The Millionaire Next Door

Private Markets and Long-Term Investing with Chris Schelling, CAIA (Ep. 92)


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Long-term investing can feel more difficult when headlines are loud and markets seem unpredictable. 

What happens when investors stop reacting to daily noise and start thinking like institutions that plan decades ahead?

In this episode, Robert Curtiss welcomes Chris Schelling, CAIA, Managing Director at Aksia, to explore how private markets have shaped institutional portfolios and why some individual investors may now gain access to approaches like those used by institutions, depending on account type, regulatory eligibility, and minimum investment requirements. They break down private equity, private credit, liquidity planning, diversification across vintages, and the importance of manager selection. 

The conversation also touches on volatility, long-term return expectations, and what advisors and investors should look for when evaluating alternative investments.

Key takeaways:

  • How institutional investors approach private markets — and what does that mean for access and implementation for individual investors with long-term horizons and diversified portfolios
  • Why private equity and private credit returns differ from public markets over multi-year periods
  • The role of liquidity planning and why private investments are not truly locked up for a decade
  • Why manager selection matters more in private markets than in public equities
  • How simplified structures have made private investments easier for individual investors to access
  • And more!
  • Resources:

    • Educational videos (bottom of the page)
    • Connect with Chris Schelling:

      • LinkedIn: Christopher Schelling
      • Website: Aksia
      • Connect with Robert Curtiss:

        • (626) 795-2944
        • About Robert Curtiss 
        • LinkedIn: Robert Curtiss
        • Facebook: Robert Curtiss
        • SEIA
        • LinkedIn: SEIA
        • About Our Guest:

          Chris Schelling is an investor, advisor, and published author. With degrees in psychology, business, and finance, Chris is an expert at incorporating insights from behavioral finance into investment decision-making. During his 20+ year tenure in the investment industry, building portfolios, mostly focused on alternatives, Chris has met with over 4,000 managers and allocated roughly $7 billion, generating top quartile to top decile returns across hedge funds, real assets, private credit, and private equity.

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          The Millionaire Next DoorBy Robert Curtiss

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