Episode 2 / 2026 – Private Markets
In the second episode of 2026 of Gamma Explains we explore the topic of Private Markets – the asset class including investments in companies or real assets, which are not traded publicly.
Against this backdrop, Andrea Beltratti (Chairman of the EFG Gamma Foundation and Full Professor at Bocconi University) and Andre Portelli (Head of Investment & Client Solutions, EFG International) provide a definition of private markets and why they are an interesting asset class. They also discussed the evolution of this asset class over the last few decades until today, and their importance in terms of portfolio diversification.
Andrea Beltratti
Andrea Beltratti is Full Professor in the Department of Finance at Bocconi University, Academic Director of the Executive Master in Finance – EMF at SDA Bocconi School of Management, Chairman of Revo Insurance and Chairman of the EFG Gamma Foundation.
He had been Chairman of Eurizon Capital until 2024 and of the Management Board of Intesa Sanpaolo until May 2013.
Andrea has a Ph.D. in Economics from Yale University, where he wrote a dissertation on financial market volatility under the supervision of Prof. Robert Shiller.
He has been member of the Board of Directors of EFAMA (European Fund and Asset Management Association), President of the FEDUF (Fondazione per Educazione Finanziaria), and part of Investment Committees of institutional investors.
Andre Portelli
Andre Portelli is the Head of Investment & Client Solutions and a member of the Executive Committees of EFG International and EFG Bank since 01 February 2024. He is also a member of the Global Business Committee of EFG International as of the same date.
As Head of Investment & Client Solutions, Andre Portelli is responsible for EFG’s global investment activities, including all discretionary and advisory mandates, research and for the full range of investment funds managed by EFG Asset Management.
Andre Portelli is a senior banking executive with more than 20 years of experience in private banking and investment banking. From 2017 until joining EFG in 2024, he was Global Co-Head Investments and Global Head Strategic Solutions Group and Private Markets at Barclays Private Bank. Prior to that, he held various senior roles at UBS, including Head of Private Solutions, EMEA, UBS Investment Bank, from 2010 to 2017. He previously also worked for Nomura and Lehman Brothers in the UK, the UAE and Switzerland.
Andre Portelli was born in 1976 and is a Maltese citizen. He holds a Master in International Economics & Management, Money, Banking & Finance from the Bocconi University Business School, Milan.
