Data sourced from Dakota Marketplace, the global LP and GP intelligence platform trusted by thousands of investment professionals. Learn More | Book a Demo
RIAs have historically reached private markets in one of two ways. They buy access through platforms and evergreen funds built by others, or they build their own vehicles. Those two paths are starting to meet.
A small but growing group of RIAs now launch evergreen funds of their own. These are registered vehicles the RIA sponsors, typically multi-asset or credit strategies built from outside managers. As of June 30, 2026, 16 of these funds held about $6.0B in total managed assets, and more than half launched after mid-2024, according to our report, The $14T RIA Market: How to Win Assets.
For investment firms raising capital from RIAs, these vehicles change who you need to win. One approval from an RIA’s investment team can put a strategy in front of the firm’s entire client base.
In this article, we’ll cover the five largest RIA-sponsored evergreen funds, how these vehicles work, how concentrated the group is, and what it means for managers.
The Top 5 RIA-Sponsored Evergreen Funds
Ranked by total managed assets (TMA) as of June 30, 2026 from Dakota Marketplace.
1. BBR ALO Fund
TMA: $1.89B
Strategy: Specialty / Other
RIA: BBR Partners
BBR ALO Fund is the largest vehicle in the group and holds nearly a third of its assets on its own. BBR Partners is a New York-based firm with about $36B in AUM and a relatively small client roster. That combination of large balances and few clients is what makes a fund this size possible. A single vehicle at BBR reaches clients with the capital and eligibility to commit at scale.
2. Beacon Pointe Multi-Alternative Fund
TMA: $1.08B
Strategy: Multi-Asset
RIA: Beacon Pointe Advisors
Beacon Pointe launched the fund in July 2024 and passed $1B within two years. It invests mainly in other managers’ evergreen funds across private credit, private equity and real estate. Beacon Pointe is an RIA aggregator with about $55B in AUM and offices across the country, so one fund gives every advisor in that network the same private markets allocation.
3. Corient Registered Alternatives Fund
TMA: $665M
Strategy: Multi-Asset
RIA: Corient Management
Corient is the largest firm on this list, an aggregator with roughly $165B in AUM and offices in dozens of U.S. metros. Its registered alternatives fund follows the same multi-asset approach as Beacon Pointe’s. Manager selection happens centrally, and the fund then reaches clients through the firm’s national office footprint.
4. Private Debt & Income Fund
TMA: $449M
Strategy: Credit
RIA: Brighton Jones
Brighton Jones is the only firm in the top five running a dedicated credit vehicle. The Seattle-based RIA manages about $19B, and the fund gives its clients a single, income-oriented route into private debt. Credit and multi-asset are the two strategies that dominate the wider group of 16 funds.
5. Dynamic Alternatives Fund
TMA: $422M
Strategy: Multi-Asset
RIA: Hamilton Capital
Hamilton Capital shows this model isn’t limited to the largest platforms. The Columbus-based firm manages about $4.9B, so its fund equals more than 8% of firm-wide AUM. For a mid-sized RIA, that makes the evergreen fund a core part of how clients get alternatives exposure.
RIA-sponsored funds put manager selection in the hands of a central investment team. Dakota Marketplace maps the people on those teams at each of these five firms, book a demo.
How These Funds Work
Beacon Pointe’s fund is the clearest example of the model. It launched in July 2024 and invests mainly in other managers’ evergreen funds across private credit, private equity and real estate. Its net assets roughly doubled over its latest fiscal year to $1.09B.
In practice, it’s an RIA-built fund of evergreen funds. The firm’s investment team does the manager research and due diligence once. It then packages that selection into one vehicle that any client in the firm can hold. Advisors don’t have to assemble private markets exposure fund by fund, and clients get a lower minimum and a simpler subscription process.
Most of the group works the same way. The RIA keeps the decisions about which managers are in the fund and how much each one gets, and it hands the vehicle structure and operations to a registered fund wrapper.
A Concentrated Group
The category is still small and top-heavy.
- The top three hold about 60%. BBR Partners, Beacon Pointe and Corient together account for roughly $3.6B of the group’s $6.0B.
- The top five hold about three-quarters. The five funds above total about $4.5B.
- The long tail is small. The other 11 funds total $1.47B combined, mostly in multi-asset and credit strategies.
With more than half the funds launched after mid-2024, much of the group is still in its first few years. The ranking will likely shift as newer vehicles grow, and as more firms that consolidate the channel decide to build rather than buy.
Why It Matters for Investment Firms
The decision sits with the RIA’s investment team. When an RIA runs its own evergreen fund, individual advisors aren’t choosing managers one client at a time. A central team builds the lineup, and that team is who you need to reach. This fits the wider shift the report tracks, where outside ownership by private equity sponsors and aggregators keeps moving allocation decisions to the home office.
Lower minimums widen the audience, and the RIA keeps control. These funds let a firm offer private markets to clients who could never meet a traditional drawdown minimum. The RIA still decides which managers make it in. For investment firms, one allocation can reach a much wider client base than a single family or advisor relationship, but the bar to get into the fund is institutional.
Evergreen-friendly strategies have an edge. Most of these vehicles invest in other managers’ evergreen funds. Managers with an evergreen structure, or one built to sit inside a fund of funds, are easier for these investment teams to underwrite and slot into the lineup.
Get in front of the team early. The best time to start is before a fund is launched or rebalanced. Learning how to call on an RIA’s home office and building that relationship early is what gets a strategy into the lineup.
Dakota Marketplace tracks 17,300+ RIAs and 46,000+ verified contacts across the wealth channel. These profiles include investment team bios, AUM, client counts, aggregator status and private markets preferences.
All five firms behind the funds on this list have full profiles, including office-level records for Corient’s and Beacon Pointe’s national networks. Across the five firms, we track 850 contacts, 729 of them employed directly at the firms, so you can find the investment team members who decide which managers go into each fund.
Want to see which RIAs are building their own private markets vehicles, and who sits on the teams making those decisions? Book a demo to see how Dakota Marketplace covers RIAs.
