McKinsey & Company (McKinsey) recently released a report analyzing current and future trends in the global alternative investment market.  The report is the culmination of a multi-year global research project on the alternative investments landscape.  McKinsey provides several insights of relevance to hedge fund managers that offer or are considering offering retail products, and concludes its report by outlining strategic imperatives for traditional asset managers seeking to win in the alternatives market.  This article summarizes highlights from McKinsey’s report, emphasizing findings of particular interest to hedge fund managers.