Welcome once again to the Alt Goes Mainstream podcast! In today’s episode, we take a close look at the intricacies of distribution and the art of building a thriving global enterprise aimed at revolutionizing the wealth sector with diverse brands and strategies.
Leading the conversation is John Sweeney, the CEO of Brookfield Oaktree Wealth Solutions. This particular division was crafted to seamlessly align the distribution initiatives between Brookfield and Oaktree brands.
[Listen on Apple Podcasts]
[Listen on Transistor]
Previously, John was at the helm of U.S. Business Development and Sales at Brookfield Oaktree Wealth Solutions. His extensive background includes roles such as Managing Director and Head of the Americas intermediary business at Oaktree Capital, and he was also president of Oaktree Funds from 2014 to 2018.
Before diving into the world of alternative asset management, John’s career was steeped in roles across alternative investments at major private banks. Prior to joining Oaktree in 2013, he was Managing Director and Head of Product Management and Development at Morgan Stanley’s alternative investments arm, and beforehand, he led product management in the U.S. for the alternative investments business at Citi Private Bank.
The discussion I had with John was both enlightening and deeply engaging. Here’s a glimpse of what we covered:
- John’s strategy for growing Brookfield Oaktree’s wealth business.
- The essential role of scale in operations.
- Insights from Howard Marks, a respected colleague at Oaktree.
- The critical importance of advisor education for the growth of private markets.
- And much more.
[Image]
A big thank you to John for sharing his insights and perspectives on private markets and the wealth channel.
Here are a few captivating segments from our conversation:
- What it’s like to watch the private markets flourish firsthand.
- The collaboration between Brookfield and Oaktree in establishing a wealth solutions business.
- Transforming challenges into key advantages.
This episode is proudly brought to you by Ultimus Fund Solutions, known for being a comprehensive fund administrator for asset managers in both private and public markets. As private markets gain traction in the mainstream, the need for sophisticated infrastructure solutions is becoming evident. Investment managers are navigating complex challenges such as intricate fund structures, specialized strategies, and stringent compliance needs, all within a rapidly evolving financial landscape.
To tackle these challenges, fund sponsors and asset managers frequently turn to Ultimus. This service provider expertly melds cutting-edge technology with personalized service to offer unique fund administration and middle office solutions to a broad client base. With over 450 clients and 1,800 funds, representing $500 billion in assets under administration, Ultimus is supported by over 1,000 professionals. They offer a comprehensive suite of services covering registered funds, private funds, public plans, as well as outsourced middle office solutions. Ultimus excels in helping firms manage the ever-evolving regulatory landscape, while continuing to meet the diverse needs of institutional and retail investors.
For more insights into how Ultimus can enhance your fund administration and governance needs, visit www.ultimusfundsolutions.com or connect directly with Gary Harris, Ultimus Executive Vice President of Business Development, at [email protected].
We extend our gratitude to Ultimus for their commitment to helping alternatives go mainstream.
[Learn more about Ultimus]
Show Notes
00:00 Introduction to our Sponsor, Ultimus Fund Solutions
01:55 Welcome to Alt Goes Mainstream
02:06 Introduction to John Sweeney
02:30 John Sweeney’s Career Background
03:58 John’s Early Career at Morgan Stanley
04:34 Evolution of Alternative Investments
05:15 Impact of Technology on Private Markets
06:43 Service and Distribution Strategies
07:36 Building Brookfield Oaktree’s Wealth Business
07:56 Importance of Client Service
09:35 Staffing and Organizational Growth
11:08 Brookfield and Oaktree Partnership
12:45 Focus on Investment Solutions
13:29 Understanding Client Needs
14:06 Wealth Channel Strategies
14:52 Focus on Real Assets and Credit
16:11 Global Expansion and Market Strategy
16:38 Challenges and Opportunities in Wealth Management
17:48 Differentiating Large GPs
18:10 Brand Building and Recognition
19:05 Effective Client Engagement
20:29 Insights and Education for Advisors
22:39 Evergreen Funds and Client Relationships
25:22 Balancing Content and Engagement
27:32 Investment Philosophy and Market Context
32:49 Delivering Returns and Income
33:02 Accessing Evergreen Funds
33:16 Compounding Returns Over Time
33:23 Thinking in Decades
33:34 Private Credit Evolution
33:48 Experience and Results
34:12 Brand and Education
34:23 Distinguishing in Good and Bad Times
34:51 Showcasing History and DNA
35:45 Brookfield Real Estate
36:07 Oaktree’s Credit Roots
36:28 Integrating Two Brands
36:48 Building Solutions Across Brands
37:16 Global Presence and Marketing
37:27 Private Wealth Arm of Brookfield
37:52 Investing in Megatrends
38:59 Importance of Scale
39:48 Navigating Wealth Channel Conversations
40:45 Competing on Different Fronts
41:35 Complementary Areas and Adjacencies
43:08 Global Expansion and Regional Strategies
43:35 Survey Insights on Alternatives
44:54 Global Opportunities in Private Markets
45:14 Regional Differences in Distribution
46:03 Building a Local Team
48:37 Building a Culture of Shared Success
49:19 Educating Advisors and Sales Teams
52:44 The Future of Private Markets and Model Portfolios
56:18 Exciting Opportunities in Real Estate and Beyond
57:41 The Appeal of Music Royalties and Human Connection
59:26 Conclusion and Final Thoughts
This episode was expertly edited and produced by The Podcast Consultant.
