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Eileen Loustau Benedicte Gravrand, Opalesque Geneva:

Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital.

Unlike traditional retirement accounts, self-directed IRAs, retirement accounts that give US investors control over their investment choices, allow investors to use tax-advantaged money to buy alternative assets. These IRAs can hold everything from private corporate stock to hedge funds to limited partnerships.

PENSCO, an alternative asset custodian for clients’ IRAs, has seen investors increasingly turn to private equity and other alternatives for diversification and potentially higher returns of late.

The firm, which has offices in San Francisco, Denver and Portsmouth, NH, was founded by Tom Anderson in 1989. Initially, it helped clients purchase direct real estate with their retirement accounts. But then PENSCO has diversified over the past 10 years, and now also helps people purchase private equity, private funds, secured notes, lending, etc.

The IRS provides a fair amount of flexibility with regards to the assets held in a self-directed IRA, explains Eileen Loustau, SVP, marketing director at PENSCO. "The guidelines are actually fairly broad so long as it is for investment purpose......................

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