Evercore: Flow of Funds with Glenn Schorr

About Evercore: Flow of Funds with Glenn Schorr

Evercore's Flow of Funds with Glenn Schorr is a smart, timely look inside the forces shaping private markets, wealth management, and the financial institutions behind them. Hosted by Glenn Schorr, Senior Managing Director and leading equity analyst at Evercore ISI, the show features a mix of sharp market analysis, Glenn’s own perspective, and conversations with top executives, investors, and industry leaders.

Publisher

Evercore

Category

business

Language

en

Explicit

No

First episode

1 Sept 2025

Latest episode

5 Oct 2026

Latest episodes

12 episodes in the feed.

1. 

   5 Oct 2026

   11: Leaving a Mark: How Lincoln Sets The Standard for Private Valuations

   In this packed episode, Glenn Schorr and his partner Ben Rubin sit down with Lincoln International’s Global Head of Portfolio Valuations Brian Garfield for a discussion covering everything from how you put a price on a private asset that doesn’t trade, why independent valuations and proprietary data are becoming increasingly important as private markets grow, and how the rise of evergreen funds and retail participation is driving the shift from quarterly marks to monthly and even daily valuations. They also dig into how Lincoln uses its unique dataset to assess the health of private markets, what AI and automation mean for the valuation process, and how recent volatility in software is showing up in private marks. And of course, they cover current trends across private credit, including PIK and defaults, the rapid growth of asset-backed finance, and why the continued expansion of private markets creates an opportunity for Lincoln’s valuation business. Discover how private market valuations really work—and why they’re suddenly more important than ever as private capital moves into the mainstream. What does it mean to assign fair value to assets that rarely trade, and how is technology like AI reshaping the future of this process? In this episode, Glenn Schorr and Ben Rubin sit down with Brian Garfield, Global Head of Portfolio Valuations at Lincoln International, for a revealing look into the opaque world of private equity and private credit valuations. Key highlights include the competitive edge of third-party independence, the rise of daily and more frequent valuations driven by retail investment, the nuances of "willing buyer, willing seller" in illiquid markets, and how proprietary data and new technology power more accurate, transparent marks. Plus, find out why standardization, not just transparency, is the next big push in private markets. Timestamped Overview [00:00:00] Intro & Episode Goals[00:01:27] Who Hires Lincoln and for What?[00:03:31] The Evolution of Independent Valuation[00:05:19] Overview of Lincoln’s Business Lines[00:06:25] Investment Banking Synergy & Competitive Edge[00:08:06] Data Inputs, Macro vs Company-Specific[00:11:17] Demand for Transparency vs Standardization[00:13:37] Expanding Across Asset Classes & Geographies[00:16:19] Labor Intensity Differentials[00:17:15] The Meaning of Fair Value in Slower Markets[00:19:29] Competitive Landscape: Lincoln vs. The Big 4[00:22:53] AI, Automation, and Data Moats[00:26:37] Frequency of Marks, Daily and Evergreen Funds [00:30:06] Correlation (or Not) with Public Markets[00:32:01] Software as a Case Study[00:35:06] Terminal Value and Cash Flow Quality[00:37:24] Bid-Ask Spread Widening in Stress[00:38:39] Asset-Backed Finance: The Next Frontier[00:41:01] Where’s the Fastest Growth?[00:42:25] AI-Driven Risk in Portfolio Companies[00:44:06] Role of the Investment Committee Memo[00:45:17] PIK Interest: Good vs Bad and What It Signals[00:49:40] Trust in Valuations vs. Skepticism[00:53:20] NAV, Practical Expedients & Day-One Markups[00:54:46] What Makes Valuation a Great Business for Lincoln[00:56:17] Wrap-up & Thanks Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: evercoreisi.mediasterling.com/disclosure⁠ (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0)

2. 

