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Who We Are

The retirement plan landscape is constantly changing with regulatory mandates, product innovation and new approaches to investment strategies.  These types of changes can have an impact on plan design, investment menus, and ultimately, fiduciary decision-making.


DCALTA was created to help bridge the information gap on how to effectively incorporate non-traditional investments into defined contribution plans.   

Bridging the information gap.

There are many types of non-traditional investments and strategies that can be categorized as alternatives. Our global reach includes many stakeholders from the defined contribution community, Hedge Funds, Private Equity firms, Commodity Trading Advisors and other supporting entities.

Collectively, members are dedicated to seeking solutions to help overcome market bias and operational impediments that may limit the use of alternative investments within defined contribution plans.


Providing an ample opportunity set of investments is pertinent for sound investment decision-making. Fiduciaries need access to diversified investments when constructing plan menus, making allocation decisions and selecting/constructing plan default investment options.

Business Meeting
Our Mission


Enhancing and securing participant outcomes through education, research, and advocacy on the benefits of including hedge funds, private equity and other alternative investments within a defined contribution framework.

Board of Directors

Our Board of Directors represent different facets of the defined contribution industry and multiple alternative investment disciplines. They serve as a collective voice to effectively guide DCALTA`s strategic direction and ensure consistency with the delivery of educational content and information to our members and stakeholders. 

Board of Directors


Research Committee

Committee Chair

Hayden Gallary (Cambridge Associates)​

  • Created to produce research on alternative investments and their impact on defined contribution retirement plans

  • Charged with seeking out potential partner firms, associations and institutes to collaborate on pertinent and groundbreaking research

  • Conduct feasibility on utilizing different quality databases that support our research and other educational materials for the benefit of institutional investors, plan sponsors/participants and other DC stakeholders

  • Developing indices to help support our ongoing research  

Alts Implementation & Operations Committee (Alts I/O)​

Committee Co-Chair

Hayden Gallary (Cambridge Associates)​

  • To educate and inform on the operational considerations of incorporating alternatives in DC plans on a more frequently valued basis

  • Impact of the movement of cash flows and valuation at both the fund and participant level 

  • Collect information on the vehicles and structures being implemented currently/under development

  • Discuss ERISA required reporting and operational compliance activities

  • Discuss and explain participant level communications requirements

Committee Project Coordinator

Stuart Odell (Verus Investments)

Public Policy Committee​

Committee Chair

Bob Long (Conversus)

  • Educate regulators and legislators on the benefits of including alternative investments in defined contribution plans

  • Communicate DCALTA`s mission through in-person meetings and response letters to facilitate the inclusion of alternative investments in multi-asset DC portfolios To educate and inform on the operational considerations of incorporating alternatives in DC plans on a more frequently valued basis

  • Collaborate with and support other associations with like-minded initiatives

Alts Technology & Innovations Committee

Committee Co-Chair

Tom Lauer (Northern Trust) & Scott Brooks (Real Blocks)

The collective voice of this committee will drive a technology based and industry focused discussion, the goal of which is to apply appropriately designed modern technology to help eliminate the timing, liquidity and valuation process issues experienced in the alternative investment marketplace.


Our initial meetings focused on the process, roles and provider responsibilities involved when incorporating different types of funds into a defined contribution plan. We will be looking at what sections of the workflow can be solved by technology to facilitate a more effective and timely process.

DCALTA makes a global impact.

DCALTA is committed to education on global defined contribution retirement schemes and trends affecting industry stakeholders. As part of our mission, we seek to gather news and perspectives from other regions to foster dialogue on investments, cost/performance benchmarking, product innovation, governance and transparency initiatives.  Our EMEA Ambassadors help support and drive these key educational initiatives.



Massimiliano Saccone, CFA

DCALTA EMEA Ambassador

Massimiliano is the Founder and CEO of XTAL Strategies, an innovative private market indices and derivatives platform. He has developed a patented methodology for analyzing, indexing and hedging private fund performance and combines it with prior pioneering experience in the field of the retailization of alternatives at AIG Investments (now Pinebridge), where he most recently was a Managing Director and Global Head of Multi-Alternatives Strategies. Prior to that, Massi was Head of Institutional Portfolio Management at Deutsche Asset Management Italy (now DWS). He is a CFA Charterholder and a Qualified Accountant and Auditor in Italy, has a Master in International Finance from the Collegio Borromeo and the University of Pavia and a Degree cum Laude in Economics from the University La Sapienza of Rome. He is also a Lieutenant of the Reserve of the Guardia di Finanza, the Italian financial law enforcement agency.

Victoria Rock.jpg

Victoria Rock

DCALTA EMEA Ambassador

Victoria Rock is the former Head of Product for Ruffer LLP,  a UK headquartered Asset Management firm. She was responsible for Ruffer’s funds business which extends across multiple jurisdictions including the United States. Before this she was Head of Alternative Product for Legg Mason and was responsible for launching a number of alternative products targeted at retail and institutional clients including DC pension plans.


Prior to Legg Mason Ms Rock consulted to Coutts and Co, the UK Private Bank. She was hired by the COO to help set up a new product unit Strategic Solutions within Coutts Products & Services organisation. She successfully launched a commercial real estate advisory and a corporate finance service for Coutts’ clients.


Ms Rock spent more than 20 years at Citigroup where she was a Managing Director at the Citi Private Bank, heading up the Global Alternative Product Group. She oversaw a platform of $40 billion in assets across a range of alternative investments including hedge funds, private equity and real estate. As part of her role she sat on the Fund Boards as the Citigroup representative alongside the independent directors.


Miss Rock was educated at Manchester College Oxford where she studied history.    

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