Overview
- Confirmed on Sept. 4, the Alts Expanded Access program targets UHNW clients with at least $50 million in net worth for direct commitments to private equity, private credit, venture capital and real assets.
- The rollout is scheduled for fall 2025, offering access to funds that are not widely distributed and that focus on specialized themes and emerging sectors.
- Minimums will vary by fund, advisors will be guided by the investment solutions group and the chief investment office, and final investment decisions will rest with clients.
- The offering complements existing alternatives and co‑investment options, including Premium Access Strategies, which has grown to more than $60 billion in assets.
- The move tracks an industry expansion into private markets, with recent initiatives at Goldman Sachs with T. Rowe Price and Oak Hill Advisors for retirement plans and at Wells Fargo via a UMA platform, as BofA research shows alternatives comprise 17% of wealthy portfolios and most plan to increase exposure.