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  "documentTitle": "2023 global pe report   roadshow deck",
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  "notes": "The word cloud highlights the lack of brand awareness for alternative asset managers among wealthy individuals.",
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      "text": "I don't know rises to the top, followed by large financial institutions such as Fidelity and Charles Schwab that barely have any presence in alternatives.",
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      "kind": "paragraph",
      "text": "Pursuing individual capital may not be the right approach for every firm. But given the momentum building in the retail market, there is growing urgency for any alternative manager interested in developing a strategy.",
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      "text": "Q: Please list up to three firms you are familiar with that provide investments into alternative assets.",
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      "text": "\"I don't know\" rises to the top, followed by large financial institutions such as Fidelity and Charles Schwab that barely have any presence in alternatives (see Figure 6).",
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      "text": "While the market is broad, many of the distribution channels are narrow, creating first-mover advantage. Private banking is a good example. This segment, which includes financial institutions",
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      "text": "This suggests that even firms with established relationships among banks and advisers have hardly scratched the surface in terms of brand building. Even tapping the very-high- and high-net-worth segments will take substantial investments in education, innovation, and distribution, and the mass affluent segment is a bridge further still. The more alternative managers move down the wealth ladder, the more they will compete with some of the best-known brands in finance. That will be especially true in the US if regulators provide clear access to 401(k) investors. These retail channels require robust customer service, public relations expertise, communications strategies, and other marketing-related muscles. It will take both resources and time to develop these capabilities.",
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      "text": "Note: Alternative assets defined as real estate (excluding personal residences), private equity (i.e., buyout, growth equity, and venture capital), hedge funds, infrastructure, and private debt. Source: Bain HNWI Survey, December 2022 (n=418)",
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      "text": "Figure 6: A survey of wealthy individuals shows that most private capital firms float below the radar in terms of brand identity",
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      "text": "Global Private Equity Report 2023",
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      "text": "The clock is ticking",
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