The 2025 Uncorrelated Alts Conference in Miami brought together industry leaders to explore the evolving role of private market alternatives in modern investment strategies. Mark Flickinger, General Partner and COO of BIP Capital, and Phil Davidson, Managing Director of Institutional Sales at BIP Capital provided expert insights about the private markets, alternatives, and Evergreen funds.
Private market alternatives have transitioned from niche institutional investments to essential components of diversified, resilient portfolios. High-net-worth individuals (HNWIs), family offices, and Registered Investment Advisors (RIAs) are increasingly allocating capital to these assets to enhance portfolio stability and returns. Over the past three decades, publicly listed companies have steadily declined while private markets have expanded. Companies are opting to postpone of forego an IPO, building substantial value in the private market. Investors focusing solely on public markets (stocks, bonds) risk missing out on significant opportunities to capture value creation and growth potential.
Besides the potential to capture value by investing in high-growth early-stage companies, the private market can provide opportunities for investors to capture strong risk-adjusted returns and lower volatility than traditional stocks and bonds. Private equity funds have outperformed public markets over the past decade, with a median annualized return of 15.2%—more than double that of global public equities. (Source) This performance is largely due to active portfolio management, longer investment horizons, and the illiquidity premium that rewards patient capital. With over 20,000 investment vehicles available, investors have numerous options to align with their goals.
Alternatives can help diversify portfolios, reduce risk, and generate consistent returns through private equity and private credit investments.
Liquidity concerns have historically been a challenge for private market investors. The emergence of Evergreen funds has helped to solve that challenge. These vehicles offer a perpetual capital structure, which can balance long-term growth with scheduled liquidity windows. Put simply, Evergreen funds can help investors to capture the benefits of private market investing while maintaining some flexibility. Moreover, their regulated structure ensures transparency and investor protections, making them an even more attractive option for accredited investors seeking exposure to private markets.
Due to high capital requirements, private market investing historically has been restricted to institutional investors and ultra-high-net-worth individuals. Evergreen funds have changed the dynamic with low minimum investment thresholds (minimums as low as $10,000). For investors, Evergreen funds provide access to stable, long-term value creation with structured liquidity options. For advisors, this alternatives asset class can be an excellent business development resource.
Explore more in the full article in the 2025 issue of the Uncorrelated Alts Magazine.
During the Uncorrelated Alts conference, Mark Flickinger joined other industry leaders, including Mike Flannery of Grit Capital Partners, Ryan Coughlin of Danu Venture Group, Fady Saad of Cybernetix Ventures for a panel discussion about the current role and impact of venture capital in modern investment strategies. The panel explained why, despite market fluctuations since the pandemic, VC remains an important, impactful asset class for the innovation economy. Aggregating capital from high-net-worth investors to deploy across media, software, and technical service businesses is critical to keeping the economy healthy and productive. Adding to this progress, Evergreen funds have lowered the investment threshold for accredited investors. In doing so, these assets widen access to the private market and broaden the capital pool.
The panelists discussed some of the core features of Evergreen funds, including lower investment minimums, the potential for structured liquidity windows, and more flexibility than traditional closed-end venture funds. They pointed out that these structural benefits have positioned the asset class to increase opportunities for wealth advisors to grow their businesses by widening access to a higher diversity of investors. Focusing on the founder side, the discussion highlighted the rising imperative for startups to focus on fundamentals—cash-efficient businesses with clear paths to profitability. Flickinger noted that a disciplined approach to capital deployment and ongoing investor education are crucial in maintaining long-term success.
The conference underscored that despite volatility, the industry’s ability to identify and fund groundbreaking innovations makes it a compelling choice for long-term investors. By balancing liquidity, risk-adjusted returns, and regulatory protections, these funds are transforming how capital is deployed in the innovation economy.
Join Mark and Phil for an upcoming webinar focused on the private markets, alternatives, and Evergreen funds. Find the schedule and registration here.
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