E220: Why Family Offices Quietly 5x’d Their Alt Allocations
Why is up to “$150 trillion” poised to migrate from public to private markets—and what will unlock that shift for RIAs and family offices? In this episode, I examine that question with David Sawyer, CEO & Co-Founder of Unlimited.ai. We unpack the real blockers to alternatives adoption—operational, reporting, diligence, and liquidity complexity—and how AI can turn PDFs and siloed portals into queryable, decision-ready data for LPs. We talk RIA psychology, the GP/LP information asymmetry, and why solving “complexity” is the catalyst for the public-to-private transition cited by industry leaders (including the oft-quoted $150T prediction).
Highlights:
- Four kinds of complexity stopping alts adoption: access, legal/regulatory, reporting (K-1s, non-standard NAVs), and liquidity.
- Why operational complexity is the #1 reason many RIAs avoid alts (industry surveys ~40–50%).
- The public → private shift: volatility aversion + search for alpha and predictability.
- Information asymmetry has widened: trillion-dollar GPs vs. individuals and smaller RIAs—why tooling must level the field.
- AI’s role: extract, integrate, and chat with unstructured docs; unified LP workflow from access → diligence → reporting → exit.
- RIA reality: clients already bring outside deals/K-1s—consolidated balance-sheet reporting is now table stakes.
- Why due-diligence management is the sleeper pain point—and how comparative analytics change decisions
- Context for performance: the conversation references Kaplan–Schoar/PME research on PE vs. public markets (as discussed in-episode)
Guest Bio:
David Sawyer is CEO & Co-Founder of Unlimited.ai, an AI-native platform built to orchestrate LP workflows in private markets. Previously, he served as Managing Partner & COO at Legacy Knight, a multi-family office and alternatives platform, and as Managing Director at CAZ Investments. He holds a J.D. from the University of Houston Law Center, studied at the University of Texas at Austin, and is a CAIA charter holder.
Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at [email protected].
Stay Connected:
X / Twitter: David Weisburd: @dweisburd
LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ David Sawyer: https://www.linkedin.com/in/david-sawyer-a70ab912/
Links Unlimited.ai: https://www.unlimited.ai/
Questions or topics you want us to discuss on How I Invest? Email us at [email protected].
Chapters
| 0:00 | |
| 2:54 | |
| 7:31 | |
| 10:21 | |
| 22:07 | |
| 23:06 | |
| 23:56 |
Transcript
Loading transcript...