to be. You can learn a lot about an investment firm by listening to what they say. Alt Goes Mainstream’s AGM Originals Series - The DNA: Capturing Culture - is dedicated to capturing the DNA of a firm by listening to what they say. The first season of The DNA stars EQT. In Stockholm, at EQT’s AIM this past summer, I sat down for conversations with nine EQT executives. Each executive came from different parts of the firm — and different parts of the world. Each had fascinating backgrounds and stories about how they ended up in private markets and worked to build EQT. But there was a single throughline threaded throughout all of the discussions: the consistency and frequency that each executive talked about the firm’s mission, vision, culture, and values. That’s why it all comes back to the DNA. Episode 1 features EQT Founder and Chairperson Conni Jonsson.  Conni founded EQT Partners AB in 1994. He has been Managing Partner since the company's foundation and as from March 1, 2014, Conni is full time working Chairperson. Prior to founding EQT Partners AB, Conni was employed by the Wallenberg Family Holding Company for seven years as Executive Vice President. Conni Jonsson graduated from the University of Linkoping in 1984, Bachelor of Science with majors in Economic Analysis and Accounting & Finance, and he has participated in the Program for Management Development at the Harvard Business School. Please enjoy this conversation with one of the industry's leaders in Conni Jonsson. You can stream all the episodes on AGM’s YouTube channel at AltGoesMainstreamAGM. Show Notes   00:00 The DNA: Capturing Culture Episode 1 00:21 EQT's Origins and Global Reach 01:38 Conni Jonsson's Background and Journey 02:00 Founding EQT: Embracing Uniqueness 04:03 Balancing Responsibility and Financial Outcomes 05:09 The Wallenberg Family's Influence 06:36 Long-Term Thinking in Investing 07:20 Operationalizing Long-Term Values 08:13 EQT's Distinct Investment Approach 10:12 The Importance of Culture in Business 11:28 EQT's Focus on Core Competencies 12:53 Global Investment Strategies 13:20 Engaging with Institutional and Wealth Investors 14:15 Educating the Wealth Channel 17:10 Diversification and Global Exposure 18:19 Investing in Asia: Structural Alpha 20:40 Mitigating Political Risks 20:47 Future Skills in Private Markets 22:51 Aligning Good Business with Good Returns 24:38 Conclusion: The Winner Takes It All

    26 min
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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 at the intersection private markets and wealth management. AGM dives into investment strategies like private equity (PE), private credit, venture capital (VC), secondaries, GP stakes, infrastructure, real estate, wealth management, and comprehensively covers tools and frameworks for approaching private markets, such as asset allocation, evergreen funds, model portfolios, and more. For anyone looking to invest into private markets (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 asset managers firms, and wealth management firms. 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.

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