Alternative Investment Market Trends - Alternative investments are experiencing a retail revolution, shifting from traditional institutional investors like pension funds and endowments to high-net-worth individuals [1][2][3] - State Street estimates that high-net-worth individuals will drive over half of private market fundraising in the coming years [3] - The industry is investing in marketing and communications to enhance accessibility and educate retail investors about the value of alternatives in a portfolio [8][9] Performance and Risk - A Harvard paper suggests a potential performance disadvantage for funds sold to retail investors [4] - Gathering statistically significant performance data for alternative investments is challenging due to the private nature of performance figures and the illiquidity of some instruments like business development companies [7][8] - Higher fees in alternative markets compared to liquid markets raise questions about whether the returns justify the cost for retail investors [10] Regulatory Landscape - The Trump administration's executive order aimed to facilitate greater access to alternatives, including potential inclusion in 401(k) plans [5] - Expanding access to alternatives faces arguments regarding the suitability of these investments for "regular Joe's" due to performance concerns [6]