   15 Jul 2026

   10: Choosing Wisely: Where ICG Invests and Where It Doesn't

   Discover why disciplined focus and organic growth are powering ICG’s global ascent—and learn how long-term partnerships with major pension funds and a unique balance sheet approach are setting new standards in private markets. What does it take to build a global asset manager without relying on acquisitions, and how are client relationships evolving as the industry consolidates? In this episode, Glenn Schorr sits down with David Bicarrequi and Brian Spenner of ICG to unpack the firm’s growth from $15B to nearly $130B in AUM. Hear about ICG’s disciplined expansion in the U.S., their commitment to differentiated investment strategies (especially in private credit), and why scale and performance—not just AUM growth—define their culture. The conversation covers client consolidation trends, scaling in infrastructure and real estate, partnerships like the Amundi collaboration for wealth distribution, and why ICG’s hands-on, aligned investment approach matters more than ever. Episode Highlights & Timeline: [00:00] Flow of Funds introduction; who is ICG? [01:22] ICG overview—history, growth, and organic expansion [02:31] Personal backgrounds—career journeys at ICG [03:23] The firm’s culture: organic growth, not acquisitions [04:11] Industry tailwinds and structural risks in private markets[06:23] How and why LP relationships are consolidating [08:26] Partnership-driven client structures and allocation [10:11] Where ICG is scaling and exploring new asset classes [11:30] ICG’s approach to private credit in US vs. Europe [13:43] European market complexity and ICG’s edge [16:39] US credit market, BDC redemptions, and ICG’s model [18:15] Technology exposure within ICG’s credit platform [19:23] The long-game mindset: balance of heritage and diversification [20:11] Insurance clients and balance sheet strategy [21:59] Growth and future of the asset-backed market [23:49] Daily marks and liquidity in private credit—pros and cons [24:46] ICG’s vision for wealth management and Amundi partnership [27:16] Launching new funds with Amundi; product and branding strategy [30:14] Strategic use of the ICG balance sheet for innovation and alignment [32:27] LP alignment and the impact of ICG’s balance sheet investment [33:20] Dry powder, patient deployment, and fundraising outlook [34:27] Areas of greatest growth and LP interest across ICG’s platform [35:52] Performance, reputation, and the flywheel effect [36:47] Closing thoughts and episode wrap-up Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: evercoreisi.mediasterling.com/disclosure⁠ (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0)

3. 

   24 Jun 2026

   09: SEI: The Connective Tissue of Modern Finance

   What if the “connective tissue” of asset management, fund administration, and wealth advice isn’t who you think it is? In this episode, Glenn Schorr sits down with Ryan Hicke, CEO of SEI, to pull back the curtain on a 58-year-old financial giant that’s quietly shaping the future of the industry. Find out why leading alternative asset managers are suddenly rushing to outsource, how the explosion of private credit is changing the game, and what SEI is doing to capitalize on the AI revolution. Ryan Hicke also shares candid insights on the company’s culture shift, the evolving wealth management landscape, and why transparency and speed are becoming as crucial as investment performance. Plus, a surprising connection between basketball and business success! Episode Overview:00:00 Introduction to SEI’s unique position and business mix03:08 Evolution of outsourcing in public and private markets05:39 Early adoption by private credit and asset classes07:50 Scale, client concentration, and the future of consolidation09:08 SEI’s role and growth in private credit11:15 The nuts and bolts of fund administration and daily NAV13:18 Partnerships, transparency, and the future of alternative products16:16 Collaborations to penetrate the retirement and wealth channels17:46 Technical debt, infrastructure, and organic growth philosophy20:09 Asset management trends and fee pressure22:29 Growth areas: tax optimization, digital infrastructure, AI25:31 Data, automation, and the disruptive force of AI29:14 Defending the moat: Incumbency, Copilot, and strategic culture32:29 Cash sweep modernization and tech for wealth managers33:51 Stratos acquisition: rationale and long-term strategy36:36 Scaling Stratos and the “enterprise RIA” trend38:27 Balancing advisor relationships with internal growth40:07 Lightning round: tokenized funds, international expansion42:29 Leadership transition, culture change, and core priorities44:29 Growth drivers for the next few years44:47 The basketball-biz connection—finishing with heart Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: evercoreisi.mediasterling.com/disclosure⁠ (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0)

4. 

