Christian Staub, managing director for Europe at Fidelity International, said there was growing demand among clients to access private market strategies. “There are powerful forces within the industry which will make this venture a success,” he said. “Private banks and retail outlets have woken up to the fact that the old balanced portfolio construct, such as equity and fixed income, is no longer working when interest rates are at or close to zero. Clearly you need to bring additional diversification and other sources of return into a portfolio. “In the institutional space, clients are allocating more to private equity, infrastructure and other private assets. It's started with the high net worth part of the market, but it is starting to trickle down.”

https://www.penews.com/articles/fidelity-takes-minority-stake-in-alternatives-platform-moonfare-20210312