The sale of alternative investments has seen "boom and bust" cycles over the past 20 years. According to InvestmentNews, for years large Wall Street firms ignored the nontraded alternative asset industry, but that no longer is true. A growing number of Wall Street firms have begun selling alternative investment products through independent broker-dealers.
After the broad stock market stumbled in January, investors ran to alternative investments, purchasing $10.5 billion in nontraded real estate investment trusts (REITs), business development companies (BDCs), and other illiquid assets, according to investment bank Robert A. Stanger & Co. Inc. Stanger projects $120 billion in sales of alternative investments this year, with broker-dealer sales of nontraded REITs and BDCs hitting $45 billion and $40 billion, respectively.
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