Mercer Capital’s Asset Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants. Each issue includes a segment focus, market overview, mergers and acquisitions review, and more. Segments covered are mutual fund companies (1st quarter), traditional asset mangers (2nd quarter), alternative asset managers (3rd quarter), and trust banks (4th quarter).
The Q3 2014 issue segment focus is Alternative Asset Managers. Excerpting from the discussion:
The poor liquidity, capacity constraints, and lack of transparency typically characteristic of most alt managers have also plagued the sector in recent years, though rising regulatory pressure and heightened competition should mitigate some of these risks moving forward. Regardless, CalPERS recent move could be the tip of the iceberg if other institutional investors follow suit or decide to take a closer look at similar asset classes managed by alternative managers such as private equity and real estate.
To read the entire write up, download the newsletter (pdf) here.