上个月，约6000人涌入加利福尼亚州亨廷顿海滩，参加Wiz Khalifa和Gym Class Heroes的音乐表演、冥想和健身课程，以及教授如何调制威士忌基鸡尾酒、手工披萨和海盐磨砂的课堂。当然，还有人来聆听关于私人信贷及其他投资的推介。
Nearly 6,000 people descended last month on Huntington Beach, Calif., for musical performances by Wiz Khalifa and Gym Class Heroes, meditation and workout sessions, and classes on how to make whiskey-based cocktails, artisan pizza and sea-salt scrub. And, of course, to hear pitches on private credit and other investments.
从远处看，这个为期四天、名为“Future Proof Festival”的活动像是一场狂欢派对。近距离观察，却是向个人投资者推销私人信贷产品的热潮案例。资产管理公司正瞄准这一大多尚未开发的市场，因为其传统的大型投资者——捐赠基金、养老基金和基金会——已达到其期望的敞口上限。即便个人投资者因不断浮现的风险而日益感到不安，这些公司仍在持续推介这些产品。
From afar, the four-day event, called the “Future Proof Festival,” looked like a rave. Up close, it was an example of the booming efforts to sell private-credit products to individual investors. Asset-management firms are targeting the largely untapped market as their traditional, large investors—endowments, pension funds and foundations—max out their desired exposure. Firms continue to pitch the products even as individuals are increasingly getting spooked by risks bubbling to the surface.
Apollo Global Management（阿波罗全球管理公司）和State Street（道富银行）举办了关于私人和公共信贷的专题会议。Capital Group（景顺集团）设有一个配有皮克球场的展位，并安排了一场由“公私解决方案销售专员”主讲的关于私人与公共市场融合的会议。Franklin Templeton（富兰克林邓普顿）则谈及通过加入私人投资来‘打造更佳投资组合’。许多与会者来自财富管理行业——该行业是大多数个人投资者的把关人。
Apollo Global Management and State Street held a session on private and public credit. Capital Group had a booth with a pickleball court and a session with a “Public-Private Solutions sales specialist” on the merging of private and public markets. Franklin Templeton talked about “building better portfolios” by adding private investments. Many attendees worked in the wealth-management industry—the gatekeeper to most individual investors.