Distributing Alternatives: From Launch to Success
Go inside the bag with Al Haworth. Al helped lead Preferred Apartment Communities launch into the advisor market. PAC’s success led to Blackstone's purchase of the portfolio for $5.8 billion. Go Inside the Bag as we discuss Al’s insights into what it takes to achieve distribution success.About Interviewee
Drawing on over thirty years of industry experience, Al Haworth, former CEO at Preferred Apartment Communities, shares his expertise in this discussion. He delves into the process of launching a sales effort for an alternative product, covering topics such as capital requirements, the time needed to achieve significant sales, and more.Timestamps
01:23 Career overview09:36 Starting with Preferred Capital Securities
14:14 The business plan
18.08 Selling agreements
19:42 The critical aspect of success
22:59 The time required to achieve significant sales
26:32 Overcoming challenges
27:29 Recruiting sales reps
29:23 The Significance of National Accounts
29:54 Advice for new sponsors
33:17 The future of alternative distributors
39:02 What to look for when recruiting