U.S. Alternative Investments 2024
Projecting Retail Alternative Investments Growth
Drive Demand in New Channels
- Discover the latest trends in retail and institutional alternative investment market sizing, investment strategy, size, vehicle, distribution, and new product innovation
- Track the growth of major alternative investment platforms
- Take a deep dive into rollout and advisor use of enhanced liquidity offerings
- Understand the potential for use of alternatives via the retirement channel
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Summary
Examine the retail and institutional alternative investment landscape, including market sizing, investment strategy, size, vehicle, distribution, and new product innovation. This report includes sizing and coverage of the widest variety of products used to access alternative investments, from daily liquidity offerings to convergence zone products, as well as illiquid private equity and hedge fund products. This year’s report will continue to focus on the democratization of alternatives theme as both traditional and alternative investment managers seek to provide such allocations to retail clients and consider options including internal development acquisition of capabilities.
A Note from the Author
Unlocking the $1 Trillion Retail Opportunity
Daniil Shapiro, CFA
Director, Cerulli Associates
Bio →
Daniil Shapiro, CFA
Director, Cerulli Associates
Daniil is part of Cerulli’s Product Development practice, where he works on the identification, analysis, and reporting of asset management industry trends with a focus on exchange-traded funds (ETFs) and alternative investments.
Prior to joining Cerulli Associates, Daniil was part of the Product Management and Business Intelligence teams with the MainStay Funds, part of New York Life Investment Management. At MainStay, Daniil supported sales efforts via fund and ETF competitive analysis, product research, and development of marketing materials, as well as performance reporting. Before New York Life, Daniil was part of the risk management practice at Accenture, and held risk and compliance roles at HSBC’s investment bank.
Full biography here.
Alternatives providers perceive a tremendous opportunity to gather retail assets—Cerulli estimates there is $1.4 trillion in advisor-intermediated illiquid alternative assets and expects this to grow to $2.4 trillion in five years. Alternatives providers are optimistic, expecting assets under management (AUM) sourced from the channel to climb to 23% in the next three years, up from 13% today.
Alternatives providers and traditional managers see the potential, increasingly striking strategic partnerships to capitalize on the sizable market opportunity. According to our research, traditional manager interest in striking strategic partnerships grew in 2024, with 53% of managers reporting they currently rely on such partnerships and half (50%) planning to increase reliance—overtaking even acquisitions of alternatives shops as an avenue to offering alternative product.
Our latest issue of this report, The Cerulli Report—U.S. Alternative Investments 2024, takes a critical look at the retail opportunity and includes unique market sizings and channel projections based on a record survey response from the largest alternative investments managers.
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Methodology
Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. For more on our research process, click here.
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