There’s nothing mythical about Apollo’s newly announced collaboration with Euroclear. The global alternative asset manager has selected Euroclear’s FundsPlace® platform to bring its institutional-grade solutions across Credit, Equity, and Hybrid strategies to wealth investors. It’s the latest move in Apollo’s broader push to expand its Global Wealth business and open up private markets to a wider pool of investors.
Everyone has the own favourite Rolling Stone. Mick with the swagger, Keith with the attitude. Well there’s a new stone – or rather rock – taking front stage. AlpInvest Partners, a subsidiary of Carlyle, has raised over $4 billion for the AlpInvest Portfolio Finance platform. AlpInvest Strategic Portfolio Finance Fund II (“ASPF II”) is three times the size of ASPF I, as it looks set to scale new heights and deepen its relationships with over 380 GPs worldwide.
Developing the right playbook is vital as private capital seeks out ways to innovate and drive value in an increasingly turbulent world. Nobody wants to find themselves stuck behind the 8 ball. Like any world-class pool player, it takes discipline, skill and vision to create a long-term winning position. And focus on the ultimate prize.
CVC Capital Partners might be forgiven for seeing double. According to its first full-year financial results since it listed on Euronext Amsterdam last April, it raised EUR1.5 billion in 2024, more than doubling its private wealth assets under management. CVC’s chief executive Rob Lucas said the plan was to go plural by getting regional or country-specific distribution partners.
The private wealth revolution is surging ahead. Private market evergreen funds, or ‘semi-liquid’ funds, are the talk of the town, as wealth platforms increasing turn to private market groups to distribute their fund strategies to a wider cohort of mass affluent investors. The drawbridge to access private equity is finally lowering. It is no longer the preserve of Wall Street…now Main Street gets to enjoy the myriad advantages to investing in private assets. Assets under management are in excess of $320 billion across US- and EU- domiciled funds.
For a growing number of GPs, private wealth is a key tenet of their long-term business strategy with blue chip names such as KKR expecting evergreens to represent 50% of its fund offerings over the coming years. And while the universe of fund managers offering direct investment evergreens (investing directly in companies compared to investing indirectly through multi-GP fund products), remains modest, private banks expect it to rapidly expand.