   29 May 2026

   08: Software, Soft Where? How Vista Equity Partners Is Evolving In The AI Era

   In this packed episode, Glenn Schorr sits down with Vista’s President David Breach for a discussion covering everything from how AI won’t kill software, but in fact make it better, how the power of incumbency is helping software adapt, embrace and be the delivery mechanism for agentic tools, and how the industry is looking to rearchitect pricing strategies as we moved from the software-as-a-service world to one of software-as-a-worker. And of course, covered current trends across software private equity and how Vista is thinking about the upcoming debt maturity wall. **Episode Timestamped Overview:** 00:00 Introduction and episode setup 02:07 Vista Equity Partners overview and business model 05:15 David Breach’s unique professional background 07:20 Market anxiety, public perception, and the GenAI “elephant in the room” 13:14 Comparing SaaS/cloud shift to today’s AI transformation 16:34 How to regain confidence: KPIs and what Vista looks at 21:16 How Vista underwrites AI risk and opportunity 25:47 The power of incumbency and real-world examples 30:13 Vista’s institutionalized approach to helping portfolio companies adapt to AI 36:27 Evolving monetization: Usage vs. outcome-based models 40:42 Compute costs, hyperscaler relationships, and scale 44:20 Investment opportunities in the current market 49:35 What LPs want to know about GenAI and portfolio resilience 52:24 Exit environment and outlook for software PE 55:08 Key takeaways and closing remarks *** Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: [evercoreisi.mediasterling.com (http://evercoreisi.mediasterling.com/)/disclosure⁠](http://evercoreisi.mediasterling.com/disclosure%E2%81%A0 (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0))

5. 

   8 May 2026

   07: CLO’s Explained: How they Work and What Drives Returns with Lauren Basmadjian

   Join Glenn Schorr as he sits down with Lauren Basmadjian, Partner and Global Head of Liquid Credit at Carlyle, for a deep dive into the world of CLOs (Collateralized Loan Obligations). This episode of Evercore’s Flow of Funds podcast demystifies the CLO market, covering how CLOs are structured, the mechanics of cash flow, the array of risk/return opportunities, and the evolving investor landscape.Lauren Basmadjian draws on her 25 years in the industry to explain how CLOs act as “mini banks,” why the market is so resilient, and which types of investors are drawn to each tranche.Whether you’re new to structured credit or a market veteran, this episode delivers insights into one of today’s most dynamic asset classes. **Episode Timestamped Overview:** 00:00 Welcome and Introduction 00:16 Lauren Basmadjian Background & Carlyle's Liquid Credit Platform 03:01 CLO Structure Explained 05:18 CLO Tranches: Risk, Return, and Investor Profiles07:50 CLOs vs. Other Securitized Products 09:27 CLO Fees, Resets, and Manager Upside12:13 Scalability and Managing Large CLO Platforms 14:12 Banks’ Role & Loan Sourcing 15:34 Who Buys CLO Tranches? 18:22 Risk Retention & Equity Tranche Limiting Factors 20:35 Managing CLO Credit Risk & Recovering from Defaults 22:59 Performance, Active Management, and Avoiding Defaults 25:06 Structural Protections: OC Test 26:12 What Defines "Good" CLO Performance? 27:30 Biggest Risks for CLO Investors 28:26 Default & Recovery Rates in CLOs 29:15 Liability Management Exercises (LMEs) Explained 30:43 Risks to Managers—Fees and OC Breaches 32:24 Reinvestment Risk & Market Conditions 34:03 Major Manager Mistakes and Importance of Position Sizing 34:52 Pricing, Returns, and Volatility's Silver Lining 37:29 Measuring CLO Manager Performance 38:26 Market Growth, Resets, and Industry Dynamics 40:01 Direct Lending, Tailwinds, and Supply/Demand Trends 42:16 Credit Cycles and Current Portfolio Data 44:18 Default Rates: Now and Ahead 45:51 Where the Losses Typically Land in CLOs 47:32 What Differentiates Top CLO Managers 49:13 Carlyle’s Loan Sourcing & Bank Relationships 51:23 Marketing Performance and Opportunities for Growth52:33 Looking Forward: Trends and Fee-Paying Opportunities53:55 Speed Bumps & The State of the Software Sector 57:40 AI at Carlyle: Real World Applications 59:21 What Could Really Change the CLO Market 60:35 European Capital Rules & Insurance Investors 60:45 One Big Misunderstanding: CDOs vs. CLOs 61:02 Wrap Up and Closing Remarks Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: [evercoreisi.mediasterling.com (http://evercoreisi.mediasterling.com/)/disclosure⁠](http://evercoreisi.mediasterling.com/disclosure%E2%81%A0 (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0))

