Alternative Asset Titans: Schorr's Deep Dive on the Final Four

In Brief:

Glenn Schorr, Senior Managing Director and Senior Research Analyst at Evercore ISI, shares his expert analysis on publicly traded alternative asset managers in a recent "Alt Goes Mainstream" podcast episode. As a veteran Wall Street analyst who has covered the financial sector since 2000 and consistently ranked on Institutional Investor's All-America Research Team, Schorr provides a deep dive into what he calls the "Final Four" - the major players in the alternative asset management space. He examines their business evolution, market positioning, and future growth prospects during this special series designed to make private markets more accessible to the public.

Big Picture Drivers:

• Public evolution: How alternative asset managers have transformed since going public

• Market dynamics: Current trends affecting pricing and fundraising in private markets

• Consolidation: The increasing importance of scale and diversification

• Talent retention: How public firms attract and keep top investment professionals

Key Topics Covered:

• Industry transformation: The journey of alt managers from private to public entities

• Business models: Fee structures and capital deployment strategies

• Growth vectors: Geographic expansion and product diversification

• Competitive landscape: Comparative analysis of major players' strengths and weaknesses

Key Insights:

• Perpetual capital: Growing focus on permanent investment vehicles

• Retail access: Increasing democratization of alternative investments

• Regulatory environment: Impact of policy changes on business strategies

• Tech integration: How digital transformation is reshaping asset management

By The Numbers:

• AUM growth: Double-digit expansion across major alternative managers

• Fee compression: Competitive pressures affecting traditional 2/20 models

• Valuation metrics: Price-to-earnings ratios compared to traditional asset managers

• Fundraising cycles: Length and success rates in the current environment

Memorable Quotes:

• "Alternative managers have evolved from investment boutiques to diversified financial institutions." - Glenn Schorr

• "The 'Final Four' represent the pinnacle of scale and sophistication in private markets." - Glenn Schorr

The Wrap: 

Schorr's analysis reveals how the alternative asset management industry continues to mature and evolve, with the publicly traded firms leading innovation in product development, capital raising, and business model evolution. As these firms navigate market challenges, their strategies provide valuable insights into the future direction of private markets and potential opportunities for investors seeking exposure to this increasingly accessible asset class.