Alto founder and CEO Eric Satz sat down with InvestmentNews anchor Gregg Greenberg at the Nasdaq to discuss what a modern retirement portfolio should look like, and why recent private credit headlines won't slow the broader shift toward private market assets in retirement accounts.
Satz pointed to the evolution of the 60/40 portfolio model as the central challenge facing investors and advisors today, noting that the allocation to alternatives, currently debated at 20%, will likely move toward 30% over time as private market assets become a core component of portfolio construction rather than a peripheral one.
On why retirement capital has historically been underutilized in private markets, Satz cited two barriers: liability concerns, which are being addressed at the regulatory level, and technology, which has until recently made it operationally impractical for individual investors to access private market assets through retirement accounts. With those barriers lowering, he noted that advisors are beginning to engage, though still in early stages.
On the volatility question, Satz was direct: the current uncertainty is short-term. The longer-term case for private markets in retirement accounts is structural. Retirement assets are long-term capital, private market investments require long-term commitment, and that duration matching makes the combination not just practical but well-suited. As he put it, illiquidity is a feature, not a bug.
Watch the full segment on InvestmentNews.
