Cory Shea

“Nobody needs a family office, just park your money in public equities and bonds” I hear this a lot. It sounds plausible until you realize that private markets have outpaced public markets over the past 15 years But allocating to alts without a clear strategy and the right support is a dangerous game Key considerations when investing in alts: Proactive vs. Reactive: A proactive approach means having a strategy in place: set portfolio allocation targets, define limits for single investments, decide between fund vs. direct exposure, etc. Liquidity: Understanding liquidity constraints is critical. Private investments often come with long lock-ups and unpredictable capital calls… model cash flows accordingly Fund Managers & Co-Investments: Early on, partnering with experienced fund managers is a smart move, especially those with deep expertise in areas you're building knowledge Fees: Negotiate fees where possible. Larger check sizes often give you leverage, and co-investing can bring down overall blended fees Consistency: Once targets are set, deploy capital methodically. Pacing investments over time helps manage vintage year risk and builds diversification across market cycles From PE to RE, every alt class has its edge, but you need to know how to play the game Guest contributor Cory Shea, Founding Partner at @ Clockwork wrote a primer on alternative investments for the newsletter