Two private-equity bros stroll true into a Nobu. One thinks customary folk investing in private markets is a swell belief. Stockmarkets are so concentrated that procuring for the S&P 500 index is nice of project on a handful of massive technology companies, he says. Everyone wants diversification. Non-public credit is right here to live and the bond market isn’t even that liquid. That corners of finance beforehand open most attention-grabbing to institutions and the very well off are now accessible to more folk is a great component. Imagine the costs.

This text appeared within the Finance & economics share of the print edition below the headline “Barbarians on the porch”