You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. (Bloomberg) -- Morgan Stanley chopped pricing in half for clients trading private companies’ shares on its newly acquired EquityZen platform, undercutting competitors as it looks to expand in a growing market.  The bank lowered fees for both buyers and sellers to 2.5% from 5% for most transactions, according to a statement Thursday. That may just be the start. Jed Finn, Morgan Stanley’s h ...

Core Viewpoint - JPMorgan Chase has established a new advisory unit, Private Capital Advisory & Solutions (PCAS), to assist corporate and sponsor clients in raising funds in private markets [1][2] Group 1: Structure and Leadership - PCAS aims to serve as a "centre of excellence" for equity strategies and advisory services in private markets [1] - The unit will be globally led by Keith Canton, who has been with JPMorgan since 2015 and previously headed the Americas Equity Capital Markets team [3] - Tilman Pohlhausen will supervise the private capital advisory business globally and report to Canton [4] Group 2: Strategic Focus and Offerings - PCAS will provide "differentiated, product-agnostic solutions" with capabilities in structuring, pricing, and distribution for private capital transactions [2] - The initiative is a strategic priority for JPMorgan as clients face complex capital needs requiring innovative solutions [2] - Collaboration across various teams, including Coverage, M&A, and ECM, will be essential for the success of PCAS [5]

JPMorgan Chase has formed a new advisory team to help companies and sponsors raise money from private markets, it said on Friday, as the largest U.S. lender looks to deepen its presence in the red-hot... ...

Core Insights - The article discusses the current trends and developments in the financial markets, highlighting the impact of economic indicators on investment strategies [1] Group 1: Market Trends - There is a noticeable shift in investor sentiment as economic data suggests a potential slowdown in growth, leading to increased volatility in the markets [1] - Analysts are closely monitoring inflation rates and interest rate changes, which are critical factors influencing market performance [1] Group 2: Investment Strategies - Investors are advised to diversify their portfolios to mitigate risks associated with market fluctuations, particularly in sectors sensitive to economic changes [1] - The article emphasizes the importance of staying informed about macroeconomic trends to make informed investment decisions [1]

The private market wave is growing, and it appears workplace plan sponsors are increasingly eager to test the waters. According to a new report from Cerulli Associates, 37% of plan sponsors are very interested in learning more about target-date funds or managed accounts that allocate to private markets. Interest is particularly higher among large plans that hold between $250 million and $1 billion in assets, where 57% of sponsors expressed strong interest. Researchers suggested that larger plans may be f ...

Core Insights - SpaceX is reportedly reaching a valuation of $800 billion, indicating strong demand for its shares and significant growth over the past year [1][2] - The company raised its valuation from $250 billion last December, effectively tripling in value within 12 months [2] - The private market is experiencing a divergence from the public market, with notable confidence in companies like SpaceX despite risks associated with space ventures and data center construction [3][4] Company Performance - SpaceX has executed well over the past decade, with rumors of high profitability and impressive growth rates [5] - The AI sector has seen substantial growth, with increases of 169% year-to-date, contributing to the overall positive sentiment in private markets [5] - SpaceX's projected revenue is estimated to be between $15 billion this year and $22-24 billion next year, showcasing remarkable growth [13] Market Dynamics - Investors are focusing on long-term growth in the private market, preferring to invest at earlier stages rather than at peak valuations [6] - There is a significant amount of capital available in the private market, particularly in the AI sector, with 16 IPOs anticipated for 2026 [8] - The average return for private companies reaching a billion-dollar valuation over the past six years is approximately 65% per year [10] Valuation Concerns - Despite high valuations for companies like SpaceX, OpenAI, and Anthropic, there are no significant bubble concerns as these companies continue to demonstrate strong growth [12][17] - The entire private market index has increased by around 65% this year, indicating broad growth beyond just AI companies [17] - The influx of investors into private markets is expected to continue, especially with major firms like Charles Schwab entering the space [18]

Core Insights - The company has set medium-term organic revenue growth targets of 7% to 9% and aims for 50 to 75 basis points of margin expansion per year, reflecting confidence in its strategic direction [1] - The overarching theme is to keep pace with customer needs and strengthen market leadership while exploring growth opportunities in high-growth adjacencies such as private markets, energy, wealth, decentralized finance, and supply chain [2] - The company is enhancing its enterprise capabilities by streamlining operations across the organization, which is expected to contribute to achieving its growth targets [3]

Tokenized stocks are gaining ground as a way for ordinary people to access investment opportunities long reserved for high net-worth individuals and other accredited investors. But while retail traders' interest in the emerging asset class is accelerating, some experts are cautioning them to pump the breaks. Tokenization refers to the process of creating a digital version of a real-world asset – for example, a stock, bond or real-estate deed – on a blockchain, or decentralized network. And as real-world ass ...

Core Insights - Charles Schwab (SCHW) announced an agreement to acquire Forge Global Holdings, Inc. (FRGE) for approximately $660 million in an all-cash transaction, resulting in a 1.7% increase in Schwab's shares [1][9] Company Overview - Forge Global, based in California, provides accredited investors with access to private markets through a direct marketplace and proprietary data, having facilitated over $17 billion in private company share trades as of September 30, 2025 [2] Acquisition Details - Schwab will pay $45 per share in cash for Forge Global, with the merger approved by both companies' boards and expected to close in the first half of 2026, pending customary conditions [3] Strategic Rationale - The acquisition aligns with Schwab's strategy to enhance private market capabilities for retail and advisor clients, leveraging its comprehensive wealth management solutions [5] - The addition of Forge Global's platform aims to capitalize on growing investor demand for early exposure to startups, enhancing portfolio diversification [6] Future Plans - Post-acquisition, Schwab plans to offer Forge Global's products to ultra-high-net-worth clients and expand access to over 1 million retail clients and registered investment advisers, with further enhancements for all qualified investors [4] Market Position - Schwab's CEO highlighted the potential for significant growth in private securities, leveraging access to 46 million client accounts and $11.6 trillion in client assets [7] - The acquisition is expected to diversify Schwab's revenue streams and drive revenue growth as transactional activity in private markets increases [7] Performance Metrics - Over the past year, Schwab's shares have increased by 22.3%, compared to a 27.2% growth in the industry [8]

Core Insights - The deal between Morgan Stanley and Equity Zen aims to enhance access to private markets for a broader range of investors, addressing the challenges of wealth creation and liquidity for employees in private companies [1][4][12] Group 1: Market Trends - Private markets are experiencing significant growth, with the average duration a company remains private increasing from five years to 14 years over the past two decades [2] - This trend presents challenges as average investors are often excluded from early-stage investments, which are primarily accessible to institutional investors and venture capitalists [3] Group 2: Strategic Rationale - The combination of Morgan Stanley's extensive client base, with $7 trillion in assets and 20 million clients, and Equity Zen's private market offerings creates a unique opportunity to connect demand and supply in the private market ecosystem [5] - The integration of these firms is expected to professionalize the private market segment, enhancing investor protections and aligning with Morgan Stanley's overall risk management framework [8][10] Group 3: Client Demand and Risk Management - There has been a substantial increase in demand for private market access, with Morgan Stanley aiming to extend these opportunities to its entire client base, including nearly one million clients from Equity Zen [12][13] - The firm emphasizes the importance of risk management, suggesting that private market investments should constitute about 10-15% of an overall portfolio, depending on individual risk profiles [11][15]