Morgan Ratcliffe

On the latest iCapital x Alt Goes Mainstream Monthly Alts Pulse, iCapital Chairman & CEO Lawrence Calcano and I welcome a special guest - Hightower Advisors Managing Director, Head of Alternative Investments Robert Picard - to discuss the operational challenges and solutions in private markets. In this episode, Lawrence, Robert, and I discuss: * 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 Robert for joining us on the show for a fantastic discussion!

71

2 Comments

Great discussion covering the opportunities and paradoxes in today’s financial markets!

1

Bob Aber passed away. He was former General Counsel of Nasdaq and headed the Strategic Initiatives Group for the Corporate Client Division (listed companies). There was no better friend or public servant. I loved Bob. He was such an asset to us at Nasdaq. He and I worked through the aftermath of June 30 Triple Witching debacle when developers accidentally launched software into the live market instead of their sandbox. I was flying back to New York from San Francisco. I had an empty voice mail box when I took off. A full one when I landed. The errant software had kicked Nasdaq market makers out of the market. All that was left was electronic trading. Our listed companies had their shares trade up and down dramatically off market in price. We quickly learned what a big problem it was for issuers: Stock option plans were priced off the June 30 close. Stocks had closed up or down 6 points diluting the founders (down) or depriving employees of the benefit of the bargain by overpricing the plan. Bob's encyclopedic knowledge of the rules was indispensable and we called every one of the Nasdaq-100 affected companies to practice damage control and educate them about what we could and could not do due to SEC rules. There was no one better to be in the trenches calling our Nasdaq-listed companies and he did it all the way through late the 4th of July Eve picking up listed companies on the West Coast into the night. We were the very last people in the office. The building was empty as everyone else was long departed to celebrate the holiday. Exceptionally intelligent. Exceptionally knowledgable. Hard working. A resource. Nasdaq through and through. https://lnkd.in/e-g7gU7b

79

26 Comments

Do join Robert Sears and me for this episode of Capital Generation Partners Talking Capital where we talk about: • US Consumer: what is the state of consumption in the US and how does wealth disparity impact the consumer segment? • Copper: what does the recent rise in copper prices indicate and how should investors consider copper within the context of a portfolio? • Quantitative investing: what is Jim Simons' legacy and how should investors should think about quantitative investing more broadly? https://lnkd.in/eXz7Zc2A

13

"More brains, less brawn." This was my answer to what has changed the most over the past few years in M&A. While some industry sectors still follow a more traditional auction approach… Targeted auctions are leading to higher multiples in others. Especially with more niche businesses requiring specialized analysis. For precision manufacturers and others fitting this description, that’s where GVC comes in.

14

1 Comment

Warburg Pincus LLC named WP insider Jeffrey Perlman as CEO, succeeding Chip Kaye who will move on to be Chairman. Perlman has a 17-year background at the firm in real estate and overseeing #SoutheastAsia and business across #AsiaPacific. Reuters reached out to us this morning for our thoughts in an insightful article by Pritam Biswas. QUOTED EXCERPTS Perlman's background at the firm "means that he has strong international ties and may hint at the importance of emphasizing Asia as a continued growth area for Warburg over the next decade or two", said Michael Ashley Schulman, a partner at Running Point Capital Advisors. "I believe what most people will watch for is if he leads the company toward going public like KKR, #Ares, #Apollo, and #Carlyle," Schulman said. ~~ #privateequity #WarburgPincus #familyoffice https://lnkd.in/g58EGcYp ~~ Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Past performance is not indicative of future results. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-24-101

20

5 Comments

Great insights for institutional and individual investors alike.

12

A great article by Michael Swinsburg on the evolving role of the COO, highlighting how they are transitioning from behind-the-scenes to front-facing leaders, managing diverse teams and geographies to drive strategic growth and innovation. The focus on resilience, renewal, robustness, and relationships is spot on, particularly in today’s complex and fast-changing landscape. https://lnkd.in/gjcjJqZW

14

FundFire Alts: Hedge Funds Urged to Prepare for a Non-Compete Clause Ban A pending rule change may not survive court challenges, but managers must be ready for a range of outcomes; however, we have not seen these concerns affect hiring trends. "Firms continue to build out quantitative and technology capabilities around machine learning in large data sets, often non-financial in nature, and the implementation of large language models on the same front," George Wilbanks remarks. Great reporting by Christopher Larson! https://lnkd.in/ect6j6yu #alternatives #hedgefunds #hiringtrends

4

[New Compounders Podcast] I rarely come across anyone as thoughtful and articulate as this week's guest, Bogumil Baranowski, the Founder of Blue Infinitas Capital. Many of you may know Bogumil as the host of the Talking Billions podcast, but he is also an accomplished author and runs an RIA focused on wealthy families. In this fun and philosophical conversation, we covered: ·      The founding inspiration for Blue Infinitas Capital; ·      What types of clients he hopes to attract to his new firm; ·      The types of companies Bogumil gravitates toward; ·      The value he derives from writing books; and ·      How you invest if you have an infinite time horizon; Please enjoy the interview here: https://lnkd.in/gK5KFFmb

10

1 Comment