6. 

   17 Apr 2026

   06: Steve Eisman's Perspectives on Private Credit & Why It's Probably Not 2008

   Glenn Schorr welcomes legendary investor Steve Eisman, renowned for his market-shaking calls before the global financial crisis, to uncover what could be brewing beneath the so-far “safe” surface of private credit and direct lending. Journey through key moments where Steve Eisman was years ahead of consensus on everything from the dismantling of Glass-Steagall to the demise of subprime lending, to the heart of 2008 itself. Together, they break down why today's market "is not a leverage story," how unprecedented exposure in private credit may drive a rolling cycle of restructurings, and whether the industry’s golden age of growth has been a genius move—or just a mirage in the absence of a credit cycle. Gain insight into why strong banks may avert systemic disaster, why private equity’s “lack of volatility” is an illusion, and how AI, receding software multiples, and refinancing walls could force the next big reckoning—not just bad vintages. Full of candid stories, historical lessons, and unfiltered opinions, this episode gives you a rare view into both the vigilance and optimism needed for today’s markets. Episode Timestamped Overview: 00:00 Introduction: Who is Steve Eisman and why his calls matter01:32 Glass-Steagall, broker M&A, and early career inspiration06:01 The fall of consumer finance companies and the power of granular data12:06 The Great Financial Crisis: inside stories and data vs. narrative18:05 Today’s private credit: what’s different, what’s at risk21:17 Hidden leverage and stress points: software, refinancing, and AI28:35 Resilience in the US economy and historic loss rates31:08 Why this isn’t a leverage crisis—mistaking no credit cycle for genius33:45 Volatility washing in private equity and the illusion of low risk39:30 Will bad vintages become great opportunities? Institutional and retail impact40:11 Closing reflections: Is there a forest through the trees today—or just a period of market adjustment? Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: evercoreisi.mediasterling.com/disclosure⁠ (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0)

7. 

