Alternative Allocations with Tony Davidow
Episode 19: Special feature: Private markets outlook
15 Jan 2025
This special episode of Alternative Allocations features host Tony Davidow and guests Richard Byrne of Benefit Street Partners, Taylor Robinson of Lexington Partners, and Rick Schaupp of Clarion Partners considering the forthcoming landscape of private markets. The conversation hones in on the role of secondaries in private equity, present and future trends in real estate, and the opportunities in real estate debt. It explores the necessity for liquidity in private markets, the portfolio-strengthening attributes of private real estate, and the potential of real estate credit within the multifamily housing sector. The episode further dissects macroeconomic shifts, such as demographic transformations and advances in e-commerce and healthcare, along with the impact of interest rates on valuations. *********** Richard Byrne is President of Benefit Street Partners, a Franklin Templeton Company, and serves as Chairman and Chief Executive Officer of Franklin BSP Realty Trust, Inc. (NYSE: FBRT), Benefit Street Partners Multifamily Trust, and Franklin BSP Capital Corporation. He is an influential thought leader and frequent speaker on many topics including commercial real estate debt, highlighting investing opportunities and risks in CRE lending. Taylor Robinson is a Partner of Lexington Partners, primarily focused on sourcing, negotiating, and executing secondary transactions. Taylor joined Lexington Partners in 2008 from JPMorgan, where he was in investment banking and leveraged finance. Aside from his investment focus and other Firm responsibilities, he is a member of Lexington's ESG steering committee and Franklin Templeton's global Stewardship & Sustainability Council. Rick Schaupp is an equity owner and Managing Director with Clarion Partners and leads the Portfolio Management teams for a number of client accounts, including the Clarion Partners Real Estate Income Fund (CPREX) and Clarion's value-add/opportunistic platform. As lead Portfolio Manager, Rick has overall responsibility for the management and portfolio strategy of these relationships. He also leads product development for private wealth clients. From 2005-2012, Rick was the assistant portfolio manager for the Clarion Ventures series and a separate account relationship. Rick has participated in the acquisition, asset management, and development management of over $4 billion of real estate. He originally joined Clarion Partners in 2000 and began working in the real estate industry in 1995. *********** Enjoying Alternative Allocations? Please take a moment to rate and review us. Your feedback helps us deliver more insightful episodes on alternative investments! Resources: Richard Byrne | LinkedIn Taylor Robinson | LinkedIn Rick Schaupp | LinkedIn Alternatives by Franklin Templeton Tony Davidow, CIMA® | LinkedIn
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