What podcasters are saying about Private markets for individual investors

Summary

In the past 30 days, 7 speakers on 7 finance podcasts discussed Private markets for individual investors in 8 views. Chorus has followed Private markets for individual investors since October 2, 2026.

Who talks about it most

• Omar Aguilar · 2
• Connor Teskey · 1
• Andy Sieg · 1
• Scott Ramsower · 1
• Paul Kearney · 1
• Danny Moses · 1
• Paisley Nardini · 1

The latest views

Newest first. Every quote is checked against the episode's transcript.

• Connor Teskey · Brookfield Asset Management

  Alternatives penetration in individual wealth, at 2% or less, is far below institutions and rising.

  Teskey argues the alternatives industry will keep growing significantly. Growth so far has come from institutional allocations rising over the last two decades, and that alone could drive industry growth for the next decade. The individual market is a second growth lever: high-net-worth investors, insurance and annuity holders, and retirement savers. Its penetration is very low, at 2% or less today, against institutional allocations in the mid-teens that could rise to 20% or 30% over time. He sees this as a durable trend rather than a fad. Alternatives offer returns, a liquidity premium, stability relative to increasingly volatile public markets, diversification as leading companies stay private longer, and private capital suited to long-duration infrastructure that produces no cash for years.

  “If institutional investors are allocated somewhere in the, call it mid teens range to alternatives and probably going up to 20% or 30% over time, that individual market is 2% or less today. In terms of directional trend line, we don't see it slowing down.”at 28:26

  Goldman Sachs Exchanges: Brookfield’s Connor Teskey on the Real Bottleneck in the AI Buildout · October 30, 2026

• Andy Sieg · Citi

  Private credit and private equity remain key long-term allocation building blocks for clients.

  Private markets have a lot of activity and opportunity that a public-only allocation misses. Clients are in the market for ten to thirty years, so Citi still sees private credit and private equity as key building blocks. The important part is having a diligence team that knows how strong managers operate. Clients are not treating them as trades. Andy says clients have been happy with the returns, and Citi keeps recommending them as part of portfolios.

  “If you just have a public market allocation, you're missing out on a lot of action and a lot of opportunity in the market place... we still see private credit and private equity as, you know, key parts, key building blocks for asset allocation.”at 32:45

  CNBC Halftime Report: Countdown to the Fed Decision 10/28/26 · October 28, 2026

• Scott Ramsower · Teacher Retirement System of Texas

  Semi-liquid quarterly PE funds for retail are the right strategy with the wrong structure; they erode the long-term horizon.

  PE's advantage over public markets is that companies can stay focused on the long term. Putting private equity into semi-liquid quarterly redemption vehicles removes that long-term horizon, since illiquidity is a feature, not a bug, of the asset class. Scott cites the saying 'private equity for the retail investors, the right strategy, but the wrong structure,' because institutional and retail investors have different risk profiles, liquidity needs, time horizons and expertise but sit side by side in the same assets. He also flags the need for hard caps on how much a commingled fund can share with a retail vehicle, because an uncapped retail allocation effectively makes the fund uncapped.

  “One of private equities advantages over public markets was that companies can stay focused on the long term. Putting these into a semi liquid quarterly redemption vehicle takes away that long term horizon. Illiquidity is a feature, not a bug of the private equity asset class.”at 34:15

  Capital Allocators: Continuation Vehicles from the LP Seat – Scott Ramsower (EP.523) · October 26, 2026

• Paul Kearney · Asset Risk Consultants

  Private clients struggle to access the top private equity returns that large institutions capture.

  Kearney says the private equity space is dominated by large institutional players that have backed the most successful firms for decades. Those institutions have access to the best managers, so individual investors cannot easily earn the same returns. He makes this point in the context of private equity dispersion: top managers are excellent, but weaker ones can underperform, and retail investors are less likely to reach the top funds.

  “The private equity space is dominated by large institutional players that have been backing the most successful firms for decades. It's very difficult for private clients to get that same type of return.”at 8:02

  Merryn Talks Money: The Portfolio Reset: Episode 2 · October 21, 2026

• Danny Moses · Moses Ventures

  Retail is getting private deals that institutions pass on, a sign of weak demand.

  Danny asks why retail investors are being offered private deals at all. His answer is that they are offered to fill deals that institutions have not taken. He compares this to IPOs that institutions avoid, where retail is stuffed with the leftover shares. He thinks the private markets are overstaying their welcome by giving retail investors access to everything institutions have, and he warns to be careful what you wish for.

  “Institutions don't pass on good deals. There's always, It's like an IPO in equities. When the IPO doesn't work, when the hedge funds and all the large institutions don't want it. And they get stuff. Stuff retail.”at 29:30

  The Real Eisman Playbook: Big Short Reunion w/ Danny Moses: Rising Rates, AI & Private Equity | The Real Eisman Playbook Ep 80 · October 19, 2026

• Paisley Nardini · Tema ETFs

  Pre-IPO exposure inside ETFs via SPVs is an exciting evolution for the industry.

  Nardini says her firm holds pre-IPO exposure through SPVs in several ETFs. She argues this is a legitimate evolution, not a marketing gimmick, since positions are chosen on fundamentals and held after IPO. She adds that SPV costs are marked into the price, with no extra management or financing fees, and that a 15% non-daily-liquid limit under the 40 Act makes such structures permissible.

  “I think this is an exciting part of the evolution of our industry.”at 49:26

  Excess Returns: The S&P 500 Is Only 50 Stocks. 70% of the Index Is in a Correction. Did the Sell-Off Already Happen? · October 18, 2026

• Omar Aguilar · Schwab Asset Management

  Alternatives belong in a diversified sleeve for mass-affluent and wealthy clients, with liquidity access improving via Forge.

  Aguilar says Schwab is pretty constructive on alternatives and that mass-affluent and wealthy clients need an extra diversification sleeve. He notes that most private-market wealth creation has gone to about 1% of the population or less, while public equity holds far more money that could access these markets. Schwab's acquisition of Forge Global, a marketplace for pre-IPO shares, is meant to let employees and founders with illiquid stock tender shares to clients who want access. He calls the result semi-private and semi-liquid, and says it is not for everybody.

  “Our belief is that for certain clients, mostly mass affluent, wealthy clients, there is a sleeve that requires that additional level of diversification and potentially opportunities.”at 32:42

  Masters in Business: Using Decision Science in Investing: Masters in Business with Omar Aguilar · October 2, 2026

• Omar Aguilar · Schwab Asset Management

  Alternatives in 401(k)s are usually too costly; only suits some clients who understand illiquidity.

  Most 401(k) platforms will soon offer a broker window with semi-liquid alternatives. These suit only clients who understand the liquidity and duration trade-offs. Most 401(k) participants mainly want growth, and the main obstacle is cost. Fixed fees over 20 years put investors behind the public market, so for the average 401(k) investor the cost of entry remains too high, though the broker window fits some clients.

  “The biggest challenge in here is for those clients that understand the liquidity that goes with it, the duration that goes into that, it is clearly a good fit. For the majority of clients with four zero one k, they only want to grow. If you actually think the biggest challenge with alternative investments still today is that the cost is much higher.”at 37:59

  Masters in Business: Using Decision Science in Investing: Masters in Business with Omar Aguilar · October 2, 2026