   15 Jan 2026

   05: Unlocking Alpha in Cash: MaxMyInterest Founder Gary Zimmerman

   What if you could eliminate the anxiety of chasing the highest yield on your cash—and earn thousands in extra income without ever switching banks? In this episode of Evercore's Flow of Funds, host Glenn Schorr sits down with Gary Zimmerman, founder and CEO of MaxMyInterest, who reveals the secret to turning cash—a supposedly “boring” asset—into a source of meaningful alpha. You’ll hear how a former investment banker’s frustration during the 2008 financial crisis sparked a fintech platform now managing cash for clients from the “bottom 98% of the top 1%” to ultra-high-net-worth households. Gary Zimmerman shares why most advisors vastly underestimate how much cash their clients really hold, and how Max has solved the friction that keeps investors from maximizing yield and safety. He also provides eye-opening insights into the evolving world of AI in banking, the misperception of “too big to fail” banks, and the real reason why banks and RIAs alike are embracing Max as a friend—not a foe. Key highlights: The origin story: how a near-bank-failure sparked a $40k alpha opportunity (Gary Zimmerman) Why cash “alpha” is a real—and neglected—source of returns How Max helps clients, advisors, and banks win at the same time, without disrupting existing relationships The behavioral blind spots around cash—exposed with hard numbers Real talk on AI, cybersecurity, tokenization, and the future of digital banking Episode Overview 00:00 – Introduction to Evercore’s Private Markets and Wealth Forum 00:16 – Glenn Schorr introduces Gary Zimmerman and tees up the cash alpha topic 02:03 – What is Max? The purpose, origin, and how it works 06:38 – Growth journey, friction points, and how Max found its market 12:17 – Value for clients, advisors, and banks—and why Max is friend, not foe 19:49 – Rates, performance, and concrete value for end clients 21:25 – Max Private: New offering for RIAs and UHNW clients 26:35 – Real-time settlement, behavioral economics, and cash management 29:13 – The role (and limits) of AI in banking, and cybersecurity issues 33:19 – Tokenization, stablecoins, and the risks of new digital products 38:48 – Max vs. brokered sweep solutions—lower risk, more control 40:11 – Industry rate cycles, customer apathy, and Max’s steady value 42:16 – Too big to fail, due diligence, and how Max protects clients 48:39 – Pricing, how Max makes money, and no conflicts of interest 50:56 – Global possibilities vs. massive US opportunity 53:23 – One-click consolidated tax reporting and ease of use 54:05 – Closing thoughts and summary Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: evercoreisi.mediasterling.com/disclosure⁠ (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0)

8. 

   15 Dec 2025

   04: An Inside Look Into The World of Systematic Credit with Acadian Asset Management

   What if we told you that only around 1% of the massive $17 trillion corporate credit market is managed systematically—leaving a huge opportunity for those who dare to innovate? In this episode of Evercore's Flow of Funds, host Glenn Schorr sits down with Kelly Young, CEO of Acadian Asset Management, and Scott Richardson, Head of Systematic Credit, for an eye-opening look into the world of systematic credit investing. You'll get a behind-the-scenes view of how Acadian leverages advanced data science, machine learning, and transparency to bring rigor and discipline to credit markets. The guests break down what sets their approach apart from traditional managers, discuss the explosive growth and future potential of systematic credit, and address common misconceptions about AI and “black box” investing. Plus, you'll hear candid insights on the rise of private credit and what environments foster alpha in systematic strategies. Key highlights: Why systematic investing is poised for major growth in credit markets What “black box” really means—and why Acadian opens the lid How AI and machine learning enhance but don’t replace human insight The advantages of being a liquidity provider in fixed income markets Where institutional investor demand stands today, and the road ahead Timestamped Overview: 00:00 - Introduction and episode goals 01:17 - Acadian Asset Management overview & systematic investing defined 02:54 - Key differentiators and transparency vs. black box 04:01 - Scott Richardson’s background and systematic credit introduction 05:19 - What is systematic credit and why does it matter now 07:08 - Market size, active vs. passive, and potential opportunity 09:25 - Factors and security selection—building uncorrelated portfolios 11:02 - Private credit trends and the effect on public markets 14:38 - Market conditions: alpha vs. beta, environments for success 16:48 - Capacity constraints and liquidity 18:08 - AI, machine learning, GenAI—how tech fits into investing 20:11 - Leveraging Acadian’s data and technology platforms 22:14 - Analyst roles and process transparency 24:17 - Institutional investor perspective and education 26:16 - Systematic vs. passive: alpha and market positioning 27:11 - The future of systematic credit and Acadian’s vision 28:44 - Liquidity, scale, and closing thoughts 29:03 - Outro and disclaimers ** Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: https://evercoreisi.mediasterling.com/disclosure⁠

9. 

