Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets
Live from Allocate's Beyond Summit: $40B AUM Cresset's Avy Stein and Jordan Stein on how private markets are changing wealth management
Aug 2, 2023
Avy Stein, Co-Founder of Cresset, and Jordan Stein, Director of Private Capital, discuss the growth of Cresset, the changing wealth management landscape, and the importance of private markets. They explore challenges in investing in private markets, the role of venture capital in portfolio construction, and the value of private investing. They also discuss their investment in Allocate and the challenges of accessing information in different asset classes.
46:26
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Quick takeaways
- Crescent's focus on private markets has been instrumental in their astronomical growth, serving as a key component in their holistic wealth optimization approach.
- Private markets, especially venture capital, offer the potential for optimizing returns and diversifying portfolios, but require specialized teams and expertise for successful execution.
Deep dives
Crescent's Growth and Success in Private Markets
Avi Stein and Jordan Stein discuss how Crescent, a client and family-owned, award-winning multifamily office, experienced astronomical growth in recent years, primarily due to their focus on private markets. With over $40 billion in AUM, Crescent was built by founders and private equity professionals. The discussion covers Crescent's unique approach to holistic wealth optimization and how they serve different types of clients, including families, entrepreneurs, and crossover clients from traditional financial institutions. They also highlight the importance of private markets in generating alpha and addressing the shifting landscape of wealth management.
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