Why Private Markets Are Entering the Wealth Channel | Franklin Templeton | Tony Davidow | Ep 61

The alternative investment landscape, particularly private markets, is the central focus, with Tony Davidow from Franklin Templeton providing insights. He defines alternative investments, highlighting private equity, credit, real estate, and infrastructure. A key trend is the increasing accessibility of private market vehicles to the wealth channel due to market demands, product innovation like evergreen funds, and access to world-class managers. Davidow argues that these evergreen funds offer advantages over traditional drawdown funds, such as immediate exposure and better scalability for advisors. While private credit has seen significant inflows, secondaries within private equity and infrastructure are viewed as attractive opportunities, whereas direct lending appears late-cycle. He also touches on venture capital, real assets, and the growing trend of companies staying private longer.