   15 Nov 2025

   03: Demystifying Alternative Credit and Asset-Backed Finance with Ivan Zinn of Blue Owl

   What if the hidden backbone of America’s Main Street—the massive, complex world of asset-backed finance and alternative credit—was not only bigger than you imagined, but also teeming with overlooked investment opportunities? In this episode of Evercore's Flow of Funds, host Glenn Schorr sits down with Ivan Zinn, the head of alternative credit at Blue Owl, to give listeners a rare, behind-the-scenes look at how the alternative credit landscape is evolving and why its $10+ trillion market is “hiding in plain sight.” Key highlights include: The true scale and diversity of alternative credit and asset-backed finance, and how it powers the everyday economy. Why banks have largely stepped away from this space—and why private market lenders (with the right data and discipline) are poised to take their place. How Ivan Zinn and Blue Owl approach risk management, data science, and partnership to consistently deliver high yields with low credit losses—even during economic slowdowns. The competitive barriers, required skillsets, and why this market remains difficult for new entrants to truly scale. What investors and LPs should expect as the asset-backed finance world matures, and how allocation trends are changing across institutional and wealth channels. Dive in to learn why volatility is sometimes an asset, how careful “box-building” and portfolio construction drive resilience, and what the next wave of alternative credit could mean for portfolios seeking diversification and yield. Episode Overview 00:00 Introduction & Goal Setting 01:26 Ivan Zinn’s Background & Adélaïde’s Evolution 03:21 Strategic Shift & Blue Owl Partnership 05:27 Defining & Sizing Alternative Credit 08:05 Asset Class Buckets: Financial, Hard, Other 10:03 Where Financing Happens Now—Bank Exit, Private Market Entry 17:07 Economic Volatility & Finding Value 21:38 Risk Management, Dynamic Forward Flow & Data Science 30:06 Competitive Landscape vs. Direct Lending 35:20 Quant Team, Asset Surveillance & Picking Up Early Warning Signs 38:21 Loss Ratios, Underwriting Through Cycles 43:05 Interval Fund Launch & Portfolio Construction 46:35 Allocation Trends—Fixed Income vs. Alternatives 50:48 Educating the Wealth Channel & Future Opportunity 53:36 Closing Remarks & Outro *** Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: http://evercoreisi.mediasterling.com/disclosure⁠

10. 

    15 Oct 2025

    02: Wealth Management Unplugged: Team Structure, Tax Strategies, and Alternatives with UBS Experts

    What if the most powerful wealth strategy isn’t about how much you make, but how much you keep? On this episode of Evercore's Flow of Funds, host Glenn Schorr sits down with elite UBS advisors Nick Pepe and Joe Vogler, who reveal the surprising engine driving massive value for clients: strategic tax planning and holistic wealth coordination that goes far beyond traditional investing. You’ll discover how this high-performing team turns complex challenges—like business liquidity, intergenerational wealth transfer, and alternative investments—into streamlined, high-touch solutions for 150 ultra-wealthy families. Learn how “tax alpha” can beat market returns, hear real examples of game-changing philanthropic strategies and estate setups, and get the inside scoop on how the industry’s most successful teams stay ahead. Key Highlights: The hidden math problem facing today’s wealth advisors How lending and creative cash management separate great advisory teams from the pack Why ultra-wealthy clients are embracing private investments and how to access these “velvet rope” opportunities Actionable insights on trust, estate, and multigenerational planning—making technical topics practical for any listener Episode Overview: 00:00 Introduction and the UBS team’s structure 01:30 How they “quarterback” all aspects of client wealth 02:26 Fee structure and value-added services 03:10 Business owner and lending support 05:33 Tackling taxes: philanthropy, transfer & tax alpha 06:01 Career journeys and UBS home office resources 09:05 Lending’s critical role in client relationships 11:14 Evolving cash management in a rising rate environment 13:32 Demographic shifts: advisor aging, next-gen training 16:13 Tax-aware investing and direct indexing explained 21:12 Asset location and the magic of PPVAs 26:38 Private markets & alternatives: why, what & how 33:13 Estate planning, real-life strategies, and teaching moments 39:11 Closing thoughts & episode wrap-up Tune in for practical wisdom and behind-the-scenes insights that could change how you think about wealth—forever. ** Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: evercoreisi.mediasterling.com/disclosure⁠ (http://evercoreisi.mediasterling.com/disclosure%E2%81%A0)

11. 

