Investing outside of the Mag 7: Private equity

US Equities (^GSPC, ^DJI, ^IXIC) are moving higher on Tuesday afternoon as the broader market anticipates the Federal Open Market Committee not to move interest rates following its two-day meeting. Alger Director of Market Strategy Brad Neuman joins Yahoo Finance to discuss potential plays for investors as the Federal Reserve appears to embrace a higher-for-longer approach.    Neuman suggests that investors consider alternative asset managers: "So here I'm talking about the public equities of companies that invest in private equity. The case for these stocks is that institutions like pensions endowments have like a 20% to 30% of their allocation into privates, but the mass affluent in this country is about a 3% allocation. In fact, just recently this week CalPERS announced they would be 40% private markets." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino