Bernstein Private Wealth Management's Alex Chaloff - how the CIO of a $125B wealth manager navigates private markets

Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets

Sep 4 2024 • 1 hr

Welcome back to the Alt Goes Mainstream podcast.

Today’s episode is with Alex Chaloff, the CIO of a large and sophisticated private wealth management firm that is very active in private markets.

Alex is Chief Investment Officer of Bernstein’s $125B+ private wealth management unit within $725B AUM AllianceBernstein. He was previously the Head of Alternative Asset Strategies. Prior to joining Bernstein in 2005, he was a MD for Wilshire Associates, serving on the firm’s investment committee. Prior to that, he worked in fund accounting operations at a global custodian in Boston.

Alex and I had a fascinating conversation about:

How to approach private markets asset allocation.
Why he’s doing the job that he always wanted to do.
How to think about portfolio construction.
The importance of patience.
The questions about liquidity.
Why structure matters.

Thanks Alex for coming on the show to share your wisdom and views.

A word from AGM podcast sponsor, Ultimus Fund Solutions

This episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.

To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.

Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.

We thank Ultimus for their support of alts going mainstream.

Show Notes
00:00 Introduction and Sponsor Message

01:18 Podcast Theme Song

01:35 Welcome to the Podcast

01:59 Introducing Alex Chaloff

03:01 Alex Chaloff's Career Jurney

03:49 Transition to Bernstein

04:16 Current Role and Responsibilities

05:26 Investment Strategy and Market Insights

06:58 Active vs Passive Investment

11:35 Middle Market Focus

14:26 Evaluating Fund Managers