    15 Sept 2025

    01: The Power of The Platform: Morgan Stanley’s Jed Finn and Alison Nest

    What if we told you that Morgan Stanley’s alternative investments platform only lets less than 10% of the funds they review onto their shelves—and that this selectivity is exactly what's turning the entire wealth management industry on its head? In this episode of the Private Markets and Wealth Forum with Glenn Schorr, you’ll hear how Morgan Stanley’s scale, innovation, and relentless dedication to client outcomes have transformed its alternative investments business from a select group of power users raising $6-$7 billion a year, to a game-changing platform managing over $250 billion. Jed Finn, Head of Wealth Management, and Allison Nest, Head of Investment Solution Products, pull back the curtain on how their team’s relentless focus on operational due diligence, open architecture, and customized product development sets them apart. Discover why over 70% of Morgan Stanley advisors now utilize alternatives, how major growth initiatives are pulling in first-time users, and what they believe the future holds for competition, democratization, and product innovation in private markets—even as “passive” investing tries to find its foothold. Key highlights you can’t miss: The secret “special sauce” behind Morgan Stanley’s ALTS platform and why it’s fueling exponential growth How exclusive, first-access deals and relentless due diligence protect clients and change the industry’s risk calculus The real story on RIAs, custodians, tech-enabled platforms, and why Morgan Stanley will never “white label” its advantage Eye-opening innovation: Single-ticket, turn-key alt solutions lowering the barrier for clients and advisors alike The candid outlook on fees, manager selection, and why alternatives are still sold—not bought Timestamped Overview: [00:00] Intro & episode framework [00:16] Meet Jed Finn, Allison Nest, and an overview of Morgan Stanley’s wealth platform [03:09] Allison Nest’s background & journey in building the alts business [06:19] The “special sauce” of Morgan Stanley’s alternative investments organization [08:46] Why operational due diligence is a true differentiator [10:57] State of the platform: assets, penetration, and advisor adoption [13:13] Strategies to drive further adoption—education, ease, and innovation [16:04] Single-ticket ALTS innovation and client outcomes [20:29] How selective is the platform? Due diligence and manager onboarding [25:01] Relationship model with asset managers & servicing the platform [28:36] RIAs, democratization, and why Morgan Stanley’s scale is hard to match [33:10] Why Morgan Stanley will never be a white-label backbone [34:24] Alternatives in retirement channels & target date innovation [36:49] Fees, competition, and replicating institutional pricing [38:35] Will passive investing ever disrupt private markets? [42:41] Closing: Outlook for ALTS penetration and Morgan Stanley’s growth path *** Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52nd Street, New York, NY 10055, and at the following site: https://evercoreisi.mediasterling.com/disclosure⁠

12. 

    1 Sept 2025

    00: Evercore's Flow of Funds Unveiled

    What if the public markets you thought were the center of finance... are no longer the only markets that matter? Get ready to discover why trillions of dollars are quietly migrating into alternative assets—and what this seismic shift means for everyone from financial advisors to everyday investors. In this kickoff episode of the Private Markets and Wealth Forum, host Glenn Schorr uncovers the ongoing transformation in capital markets: companies staying private longer, private credit competing with banks, and the rapid "democratization" of alternative investments. You'll learn how the blurring lines between public and private, institutional and retail, and asset versus wealth management are fundamentally reshaping the financial landscape. Plus, Glenn Schorr previews provocative questions future episodes will tackle—like whether private credit is becoming the new banking system, and if semi-liquid funds are the next great ETF innovation or the next liquidity stress test. If you're looking to understand the forces driving change across private markets and wealth management—beyond just the headlines— PMWF will be your first stop. *** Applicable current disclosures regarding the companies discussed in this video are available at the offices of Evercore ISI: 55 East 52ndStreet, New York, NY 10055, and at the following site:  https://evercoreisi.mediasterling.com/disclosure (https://evercoreisi.mediasterling.com/disclosure)

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Apple Podcasts (US)

5.0 / 5

4 ratings

Spotify

5.0 / 5

7 ratings

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