Welcome back to the Alt Goes Mainstream podcast.Today’s episode is with a private markets veteran who has been working in the wealth channel before it was considered "the wealth channel."We sat down in the studio with Peter Aliprantis. Peter joined EQT in October 2024 as a Partner and Head of Private Wealth Americas. He’s hit the ground running to build out a wealth team in the Americas and help continue to grow the EQT brand in the US.Peter brings a wealth of knowledge to the private wealth solutions world, garnering over 25 years of experience in the space. Prior to joining EQT, Peter spent 12 years at TPG Angelo Gordon as a Managing Director, where he focused on new business development and intermediary distribution.Peter and I had a fascinating conversation about everything from the early days of the wealth channel to the evolution of product innovation in private markets. We discussed:What working in the wealth channel was like before it was called “the wealth channel.”How to build a new brand in a different geography.How not being the loudest voice in the room can be effective when working with the wealth channel.How education helps to serve distribution efforts and how an innovative and unique approach to education with EQT’s ThinQ platform has helped build brand, trust, and credibility.Why institutions are also beneficiaries of the innovation with evergreen structures that were initially designed for the wealth channel.How product innovation will continue in the wealth channel.How model portfolios will evolve.Thanks Peter for coming on the show to share your wisdom and expertise.Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM’s podcasts.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at [email protected] thank Ultimus for their support of alts going mainstream.Show Notes00:00 Introduction and Message from our Sponsor, Ultimus01:57 Welcome to the Podcast02:05 Introducing Peter Aliprantis02:20 Peter's Career Background03:31 Early Days in Private Wealth04:25 Changes in Wealth Distribution05:55 Post-Financial Crisis Shifts06:37 Growth of the Wealth Channel07:14 Building a Wealth Business at Angelo Gordon07:59 Convincing Firms to Invest in Wealth08:59 Importance of Investment Teams10:18 Key Skills for Wealth Channel Success12:46 Joining EQT and Brand Building13:07 Building EQT's Wealth Platform14:56 Brand Building in the Wealth Channel15:32 Expanding EQT's Presence16:10 Strategies for Engaging the Wealth Channel16:45 Segmenting the Wealth Channel19:57 Challenges in RIA Relationships20:28 Importance of Relationship Building21:25 Bespoke Products for Wealth Channel22:10 Institutional vs. Wealth Channel Products22:56 Evergreen Structures for Institutions23:20 Future Trends in Wealth Management23:27 Becoming a Solutions Provider in the RIA Channel23:47 Creating Model Portfolios25:31 The Future of Wealth Management27:04 Challenges for Smaller Firms27:38 Importance of Shelf Space28:35 Sales Strategies in Private Banks29:42 The Role of Scale in Wealth Channels30:27 Balancing Growth and Performance31:07 Global Investment Strategies and Performance33:13 Building a Brand in the U.S. Wealth Channel34:29 Differentiating in the Wealth Channel36:43 Advisory vs. Sales Approach38:18 Evergreen Funds vs. Drawdown Structures39:53 Investor Psychology and Evergreen Structures41:41 Changing Dynamics of Private Markets43:01 Family-Owned Business Culture44:30 Nordic Cultural Values45:15 Long-Term Mindset in Private Equity45:53 Building the Wealth Business46:14 Bespoke Products for Wealth Channels46:42 Seeding Evergreen Structures47:08 The Race to Win the Wealth Channel47:29 Manager Diversification47:08 The Race to Win the Wealth Channel47:59 Conclusion and Final Thoughts Editing and post-production work for this episode was provided by The Podcast Consultant.

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