AssetMark Enters Private Markets Funds Space

Editorial Staff

21 November 2025

AssetMark, a US wealthtech, is entering into the private markets sector, and working with alternative asset managers Apollo, Carlyle, KKR, and StepStone Group.

The firm said in a statement this week that it is “empowering advisors with access to private markets interval funds and professionally managed strategies.”

AssetMark said it now provides access to four private markets semi-liquid funds – Apollo Diversified Credit, Carlyle Tactical Private Credit, KKR Real Estate Select Trust, and StepStone Private Infrastructure Fund. These funds are integrated into AssetMark’s unified managed account technology.

The business has been expanding. Earlier in November, AssetMark said it was buying Efficient Advisors, an asset management platform with $3 billion in client assets, from its owners, Fiduciary Services Group.

The firm’s strategies comprise “growth,” “income” and “preservation,” melding funds into a single solution at an investment minimum of $10,000. Advisors can also access professionally managed, total portfolio solutions through GPS Select Access and Savos Personal Portfolios Access, starting at $250,000 minimums.

AssetMark is part of a trend of firms seeking to exploit a rising amount of interest in non-listed company investments, given that the number of publicly listed US companies has shrunk from more than 8,000 in the 1990s to fewer than 4,000 today. The firm said that its survey work shows that the vast majority of advisors think that access to private market investments is an important way for them to stand out from competitors.

The Trump administration’s move to allow private market assets to be held in 401 retirement accounts, and lawmakers widening the scope of Accredited Investor rules, have boosted the demand side of the private market equation.

“AssetMark’s expansion into private markets is a natural evolution of our strategic growth platform,” Lou Maiuri, group CEO and chairman of AssetMark, said.