UBP’s Deputy Head of Private Markets Group, Gaetan Aversano, recently took part in a compelling discussion at the IPEM Cannes 2025 conference. The session, titled ‘What wealth clients really want: surprising lessons learned from the field,’ delved into the evolving preferences and needs of wealthy clients, particularly in the realm of private markets.
The panel explored several critical areas where wealth management is witnessing transformative changes. Education emerged as a fundamental theme, with the panellists discussing how misconceptions about private markets continue to persist. Many investors still mistakenly equate private markets with hedge funds or view public markets as inherently safer due to their liquidity. Addressing these misconceptions is crucial for the broader adoption of private market solutions.
The introduction of evergreen funds was highlighted as a significant innovation, reshaping how private market investments are perceived and managed. These funds are becoming essential performance drivers in client portfolios, offering immediate and seamless access into the various private market asset classes. With improved liquidity mechanisms and lower minimum investments, they provide an attractive solution for clients seeking consistent performance without the typical barriers to entry of private markets.
Furthermore, the discussion underscored the importance of diversification.
In an era in which public market correlations are increasingly high, private markets play a crucial role in helping clients safeguard their portfolios against market volatility.
Our expert Gaetan Aversano emphasised that private assets are now considered essential components of client portfolios, not just supplementary investments. These assets are crucial for reaching long-term objectives, offering both fixed income and public equity enhancements or even replacements.
In particular, the rise of evergreen solutions was noted as being a game changer for integrating private market allocations into client portfolios. However, we should highlight that while these structures address several investment hurdles such as illiquidity and complexity, their distribution must be handled carefully, as liquidity cannot be the primary selling point due to its inherent restrictions.
Addressing the education gap remains a significant challenge, with a need to shift perceptions of risk between private and public markets and to integrate private markets effectively into diversified portfolios.
