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Artwork for RPM - Reflections on Private Markets

RPM - Reflections on Private Markets

StepStone Group
Private Equity
Stepstone Group
Real Estate
Responsible AI
Private Debt
Infrastructure
Interest Rates
Private Markets
Artificial Intelligence
Limited Partners
Data Economy
Infrastructure Secondaries
Evergreen Fund Structures
Valuations
Market Conditions
Real Estate Liquidity Insights
Stepstone Real Estate
Emerging Managers
Investment Opportunities
Generative AI

StepStone Group explores the world of Private Markets through conversations with our thought leaders on key developments across private equity, private debt, real estate, and infrastructure. In each episode a member of StepStone’s investment team will discuss the data, trends, and insights helping shape investors' portfolios.

PublishesTwice monthlyEpisodes62Founded6 years ago
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Artwork for RPM - Reflections on Private Markets

Latest Episodes

Host Michael Venne sits down with StepStone's Tyler Johnson and PitchBook's Paul Santarelli to discuss what's changing — and what deal-level benchmarking actually unlocks for GPs, LPs, and the market at large.

In this episode:

* Why fund-level ben... more

This episode of RPM explores the evolving landscape of venture capital in 2026, focusing on market shifts, liquidity challenges, and strategic opportunities in secondaries and selectivity. Experts Stephen West and Anthony Giambrone sit down with Mari... more

In this episode of RPM, Michael Venne sits down with Akhilan Nesaratnam to explore why UK private equity has quietly outperformed, despite the noisy macro backdrop. They unpack three forces shaping the market’s edge—scarcity, specialism, and successi... more

In this episode of RPM, Miguel Sosa and David Robbins join co-host Anna Marcus to unpack the implementation gap holding advisors back from private markets—exploring why shifting public market dynamics demand a rethink of the traditional 60/40 portfol... more

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Recent Guests

Paul Santarelli
Chief Solutions Officer, PitchBook
PitchBook
Episode: Beyond top quartile: what deal-level benchmarking unlocks for private market investors
Tyler Johnson
Partner and Chief Technology Officer, StepStone; architect of SPI
StepStone
Episode: Beyond top quartile: what deal-level benchmarking unlocks for private market investors
Stephen West
Partner on Venture Capital and Growth Equity team
StepStone Group
Episode: Venture's shifting landscape: liquidity, selectivity, and secondaries
Anthony Giambrone
Partner on Venture Capital and Growth Equity team
StepStone Group
Episode: Venture's shifting landscape: liquidity, selectivity, and secondaries
Akhilan Nesaratnam
Guest on UK private equity edge discussion
StepStone Group
Episode: Finding an edge in UK private equity: Scarcity, specialism, and succession
Miguel Sosa
Managing Director and Senior Investment Strategist, StepStone Private Wealth Solutions
StepStone Private Wealth Solutions
Episode: Implementation framework
David Robbins
Director, StepStone Private Wealth Solutions (RIA channel focus)
StepStone Private Wealth Solutions
Episode: Implementation framework
Ted Panarese
Managing Director at StepStone in New York, co-head of emerging managers discussion
StepStone Group
Episode: The case for emerging managers with Ted Panarese and Aditya Fontana-Raina
Aditya Fontana-Raina
Managing Director at StepStone in New York, co-lead for lower middle market buyout coverage
StepStone Group
Episode: The case for emerging managers with Ted Panarese and Aditya Fontana-Raina

Hosts

Michael Venne
Host of RPM, StepStone
Anna Marcus
Host of RPM

Reviews

4.8 out of 5 stars from 38 ratings
  • Great Insight

    Michael and Maribel excellently moderate these short burst pods with very knowledgeable guests.

    Apple Podcasts
    5
    Poppa121121
    United States2 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Guests are consistently knowledgeable and well-prepared.
Strong emphasis on frameworks and actionable takeaways for advisors and institutions.
Moderators Michael and Maribel keep discussions focused and accessible for both guests and listeners.
Content is data-driven and practically oriented for portfolio construction.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#229
Canada/Business/Investing

Talking Points

Recent interactions between the hosts and their guests.

Beyond top quartile: what deal-level benchmarking unlocks for private market investors
Q: What changes when the deal-level benchmarks are opened up to a broader market?
It shifts the focus from fund-level comparisons to granular drivers like individual deals, strategies, and operating metrics, enabling LPs and GPs to understand how value is created and how performance compares across specific bets and sectors.
Beyond top quartile: what deal-level benchmarking unlocks for private market investors
Q: From your seat across the broader market, what's the state of benchmarking today and where do users hit a wall?
Benchmarking in private markets has traditionally been at the fund level, which shows you how a fund ranked but not exactly how it got there. The lack of standardized, deal-level visibility has limited the ability to explain value creation and compare portfolios on an apples-to-apples basis.
Implementation framework
Q: What is the biggest misconception advisors have about private markets?
The misconception is that private markets are too difficult to invest in; in reality, understanding is conceptually similar to public markets, and with the right education and structures, investments can be more accessible and scalable.
Implementation framework
Q: What are the three investor archetypes used to guide conversations and scalability?
The conversation can start from three archetypes: income, balance, and growth, which helps tailor allocations (for example, private credit for income, venture for growth, and infrastructure as a stable, scalable core); this triad makes implementation more scalable across clients.
Implementation framework
Q: Why do advisors believe in private markets but hesitate to implement them?
Education and awareness are high, but practical barriers such as education gaps, lack of resources to implement, and the complexity of structures make scalable adoption challenging; the paper and framework aim to address these by clarifying options and providing a roadmap.

Audience Metrics

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Frequently Asked Questions About RPM - Reflections on Private Markets

What is RPM - Reflections on Private Markets about and what kind of topics does it cover?

The show consistently covers private markets across private equity, private debt, real estate, and infrastructure, with data-driven conversations led by StepStone investment professionals. Episodes often feature practitioners who translate complex market dynamics into practical takeaways for portfolio construction, risk management, and client education. A notable strength is the blend of rigorous analysis with real-world frameworks—ranging from implementation playbooks for advisors to emerging-manager diligence—making it valuable for professionals responsible for asset allocation, advisor education, and institutional-like decision making. A recurring highlight is in-depth discussions tied to actionable frameworks, governance, and data-backe... more

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Which podcasts are similar to RPM - Reflections on Private Markets?

These podcasts share a similar audience with RPM - Reflections on Private Markets:

1. Dry Powder: The Private Equity Podcast
2. The View From Apollo
3. Capital Allocators – Inside the Institutional Investment Industry
4. Masters in Business
5. The Meb Faber Show - Better Investing

How many episodes of RPM - Reflections on Private Markets are there?

RPM - Reflections on Private Markets launched 6 years ago and published 62 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on RPM - Reflections on Private Markets?

Recent guests on RPM - Reflections on Private Markets include:

1. Paul Santarelli
2. Tyler Johnson
3. Stephen West
4. Anthony Giambrone
5. Akhilan Nesaratnam
6. Miguel Sosa
7. David Robbins
8. Ted Panarese

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