Morgan Stanley “Alts Report series” 2026
The conversation around alternative investments continues to accelerate — and large institutions are clearly investing more heavily in education around private markets.
Morgan Stanley has recently added the “Alts Report” series as an extension to its Alternative Investment Center. Since January 2026, the initiative has featured interviews and discussions with prominent industry leaders focused on the structural evolution of capital markets and the growing role of alternatives in long-term portfolio construction.
What stands out is not simply the promotion of private markets, but the broader acknowledgment that the traditional relationship between public market valuations and underlying fundamentals has become increasingly strained.
In one of the recent discussions, Alisa Amarosa Wood of KKR highlighted how modern public markets have become heavily influenced by speculative momentum, algorithmic trading, and AI-driven flows. The result is a market environment where price discovery can at times feel disconnected from intrinsic value and underlying business fundamentals.
At the same time, society still keeps the overwhelming majority of retirement and investment capital concentrated in public markets.
Private markets, meanwhile, continue to evolve into a more institutionalized and professionally managed ecosystem — one where long-term underwriting, operational analysis, and intrinsic value assessment often remain central to the investment process.
This is why initiatives like the Alts Report matter.
The educational effort itself reflects a broader paradigm shift taking place across wealth management: advisors and investors are increasingly evaluating private equity, private credit, infrastructure, real estate, and other alternative assets not as niche allocations, but as strategic components of diversified portfolios.
The participation of industry leaders such as Marc Rowan of Apollo Global Management and many others demonstrates how seriously the industry is approaching this transition.
At Alts Custodian, we believe investor education will continue to play a critical role in helping advisors and individuals better understand both the opportunities and complexities of private markets.
A very thoughtful undertaking — and an important contribution to the ongoing evolution of modern portfolio construction.