Conventional money managers are increasingly viewing building out their private markets capabilities as both a defensive and offensive strategy. Defensively, tapping into this area helps counteract pressures on their core public market franchises due to competition from passive investing. Offensively, they enable firms to meet the increasing client demand for private market products, which typically command higher fees and lock up investors' capital for longer periods. Bain: Traditional asset managers must tap into private markets to avoid wipeout Expanding into asset classes s...
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