Alternative Asset Managers
topic on 3 shows · 9 statements across 9 episodes
Invest Like the Best 
Capital Allocators 
the a16z Podcast
9 statements about Alternative Asset Managers, every show
Rowan: Alternative asset managers are limited by origination capacity, not capital
“We are not limited ultimately by capital. We are limited by our capacity to create.”
Kleinman: Most alternative asset managers scaled enough to go public already are
“There's only a handful of alternative asset managers that have the scale To go public, and the vast majority of them are public already.”
Kelly: 401(k) Plans Will Inevitably Integrate Alternative Assets
“Ultimately, we will see more partnerships between traditional asset managers and alternative asset managers that create structures like collective investment trust to be put into target date funds and for one K plans that have a mix of Liquid traditional inves…”
Lyon: Direct lending growth is driven by asset managers chasing fee-related earnings
“Now what you're seeing is those businesses are attached to a lot of very large alternative asset managers, many of whom trade on FRE. A good way to create FRE is to take several billion dollars of loans and charge one percent on them. That's what you're seeing…”
Asset manager consolidation forces firms to be mega-scale or niche
“If this space is going to go through consolidation because firms need to figure out who they want to be, they either need to be really big or really niche. What happens to the middle? What happens to that ten billion dollar manager, thirty billion dollar manag…”
Granat: Public alternative asset managers remain under-owned by institutional indexers
“And these are still, Under owned relative to like all of the big, you know, institutions that have to index that have to own these things and will continue to have to own them in bigger size as they grow.”
Alts Managers Massively Underestimate Consumer Marketing Costs for Private Wealth
“Almost none of my clients understand the amount of money and time it will take to do true consumer marketing.”
Mullen: TPG-Angelo Gordon deal marks the start of a massive M&A wave
“I think you're going to see what Angelo Gordon did with TPG is the beginning of a massive wave of this. There's a lot of mergers that are going to take place.”