business
401(k) expansion into private markets – why brand will determine the winners
Key takeaways
- For alternative asset managers, the potential allocation to private markets by retirement plans represents a major business opportunity.
- Firms such as Blackstone, Apollo and KKR, long focused on institutional investors and ultra-high-net-worth clients, are now preparing for a much broader audience.
- But while the opportunity is substantial, the challenge is equally significant.
For alternative asset managers, the potential allocation to private markets by retirement plans represents a major business opportunity.
Firms such as Blackstone, Apollo and KKR, long focused on institutional investors and ultra-high-net-worth clients, are now preparing for a much broader audience.
But while the opportunity is substantial, the challenge is equally significant. Retirement savers are not institutional allocators, and 401(k) plans are not sovereign wealth funds. This shift changes the basis on which firms compete. Performance and institutional pedigree still count of course, but as private markets move into advisor-led channels – awareness, education and differentiation become increasingly important.
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