Brookfield Oaktree's John Sweeney Sees Private Wealth's Alternative Investment Shift

In Brief:

In a recent interview on Alt Goes Mainstream podcast, John Sweeney, CEO of Brookfield Oaktree Wealth Solutions, discusses how he's harmonizing distribution across these powerhouse brands while building a 150-person global wealth team. Sweeney identifies a dramatic market shift: over 70% of their business now flows through evergreen funds versus traditional private placements, signaling easier execution and broader accessibility. He predicts the wealth channel's alternatives adoption remains in early-to-middle innings, with significant growth ahead driven by containerization and greater advisor education.

Big Picture Drivers:

• Brand Value: Building trust through consistent investment philosophy and long-term track records

• Containerization: Shifting from complex private placements to more accessible evergreen funds

• Scale Advantage: Large managers can better support global distribution and product development

• Megatrends: Positioning wealth solutions to capture digitization, deglobalization, and decarbonization

Key Topics:

• Wealth Channel Evolution: From cumbersome paperwork to digital platforms and evergreen structures

• Distribution Strategy: Building local teams with wealth experience across global markets

• Investment Philosophy: Focusing on buying well rather than financial engineering

• Service Excellence: Prioritizing client experience alongside investment performance

Key Insights:

• Education Priority: Advisor education is critical for private market adoption

• Advisor Survey: 90% of advisors using alternatives would allocate more if clients requested it

• Service Investment: Dedicated operations teams needed to ensure consistent client experience

• Regional Approach: Avoid exporting US-centric strategies globally; build local expertise

By The Numbers:

• Team Growth: From 8 people at Oaktree to 150 people across global wealth solutions

• Business Mix: Evergreen funds now represent over 70% of their wealth business

• Global Distribution: 50-60% US business today with strongest growth coming from Asia Pacific

• Wealth Allocation: Currently 3-5% in alternatives globally with models projecting 10-20%

Memorable Quotes:

• "Think about what has manifested after our risk control consistency—a bunch of good years, some great years, and no bad years."

• "The price you pay is oftentimes the main determinant of your outcome. That's an overgeneralization, but it rings true."

• "I still think we're in early innings. There's so much room to grow."

• "If I can deliver to you that nice 8, 10, 12 percent return, with very low risk... I think that's a great return."

The Wrap: 

As private markets become more accessible to wealth investors, firms with scale, global presence and operational expertise will likely dominate. Sweeney's integration of Brookfield and Oaktree demonstrates how large managers can leverage complementary strengths while maintaining distinct investment DNA. The rapid evolution toward evergreen products suggests private markets are approaching an inflection point where advisor education, brand trust, and accessible structures will determine which managers capture the growing allocation from wealth investors.