Episode summary
EQT's Peter Aliprantis - bring EQT's success to the US wealth market
Alt Goes Mainstream
· · Hosts: Michael Sidgmore · Guests: Peter Aliprantis
Summary
Peter Aliprantis argues that the private wealth channel has moved from a niche, institution-like corner of private markets into a core distribution market, but success now depends on much more than strong performance. He says the old model of selling drawdown funds with little reporting or servicing has given way to a world where advisers want education, operational support, and products designed specifically for their clients.
A major theme is that EQT is trying to build both brand and scale in the Americas. Peter says the firm is strong in Europe, has a long U.S. investment footprint, and is now investing heavily in sales, content, and bespoke evergreen structures for wealth. He argues that a European, Nordic firm can win in the U.S. if it combines top-down branding with a ground game that reaches different adviser segments in different ways.
He also expects product design to keep evolving. Peter thinks evergreen structures are already changing how advisers allocate to private credit, and he believes the same logic will extend to private equity and infrastructure. In his view, the race to win the wealth channel is underway, and firms that are not meaningfully present in the next 3 to 5 years will struggle to catch up.
Key takeaways
- Peter says private wealth has shifted from an exclusive side business to a major partner for GPs, with adviser demand now driving product and service design.
- He says EQT is building brand in the U.S. with 12 salespeople, dedicated private wealth resources, and three evergreen products already in market, with two more planned in 2025.
- Peter says RAIA relationships can take two to two and a half years to close, so firms must act like advice providers rather than product pushers.
- He expects evergreen structures to keep gaining share because they are easier for advisers to allocate and can work across accredited-investor books.
- Peter says larger firms have an edge in serving wirehouses and other scaled channels, but smaller firms can still compete by setting realistic capital-raising goals.
Notable quotes
“private wealth was a much smaller segment of the world than it is today”
“it wasn't the cool place to be the way it is now”
“you have to build bespoke products for the channel”
“the race is on and I think it's going to be a sprint to the finish”
“if you're not in it in the next 3 to 5 years in a big way, it's going to be difficult to catch up to everybody else”
How the episode opens
This episode of the Alco Mainstream podcast is brought to you by Ultimus, a leading full-ervice fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. Ultimus is a leading full-ervice fund administrator for asset managers in both private and public markets, offering a wide range of capabilities across registered funds, private funds, and public plans, as well as outsourced middle office services.
Delivering operational excellence, Ultimus helps firms manage the everchanging regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products. Trusted by institutions, investment consultants, registered investment adviserss, state governments, and fund managers, Ultimus provides solutions for nearly every investment structure in the marketplace.
Visit www.ultimusf ultimous funfundsolutions.com to learn more about Ultimus' technology-enhanced services and solutions or contact Ultimus executive vice president of business development Gary Harris on email at g har har har har har har har har har har har har har har har har har har har har harris at ultimus funfundsolutions.com we thank Ultimus for their support of alts going mainstream mainstream all myies See you on Main Street. We're going mainream from Wall Street to Melrose Avenue. We're going to venture capitalists to athletes to creators to the person who has collected trading cards collision of culture and finance.
We're going mainream. Welcome back to the Alco's mainstream podcast. Today's episode is with a private markets veteran who has been working in the private wealth channel before it was called the wealth channel.
We sat down in the studio with Peter Aliprentice. Peter joined EQT in October 2024 as a partner and head of private wealth Americas.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- private wealth
- brand building
- private markets product innovation
- evergreen investment structures
- model portfolios
Companies and tickers mentioned
- EQT
- EQT
- TPG Angelo Gordon
Watch the episode
Watch “EQT's Peter Aliprantis - bring EQT's success to the US wealth market” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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Alt Goes Mainstream, this episode and its artwork belong to Michael Sidgmore. Octagon is not affiliated with the show; this page is an independent summary.
