Recorded live from CAIS Summit 2025, this episode features Harvey Schwartz, CEO of Carlyle, in a candid discussion with Barron’s Editor-at-Large Andy Serwer on how private markets are reshaping access and opportunity for advisors and their clients. Schwartz describes why “alternatives” are increasingly just “capital,” and shares how wealth’s global trajectory are redefining distribution and product design. He also offers a data-driven read on the economy from Carlyle’s portfolio, reflections on risk learned across multiple market cycles, and why cultural fit matters in partnerships.

Chapter 1.  Private Credit and Transparency [00:05:11]
Chapter 2. Rise of Private Capital [00:07:55]
Chapter 3. Alternatives Reframed [00:10:05]
Chapter 4. Wealth’s Global Trajectory [00:11:56]
Chapter 5. Thoughtful Expansion into Retirement [00:13:15]
Chapter 6. Risk and Resilience [00:27:26]