The next decade belongs to people who can think like institutions.

Individual investors sit at 1-2% alternatives allocations. Institutions are at 20%. That gap is closing fast because the infrastructure to bridge it is finally being built.

Samir Kaji spent 22 years watching that infrastructure not exist. Thirteen years at Silicon Valley Bank. Nine at First Republic. Both now gone. What he saw inside them is what convinced him the problem was never access. It was everything underneath access: the portfolio construction tools, the liquidity mechanisms, and the frameworks institutions take for granted and individuals don't have.

That's what Allocate is built to fix. Four and a half years in, over $4 billion has moved through its pipes, connecting wealth advisors to private funds across venture, private equity and private credit. 360 advisor firms. 4,000 individual investors. 

In this episode of the Modern Capital Podcast, Samir and Marc cover:

• Why "semi-liquid" isn't the same as liquid, and what actually happens when individuals need out
• The barbell: why large funds and emerging managers are playing completely different games, and how to build across both
• What institutional portfolio construction actually looks like, and why accredited doesn't mean ready
• Where private markets are heading and what has to be true for individuals to actually benefit

"It's a way to generate alpha, but only if you get it right. So, let's build the system for that."

Private markets are heading past $30 trillion. The wealth channel infrastructure to deliver them responsibly is being built right now. This is the conversation behind it.