The defined contribution (DC) market remains a frontier, of sorts, for asset managers seeking to tap the $4 trillion being invested by plan participants. In what is thought to be a first of its kind in the industry, Brookline, Mass-based Anova Consulting, is launching a study on behalf of private equity firms to look at how best to get into that market.
“In the last several months, we’ve noticed releases and nuggets of information of private equity firms eyeing the DC space,” says Rich Schroder, president of Anova. “My sense is that fund raising is getting more difficult and competitive from traditional sources with the decline of DB plans and the growth of DC plans,” he adds, noting that funds within the DC market would be a potentially good alternative pool of funds to tap into by private equity firms.
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