Listen on The Move
When an "alternative" promises liquidity it may not deliver, who is doing the homework before the money goes in?
Alternatives are being built for wealth management faster than ever, from interval funds and ETFs with illiquid sleeves to new vehicles tied to professional sports. In this return visit to Insight Is Capital, host Pierre Daillie sits down with Shana Sissel, Founder and CEO of Banrion Capital Management, to separate product innovation from product risk.
Shana explains why structure matters as much as strategy, why the hardest client conversation is often the most valuable one, and why some features investors dislike exist to protect them. The conversation then turns to what excites her: wider access to private markets, professional sports as an investable asset class, and where institutional capital is heading next.
They close with Shana's forthcoming Wiley book, Tough-Minded: How Taking on Life's Challenges Can Make You a Better Investor, and what personal adversity can teach about humility, resilience, and finding your own edge as an investor.
Chapters
00:00 Introduction
01:35 Welcome back, Shana Sissel
02:00 Alt managers race to reach wealth management
03:30 Interval funds and the private credit freeze-up
04:00 ETFs with illiquid pockets
08:00 Gates: a feature, not a bug
12:30 Leading with what could go wrong
19:30 Liquid vehicle does not mean liquid asset
22:00 Just because you can doesn't mean you should
24:00 Why hard conversations build better relationships
26:45 What is driving demand for alternatives
31:00 Fractional shares and investing access
32:30 New marketplaces for private company shares
35:30 Franchise Value and the business of sports
38:30 Team ETFs, sports futures and their pitfalls
43:00 Sports rights funds and women's sports
46:00 Why private equity is buying into pro sports
50:00 Ownership rules and control
52:00 Where the next wave of sports capital goes
55:00 Sports as a business
58:30 Owner diligence and conflicts of interest
1:04:30 Tough-Minded: the book
1:12:30 Resilience and being okay as the villain
1:15:30 Closing thoughts
Connect with Shana Sissel
LinkedIn: https://www.linkedin.com/in/shsissel/
Banrion Capital Management: https://www.banrioncapital.com/
#AlternativeInvestments #PrivateCredit #PrivateMarkets #IntervalFunds #ETFs #SportsBusiness #SportsInvesting #PrivateEquity #WealthManagement #FinancialAdvisors #BehavioralFinance #InsightIsCapital
