AFI Private Markets episode 1: Nicole Grützmacher, FERI



Nicole Grützmacher is Director, Alternative Investments & Senior Investment Specialist at FERI, the German investment firm. She joins AFI founder Will Wainewright on the first episode of the PM podcast to explore the future of the space, the allocation priorities on her mind, how she views technology and much more. View topics by time-stamp below.

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Get in-person insights at the AFI Private Markets Innovation Summit in Mayfair on Thursday 11 June 2026. Request your invitation now to this exclusive gathering bringing together senior executives from private asset GPs and LPs for a day of discussion, networking and best practice benchmarking in the heart of London.

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0:00 – Introduction
0:59 – Private Markets Innovation Summit: Register now
2:05 – Start of interview. Nicole’s route into private markets.
3:38 – Expansion of private markets and role at FERI.
6:01 – Changes in approach of last few years, asset allocation make-up.
9:13 – Why have private markets become more attractive to investors in the past decade?
10:31 – What do you look for in a private markets manager?
12:36 – Opportunities most excited by ahead in private markets.
14:28 – European focus.
14:40 – Focus on private debt.
16:06 – What impact is AI having on the business?
17:04 – Is this expansion going to continue?