2025 Private Markets Outlook: Challenges & Opportunities – Alternatives by Franklin Templeton – 1.21.25

Summary:

This webinar identifies challenges and opportunities within private markets in the coming years. We have seen valuations reset from their lofty 2021 levels, and we have moved from an environment of rising interest rates and high inflation, to an environment where the Fed has begun cutting rates and inflation has come down substantially. We believe that private markets represent an attractive set of opportunities for investors, and will explore private equity secondaries, private real estate, and real estate debt in greater detail with industry experts.

Accepted for 1 CFP^® / IWI / CFA CE Credit

Speakers:

Tony Davidow is responsible for developing and delivering the Franklin Templeton Institute’s insights on the role and use of alternative investments through independent research, participating in industry conferences and webinars, and engaging directly with key partners and clients. He also serves as the host of the Alternative Allocations podcast.

Prior to his current role, Davidow was retained by Franklin Templeton to develop a comprehensive Alternative Investment educational program for financial advisors. He previously held senior leadership roles with Morgan Stanley, Guggenheim, and Schwab, among other firms.

Davidow received the prestigious Investments & Wealth Institute Wealth Management Impact Award in 2020 for his contributions to the wealth management industry; and was awarded the Stephen L. Kessler writing award in 2017, and honorable distinction in 2015. He is the author of “Goals-Based Investing: A Visionary Framework for Wealth Management” (McGraw-Hill 2020), and “Private Markets: Building Better Portfolios with Private Equity, Private Credit, and Private Real Estate” (Wiley 2025). In 2023, Franklin Templeton’s Alternative Investment education program was recognized by WealthManagement.com with a “Wealthie” award for its contribution to financial advisor success, and in 2024, the Alternative Allocations podcast was recognized with a “Wealthie” for Thought Leadership.

Davidow holds a B.B.A. degree in Finance and Investments from Bernard M. Baruch College and has earned the Certified Investment Management Analyst (CIMA®) designation.

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.

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.

Prior to joining Benefit Street Partners, Richard was Chief Executive Officer of Deutsche Bank Securities, Inc and was the Co-Head of Global Capital Markets at Deutsche Bank as well as a member of their Global Banking Executive Committee and Global Markets Executive Committee. Before joining Deutsche Bank, he was Global Co-Head of the Leveraged Finance Group, and Global Head of Credit Research at Merrill Lynch & Co. Richard earned an MBA from the Kellogg School of Management at Northwestern University, and a BA from Binghamton University. He is a member of the Board of Directors of Wynn Resorts, Limited (NASDAQ: WYNN), and New York Road Runners. He is also Founder and Chief Executive Officer of KASAI Elite Grappling Championships.

Jeb Belford, Managing Director, is the Chief Investment Officer of Clarion Partners. He is an equity owner in the Firm, chairman of the Firm’s Investment Committee, and a member of the Executive Board. From 2013-2021 Jeb was the lead Portfolio Manager of the Firm’s open-end core fund, with overall responsibility for fund management and portfolio strategy. From 2005-2012, Jeb was the Portfolio Manager for the Lion Value Fund, the Firm’s value-add investment platform. Prior to becoming a portfolio manager, Jeb was a senior member of the Firm’s Acquisitions Group, completing investments across a broad range of strategies. His background includes all key aspects of portfolio management, including acquisitions, financing and sales totaling over $20 billion in all property types and risk strategies, in markets across the U.S., Brazil and Mexico. Jeb joined Clarion Partners in 1995 and began working in the real estate industry in 1984 at Winthrop Financial Associates, Boston, MA. Jeb has a B.A. in Mathematics and Religion from Dartmouth College.