In this episode, Will spoke to Dan Harris of the Chicago-based hedge fund seeding firm Borealis Strategic Capital Partners about his meetings-filled week in Miami; their research into emerging manager alpha (which sees a 4% performance premium during the first 36 months); the role of SMAs; and more.

It was recorded last week in Florida where thousands of fund managers and LPs gathered for Global Alts 2026 by iConnections and the multiple events organised on the sidelines on Miami Beach, for the ultimate coming together of alpha and art deco.

AFI's Miami notebook:

https://alternativefundinsight.com/global-alts-notebook-tpa-plans-loeb-launch-cta-comeback-and-smas-in-spotlight/

New data confirms emerging manager alpha, reports seeder Borealis:

https://alternativefundinsight.com/new-data-confirms-emerging-manager-alpha-reports-seeder-borealis/

Related on TPAs:

https://alternativefundinsight.com/global-alts-day-1-allocators-reveal-how-tpa-is-re-shaping-strategy/

More information about PivotalPath:

https://www.pivotalpath.com/

This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the . Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information.

Hosted on Acast. See acast.com/privacy for more information.

AFI headed to Florida this week to join thousands of fund managers and LPs gathered for Global Alts 2026 and the multiple events organised on the sidelines on Miami Beach, for the ultimate coming together of alpha and art deco.

In the week of President Trump's annual State of the Union address in DC, AFI took the opportunity to explore the state of the hedge fund industry with Jon Caplis, ceo of New York research firm PivotalPath. We discussed performance, flows and the many talking points which came up at the conference, ranging from private credit pressures to SMA growth to TPA plans by LPs.

Note: Apologies for sound interference, this episode was recorded in a live setting.

AFI's Miami notebook:

https://alternativefundinsight.com/global-alts-notebook-tpa-plans-loeb-launch-cta-comeback-and-smas-in-spotlight/

Related on TPAs:

https://alternativefundinsight.com/global-alts-day-1-allocators-reveal-how-tpa-is-re-shaping-strategy/

More information about PivotalPath:

https://www.pivotalpath.com/

This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the . Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information.

Hosted on Acast. See acast.com/privacy for more information.

On the agenda this episode: a review of performance and flows trends in 2025, a historic year of hedge fund growth, with Declan Quilligan, head of hedge funds at Citco. Related materials:

AFI report on Citco research: https://alternativefundinsight.com/big-gains-and-returning-inflows-drive-landmark-year-for-hedge-funds-citco/

Citco report: https://www.citco.com/insights/citco-2025-hedge-fund-report

Download AFI's Multi-Strategy Outlook 2026 report, in association with Citco: https://alternativefundinsight.com/multi-strategy-outlook-2026/

Hedge Fund Allocator Power List research 2025: https://alternativefundinsight.com/hedge-fund-allocator-power-list/

AFI Hedge Fund Innovation Summit - view the gallery: https://alternativefundinsight.com/afi-innovation-summit-2025-gallery/

View our 2026 events schedule: https://alternativefundinsight.com/events/

Contact the team to get involved! commercial@alternativefundinsight.com

2026 headline partner

This podcast is brought to you in association with Citco, the leading asset servicer with over $2 trillion of assets under administration (AUA) and the top hedge fund administrator according to the AFI 500 research ranking. Citco acts as a true partner to its clients, dedicated to developing rich long-term relationships through gold standard services and industry leading technology. Head to Citco.com for more information.

Hosted on Acast. See acast.com/privacy for more information.