Everyone seems to be buzzing about evergreen funds these days. In response to this growing intrigue, Alt Goes Mainstream has teamed up with iCapital and their Co-Founder and Managing Partner, Nick Veronis, who also heads Portfolio Management, to explore this evergreen topic. They’ve brought some heavy hitters from the private markets sector to the table.
In this insightful three-part series, you’ll hear from experts at Vista Equity Partners, KKR, and Hamilton Lane as they delve into one of the most rapidly expanding segments in private markets and its influence on wealth management.
We invite you to tune into the second episode where Nick and I sit down with Doug Krupa from KKR. It promises to be an engaging conversation you won’t want to miss.
You can catch the episode on your preferred platform:
Here’s a sneak peek at what’s covered in the conversation:
- We kick off with Doug’s background and his initial steps in the industry at 00:23.
- At 01:12, Doug shares what drew him to private markets.
- Insights from union pensions are explored at 02:02.
- At 03:01, the discussion turns to making private markets more accessible.
- Building groundbreaking solutions gets a spotlight by 03:30.
- The discussion moves to experiences within the wealth channel at 03:58.
- Delving into private markets’ challenges at 04:21.
- Solutions to pain points are considered at 05:03.
- Exploring KKR’s partnership approach at 05:46.
- At 06:41, we discuss KKR’s dedication to the wealth channel.
- By 07:56, Doug breaks down the conglomerate model.
- The evolution of wealth channel products is detailed at 08:46.
- Investment experiences are a focus at 09:36.
- We dive into Maslow’s hierarchy of needs applied to the wealth channel at 10:48.
- Unlocking access to private markets is covered at 12:04.
- The pros and cons of evergreen structures versus closed-end funds come up at 14:32.
- How investor behavior shifts within these evergreen structures is explored at 19:39.
- By 20:15, we’re discussing the swift uptake of evergreen strategies.
- At 23:43, the dialogue shifts to educating the industry about evergreens.
- The discussion then pivots to private markets versus alternatives at 29:08.
- A look ahead at private markets’ future is shared at 31:50.
- Market structure is examined for its evolutionary shifts at 32:40.
- Partnerships and hybrid products take the stage at 32:55.
- The significance of retail investors and model portfolios is highlighted at 33:20.
- At 33:33, the focus is on demystifying private market investments.
- Core allocations and their place in private markets are discussed at 34:12.
- Discussion about key players in private markets occurs at 36:19.
- The role of capital pools and retirement accounts is dissected at 37:29.
- We talk about what makes certain products and content stand out at 37:52.
- Commitment to innovation is emphasized at 38:13.
- Doug shares a pivotal thought on evergreens in private markets at 38:26.
- Disruptive forces within private markets are addressed at 39:26.
- The rapidly changing landscape of the industry is touched upon at 39:32.
- Attention turns to private credit and various asset classes at 39:40.
- The standout players and the necessity of market education are discussed at 40:05.
- New partnership models take center stage at 41:51.
- Institutional-style pricing is evaluated at 42:33.
- Product innovation and the role of technology wrap up the discussion at 42:59.
Finally, the episode winds down with concluding thoughts at 43:50, followed by essential disclaimers and legal information at 43:59.
