This month the Alternative Investor looks at the growing trend of “democratisation” in the alternatives industry.

We look back at another month of strong fund returns, with macro managers on top, and various fund raises. There is an upcoming sector IPO, which we are all watching closely, new legal cases, activist campaigns, founder shenanigans, potential comebacks and much more.

Sector democratisation…

  • Haynes Boone’s James Tinworth writes about how alts ‘democratisation’ or ‘retailisation’ is gaining traction and the increased interest in Europe.
  • PwC’s Mathieu Scodellaro and Jeremy Evans continue on this theme with a look at recent developments in the space.
  • Moving away from the legal side to organisational nuts and bolts, MUFG Investor Services COO, Mac Kirschner, writes about how firms are having to evolve their operations and businesses to enable this broader audience.
  • Fredriks Partners’ Max Heppleston wraps-up with what he is seeing on this trend and where/ how firms are hiring to fill the new roles.

This month, Prosek’s Mark Kollar’s Letter from America dives into the growing trend of NAV financing in the US, where managers are borrowing money based on the value of their portfolio, allowing them to raise capital when liquidity is low.