In this episode of the Wealth Management Invest podcast, host David Bodamer sits down with Bob Long, CEO and partner of StepStone Private Wealth, to explore the company's approach to developing private market investments for the wealth channel.

Long discusses why Stepstone has chosen evergreen funds — semi-liquid, continuously invested structures — over traditional drawdown funds. Such vehicles have simplified tax reporting, no capital calls and lower minimums, opening access to a wider range of investors.

Highlights from the episode include:

• An explanation of how evergreen fund structures provide access to investors who are typically disconnected from alternative investments
• A discussion of how Stepstone uses the semi-liquid structure across several alternative asset classes including infrastructure, private equity and private credit.
• How financial advisors are using semi-liquid funds in some clients' portfolios
• And more

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About our guest:

Mr. Long has three decades of private markets experience and has led investment teams for global firms in both general partner and limited partner roles. He has served as CEO of two publicly traded companies focused on expanding access to the private market for high net worth investors.