Hedge Funds Target Mini-Millionaires

TODAY’S STORY

Hedge funds are moving downmarket in search of their next big payday.

Once focused almost exclusively on institutional capital, hedge funds are now targeting a different kind of investor: high-earning professionals. Across the industry, there’s a growing push to attract successful business owners, doctors, lawyers, and others with seven- or eight-figure net worths.

Firms like Apollo are racing to meet this untapped demand. The firm recently expanded its offerings through its New Markets division, which targets individual investor wealth. The group spans four business lines: traditional asset management, defined contribution plans, tax-advantaged solutions, and digital investment platforms.

The scale of the opportunity comes into focus with two key figures: 50% and 16%. Individual investors control around half of the world’s $275 to $295 trillion in assets under management, but they represent just 16% of the capital in alternative investment funds.

The strategy is gaining momentum. According to a BNP Paribas survey, 62% of private banks and wealth managers said they planned to increase their hedge fund allocations in 2024.

OUR PICKS

Here are today’s recs to help you live a smarter life…

1. Proof when it’s not you.

The ROVE R2-4K PRO Dash Cam records precise driving routes, locations, and speed stamps directly on the video as additional evidence. 25% off for a limited time.*

2. 20g of protein.

Muscle Milk Zero is an energizing protein shake that can be consumed as an on-the-go breakfast or anytime snack to support post-workout recovery and muscle growth.*

3. Coffee with a boost!

This double-shot energy drink coffee beverage is made with B Vitamins, Ginseng, and Guarana.*

#SHORTS

China’s distant-water fishing fleet responsible for ‘irreversible damage’ to ocean ecosystems

@boringbusinesskieran

China’s distant-water fishing fleet responsible for ‘irreversible damage’ to ocean ecosystems 🦑🎣 #business #china #economy #fishing #seafo... See more

Watch on: TikTok, YouTube, Instagram

PREVIOUS STORIES

• Why Walmart Wants Your Gas Stop — The company plans to open 40 to 45 gas stations this year, more than double the 20 it opened last year.

• Spending Stays Strong for AmEx — Billed business on AmEx cards in the first quarter rose 6%, despite sharp declines in stocks this month.

• Netflix Doesn’t Care About the Recession — The stock is seen by some analysts as particularly well-positioned to withstand a recession.

• Hollywood Hits Jackpot with Video Game Films — A Minecraft Movie surpassed $700 million in global ticket sales this weekend against a $150 million budget.

• Trouble in the Pet Care Boom — U.S. vet visits fell 1.9% in the first quarter, the sharpest drop since 2021.

To read the web version of previous stories, click here.

If you have any comments or feedback, just respond to this email.

Thanks for reading,
Kieran & Justin Ryan