- Wirehouses Tinker with UMA Platforms to Broaden Product Menus “Being able to create a personalized version of an exchange-traded fund with a custom index and integrating it with the rest of the portfolio through a unified managed account, and having the entire structure optimized for taxes, risk, protection, income and other personalized factors is the ‘next frontier,’ Scott-Hansen said.” (FundFire)
- Schwab Market Perspective: 2025 Outlook “The U.S. stock market generally did well in 2024 and may continue strong in 2025. However, we expect to see gear shifts and increased market volatility as potential policies from the incoming Trump administration combine with uncertainty about inflation and global economic strength.” (Charles Schwab)
- 2025 Private Markets Outlook “Everywhere we see clients seeking long-dated, profitable assets to match their long-dated liabilities. Industry estimates project private markets growing from $13 trillion today to more than $20 trillion by 2030.” (BlackRock)
- 2025 Private Markets Outlook “We believe that secondaries will continue to benefit from the slowed exits and institutions’ need for liquidity. We believe that private real estate valuations have come down to more realistic valuations and there are opportunities in industrials, multi-family housing and life sciences. Private credit managers are well positioned to fill the void banks have left, and to negotiate favorable terms and covenants.” (Franklin Templeton)
- Blackstone’s Wealth Boss Targets $1T in Assets “What’s next is $1 trillion, I hope. We will continue to build this business into something even more scalable. I put out the $250 billion target based on what I thought we would be able to deliver in a 10-year period, and we were able to achieve it earlier. As I go through our strategic plans and look at the opportunity set, I think we can double and triple that business over time.” (Bloomberg)
- Blue Owl co-founder seeking multiway merger to form PE investment giant “The co-founder of private capital investment firm Blue Owl is seeking to engineer a multiway merger to create a diversified alternative investment giant in the mould of Blackstone and KKR that he could ultimately take public.” (Financial Times)
- Buffalo Bills, Miami Dolphins Finalize NFL’s 1st Private Equity Investments “The Buffalo Bills and the Miami Dolphins will be the first NFL teams to sell stakes to private equity firms, the teams announced yesterday after the separate sales of non-controlling interests were approved by the National Football League. Arctos Partners L.P., a private equity firm with a focus on sports investing, will acquire a stake in the Buffalo Bills, while Ares Management will buy a 10% stake in the Miami Dolphins.” (Chief Investment Officer)
- The Future of Asset Management: ETFs, Alts, and Private Markets Reshape the Retail Landscape “Not only do we anticipate the ETF market continuing to act as a proving ground for innovation over the next half-decade, but it will also be the field on which the biggest games are most often played. Advisors certainly see it that way: When ISS MI asked advisors in July 2024 where they would prefer to invest client assets if their favorite manager offered options across vehicle types, 60% chose ETFs, up from 53% two years prior.” (Harvard Law School)
- Active ETFs Drive Growth as Issuers Shift Focus “The surge in active ETF adoption comes as 91% of ETF issuers report they are currently developing or planning to develop transparent active ETF products, compared to just 26% focusing on passive ETFs, the report found.” (ETF.com)
- What to Expect From Bitcoin in 2025 “The Trump administration is expected to play a significant role, as bitcoin enthusiasts anticipate much more favorable regulation toward cryptocurrencies. Trump has promised to make the US the new ‘bitcoin hub,’ and he’s offering leadership roles in the Department of Commerce, the Treasury, and more to figures who are seen as very supportive of the crypto industry.” (Morningstar)
- Atkins Pick Spurs ‘Optimism’ for SEC Shift on Advisor Market Alts Funds “Atkins also has strong ties to the investment management world through his compliance strategy consulting firm, Patomak Global Partners, and his role as a trustee on Cliffwater funds. That includes work with managers offering alts-focused SEC-registered offerings, as well as his work on Cliffwater's trio of interval funds, which have more than $29 billion in assets.” (FundFire)
- Why co-investment funds will likely remain a private equity niche “Despite rampant LP appetites to their growth, including a more limited investor base and the need for extensive GP networks.” (Private Equity International)
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