Authored by Steven Novakovic, CAIA, CFA, Managing Director, Educational ProgramsRetail investors are wading into private markets, drawn by the shimmer of endowment-level returns.But when liquid wrappers meet illiquid assets, even a small mismatch can make waves.In this month’s Chronicles of an Allocator, author Steve Novakovic, Managing Director, Educational Programs wades into the rising tide of “retail alts” and breaks down what you need to watch for.Spoiler: Not every waterfall ends in a pool.
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