Private markets aren’t alternative anymore - they’re essential. In Part 1 of our two-part series, Scott Ramsey sits down with Dr. Solomon Ndungu to unpack two forces reshaping the industry: the surge of retail capital and the reinvention of private credit.

Solomon dives into how wealth channels like IRAs and aggregators are driving demand for liquidity-friendly structures—evergreen funds, interval vehicles, and more. With smaller ticket sizes and rising expectations around transparency, fund administrators are being pushed to rethink data infrastructure, service models, and scale.

And when it comes to private credit, Solomon doesn’t hold back. He breaks down why insurers are flooding in, how private credit is becoming the fixed-income backbone of modern portfolios, and why traditional PE structures are being reengineered to meet today’s liquidity demands.

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