Alternative investments are gaining traction in portfolios, with some managers more keen on their inclusion than others. Cerulli’s recent report, U.S. Private Markets 2026, shows where advisers’ alternative use is most concentrated and where education and engagement gaps lie. In an exclusive interview with IREI, Daniil Shapiro, director, product development at Cerulli, dives into private market momentum, differences in adoption and the outlook for alternatives as a key component in portfolios.
What is driving the push to democratize alternatives for retail investors?
The push to offer alternative investments to a wider client base comes via both supply and demand. Private capital managers are looking to broaden their investor base beyond institutional and UHNW/HNW investors. Advisers are looking to access a wider range of investment solutions to support differentiated portfolio outcomes, resulting in an improved ability to support and reta
