Alternative investment firms' push for retail clients is a global one.
Managers are working to tap a growing number of high-net-worth individuals in Asia who are seeking to invest in private equity, said Weichou Su. Mr. Su is a partner covering investment in Asia and based in the Beijing office of alternatives investment consultant and money manager StepStone Group LP.
The “key destination” for the capital of wealthy individuals in Asia — particularly China, Singapore and India — is alternative investments in the United States, he said. Alternative investment managers are getting a lot of capital from this new source in Asia, he added.
Asian retail investors are attracted to the alternative investment firms they know, he said. “These are the well-known names, tried and tested.”
To gain access to these new potential clients, alternatives managers are establishing teams and creating new relationships with distribution firms already in Asia, he said.