According to McKinsey, “the past 18 months have planted multiple seeds of disruption which are setting a dynamic new horizon of growth for the industry in the coming decade". Investors are evaluating how traditional tools and portfolios may be evolving and identifying new opportunities to provide risk adjusted returns, while grappling with other challenges like more inclusive investment teams and impact investment solutions. This panel will examine how the gains of the previous market cycles were not shared equally: as in years past and how the tide of rising markets failed to lift all alternative managers’ boats. Firms showing improved growth were a mix of large, diversified managers playing across investment styles and asset classes, and specialists focused on a particular asset class or set of investment strategies.