Travers Smith's Alternative Insights: Unlocking Private Markets

Wealthy individuals want better access to private funds, and policymakers are (mostly) on-side.  Meanwhile, larger alternative asset managers are building teams that know how to tap this growing pool.  But the risks of adding retail investors to an asset class used to dealing with institutions are significant – and firms that manage those risks properly will thank their compliance teams in years to come.

Everyone agrees that sensible investor protection regulation is essential.  Indeed, it is one of the primary objectives of regulators, and rightly so.  In the UK, those protections have recently been reviewed and upgraded – the Consumer Duty now requires firms to deliver fair outcomes, not just good process.  One of the aims of the EU's retail investment strategy is to increase consumer protection.