How I Invest with David Weisburd

E140: Hamilton Lane Co-CEO on the $950 Billion AUA Business

Feb 21, 2025
Guest
Erik Hirsch
In this engaging discussion, Erik Hirsch, Co-CEO of Hamilton Lane and seasoned expert in private market investing, shares his insights on the transformative power of tokenization in making private investments accessible for retail investors. He highlights the urgent need for education to overcome myths that hinder adoption and explains the future landscape where retail and institutional investors can effortlessly manage assets. Hirsch also emphasizes the critical role of wealth advisors in navigating these changes and the expectations that differ between investor types.
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INSIGHT

Retail Investors Seek Private Assets

  • Retail investors want to diversify into private assets due to perceived inequality in access.
  • Average savers haven't had exposure to private markets, unlike those with pensions.
INSIGHT

60/40 Portfolio Fallacy

  • The 60/40 portfolio is outdated because fixed income returns are lower and it ignores private markets.
  • Institutional investors have already shifted away from it, favoring private markets and alternatives.
INSIGHT

Retail Investors Mimicking Institutional Strategies

  • More retail investors are accessing private markets due to new products and better awareness of returns.
  • Evergreen products with lower minimums and proven outperformance attract retail investors.
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