A new partnership between Macquarie Investment Management and Wilshire Associates will deliver "institutional-quality" investments to sophisticated investors.
Clients will have access to diversified private markets, including private equity, private debt, alternative yield, and private real assets strategies.
Private markets have been out of reach for sophisticated investors due to a complex mix of legal and structural limitations, including large minimums, fees, retirement plan ineligibility, cumbersome tax reporting, cash drag, and gates, according to the firms.
The partnership will aim to overcome these barriers by providing solutions that offer an improved investor and adviser experience along with increased access to diversification into private markets.
"Together we are striving to provide private market access for a fast-growing class of retail investors. Wilshire Associates, a trusted fiduciary with a reputation as a skilled allocator for some of the world's most sophisticated institutional investors, is an ideal partner to bring this vision to life," global head of Macquarie Investment Management Shawn Lytle said.
Jason Schwarz, chief operating officer of Wilshire Associates commented: "Working with Macquarie, we are combining the rigor of Wilshire's investment experience with Macquarie's deep investor insights and expertise to create differentiated private markets access for intermediaries and their clients."
The opportunities will be offered to retail clients previously offered to Wilshire's institutional clients.
Wilshire is a US-based investment solutions and consulting services firm with some US$1 trillion in assets under advice.