Brokers, Asset Managers & Exchanges: Key takeaways after four industry contact meetings last week

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Brokers, Asset Managers & Exchanges: Key takeaways after four industry contact meetings last week

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Brokers, Asset Managers & Exchanges

Key takeaways after four industry contact

meetings last week

Industry Overview

Last week, we held group meetings with industry contacts including a co-founder/co- 08 June 2026

CEO of a leading private credit manager, an Alts gatekeeper at one of the major Equity

wirehouses, a managing partner of prominent law firm focusing on financial services in United States

Washington DC and the CEO of one of the largest fixed income e-trading firms. Here are Brokers, Asset Managers and

our takeaways: Exchanges

Still LT bullish on Alts adoption in retail despite limits CraigResearchSiegenthaler,Analyst CFA

We remain LT bullish on the Alts migration into the private wealth channel given BofAS

+1 646 855 5004

multiple underlying trends (broadening base, increasing adoption, returns, economics). craig.siegenthaler@bofa.com

Over the last 9 months, there has been a rotation out of private credit and into other Eli Abboud

defensive asset classes that are less sensitive to base rates including asset-backed Research Analyst

BofAS

finance and infrastructure, while real estate is showing early signs of recovery. For +1 646 855 5791

individual investors, the semi-liquid vehicle launches were a gamechanger and are still eli.abboud@bofa.com

the preferred vehicle with lower minimums, tax simplicity & efficiency (1099 tax Kareem Seif

Research Analyst

reporting) and operational improvements. BofAS

+1 646 855 5759

Expect private credit redemptions to mirror RE 3Ys ago kareem.seif@bofa.com Ivory Gao

In private credit, we expect a similar flow pattern to RE/BREIT 3 years ago with Research Analyst