Shane Clifford, Head of Global Wealth for Carlyle, joined Julie Cooling, Founder and CEO of RIA Channel, at the CAIS Summit to discuss how providing advisor education is likely to lead to growing allocations to private market investments.
Carlyle has a strong and long-tenured presence in the wealth channel. While Carlyle started managing funds in the drawdown structure but now offers evergreen funds to bring its best-in-class investment capabilities to the wealth channel. Carlyle offers evergreen funds in private credit, private equity, and secondaries. The Carlyle brand is synonymous with private equity.
Carlyle is offering educational material on its website, as Clifford believes that individual allocations to private markets are in the first or second inning. When listening to advisors, Clifford hears that advisors enjoy educational videos that are presented in five minutes or less. Over the next three to five years, most private market firms are expected to dedicate substantial resources to investor and advisor education, which could parallel growing allocations to private markets in advisor portfolios.
Today, the vast majority of interest is coming from the private client channel, whether at the wirehouses, RIAs, or IBDs. Over the next three to five years, Clifford expects that flows could increase and insurance companies, while managers are searching for the right vehicle to access flows from defined contribution plans.
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