Private-equity firms have spent decades raking in giant sums from pension funds and other big institutions. Now they are going hat in hand to a different kind of investor: everyday millionaires.
Some of the biggest firms, including Blackstone, Blue Owl Capital, OWL, Apollo Global Management and Ares Management, have created a host of new products aimed at people with $1m to $5m in investible assets and are hiring armies of staff to market them to private banks and independent financial advisers.
Behind the effort is the recognition that institutions, which committed nearly $1.3 trillion to private markets in 2021, according to PitchBook, have all but filled up on them. Historically low interest rates since the 2007-09 financial crisis led many to swap a portion of their public stock and bond portfolios for higher-returning investments in private equity, real estate, infrastructure and credit.
Read more: LiveMint
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.