Wealth advisers at major banks and independent brokerages have earned more than $2bn in servicing fees from private market funds since 2017, highlighting the scale of incentives tied to the distribution of alternatives to individual investors, according to a report by the Financial Times.
The findings, based on analysis of 16 funds including vehicles managed by Blackstone, Blue Owl, Apollo and KKR, underscore how banks and wealth platforms profited from the rapid growth of semi-liquid private ma...
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