Raising the Brand with Stephen Tisdalle, Chief Marketing Officer at Future Standard

Welcome to Private Equity Marketeer’s Raising the Brand, where we highlight the creative minds and strategic thinkers who are redefining how private market firms connect with their audiences, build trust and tell their stories.

In this edition, we sit down with Stephen Tisdalle, Chief Marketing Officer at Future Standard, the newly rebranded global alternatives manager formerly known as FS Investments.

With more than $86 billion in AUM and a transformational combination with Portfolio Advisors behind them, Future Standard is emerging as one of the most ambitious platforms in the private markets. Behind that ambition is a marketing team committed to clarity, conviction and telling the firm’s story in a way that stands out, not just to clients, but to the entrepreneurs and operators powering the economy.

We spoke with Stephen about the thinking behind the rebrand, how marketing supports performance and positioning, and what it takes to build a new brand.

Let’s get into it.

• About Stephen Tisdalle

  Stephen Tisdalle is Chief Marketing Officer for Future Standard and a member of the firm’s Executive Committee. In this role, Mr. Tisdalle is responsible for driving the firm's overall brand strategy and marketing functions globally. He leads the firm on all aspects of marketing disciplines, including brand positioning and design, channel and product marketing, digital strategy, lead generation and commercial PR.  

  Mr. Tisdalle, and the marketing teams he has led, are recognized for their award-winning campaigns that deepen engagement with target audiences. He previously served as the Chief Brand and Demand Generation Officer for TIAA and Nuveen Asset Management and was a member of their Executive Operating Committee. Prior to TIAA/Nuveen, he was the Chief Marketing Officer of State Street Global Advisors, where he pioneered and led the Fearless Girl campaign that inserted the brand in the national narrative on changing the composition of publicly traded company boards. Mr. Tisdalle previously served as Senior Vice President and Head of Marketing for OppenheimerFunds, Inc. and its subsidiary, OFI Global. He has a broad range of experience in various senior leadership roles in brand and advertising at both Ogilvy and Saffron Brand Consultants. He also has significant business strategy and change management experience from his roles at IBM and PwC Consulting, in both the U.S. and the E.U.

  He earned his MA in History from the University of California, Los Angeles and his BA (Hons) in History from the University of British Columbia.

  Mr. Tisdalle serves on the Board of Directors for Rock the Street, Wall Street and on the Board of Trustees for Park Street School.

From FS to Future Standard

Let’s start with the obvious - a new name, a new brand. What was the spark for this transformation and how did you decide on the core components such as the name and visual identity?

Stephen: There is a spirit of innovation that’s core to this firm. When FS Investments combined with Portfolio Advisors—an institutional private equity pioneer—it transformed our firm, and we needed a brand that communicated the combined firms’ commitment to staying ahead of the curve.

The alternatives sector is increasingly crowded, and standing out requires boldness, relevance and conviction. As pioneers in this space, we needed a brand that reflected our combined firms’ history but also looked forward and captured our commitment to client success. This belief—that our clients’ success is our success—guided every decision, from the strategies we pursue to the name we chose.

The name “Future Standard” and the brand identity that underpins it reflect our core mission—bringing together deep expertise under a brand that’s built not to follow, but to lead. It reflects our belief that specialization is power—that deep middle market expertise and long-standing relationships are key to unlocking value. And it captures the innovation that’s in our DNA: We challenge the status quo to create innovative investment solutions and adapt to evolving marketings to deliver strong, differentiated outcomes.

A New Name, but the Same North Star

Rebrands tend to focus on change, but equally important is what doesn’t change. What did you intentionally carry forward culturally, visually or strategically from FS and Portfolio Advisors?

Stephen: It was essential to carry forward the core strengths of both legacy firms: FS Investments’ track record of democratizing alternatives for wealth channel clients, and Portfolio Advisors’ deep institutional expertise in the middle market.

The rebrand wasn’t about reinvention, it was about bringing together two private markets pioneers and highlighting their conviction, clarity and client-centric mindset.

Earning the Right To Be Bold

Many private market firms opt for subtlety. Future Standard went big. Internally, how did you build conviction around this new direction, and how did you bring the organization on that journey?

Stephen: Brands need to be authentic. They need to reflect who you are and what you stand for. For us, that meant starting with leadership. Our CEO, Michael Forman, played a key role in defining the strategic direction we wanted to own. And from there, we spent countless hours with our portfolio managers, client teams, relationship leads and our clients themselves to validate that vision. We built alignment and conviction across the organization by grounding our process in listening.

From First Impressions to Lasting Impact

What does brand mean to you in private markets, where decisions are often driven by relationships and performance? How do you think about the role brand plays before, during and after the fundraising cycle?

Stephen: In private markets, brand is more than a visual identity, it’s a conversation starter. When someone hears Future Standard, it naturally invites curiosity. That gives us the opportunity to share how we think, where we invest and what sets us apart.

But brand doesn’t end at the introduction. It has to stay relevant throughout the investor journey. As alternatives become a larger part of portfolio construction, Future Standard helps us engage in that dialogue around allocation, specialization and long-term value.

Investors aren’t looking to be marketed to, they’re looking for insight. A strong brand helps them make better decisions and reflects a firm that listens as much as it leads.

Balancing Brand and Distribution

Marketing in alternatives often must navigate multiple lanes—brand, content, product and distribution. How do you think about that balance, especially in a world where limited partner (LP) expectations are higher than ever?

Stephen: It’s not either/or. It’s both. Brand sets the purpose and relevance to the audience, but distribution delivers the message and experience. At Future Standard, we work closely with our sales and relationship teams to make sure the story we’re telling is the story they’re living.

LPs expect transparency, insight and alignment. Our job in marketing is to show how those expectations are being met and exceeded across every touchpoint. One priority we had bringing together our two firms under one brand was ensuring that, no matter where a client interacts with us, they received the same consistent experience.

Strategy in a Specialized World

The latest Private Market Outlook challenges allocators to “follow the value, not the herd.” How do you think about translating investment themes and positioning into content that earns attention and trust?

Stephen: You have to distill complex ideas into something accessible and meaningful—something that earns trust.

At Future Standard, we do that by connecting what we believe to what our clients need. We have a tremendous depth of experience in the middle market, a space we’ve specialized in for over 30 years. That depth of expertise allows us to pull on threads in key market trends for our clients, offering insights that are not just compelling, but also differentiated and actionable.

Career Path and Perspective

Tell us a bit about your own journey. How did you find your way into private markets and how has your previous experience shaped the way you approach branding and communications today?

Stephen: My path wasn’t linear. I started as a history major, then found myself in aviation strategy. In fact, working with major airlines was how I first became fascinated by how brand builds loyalty and, ultimately, brand is about choice. How do we get you, the client, to choose us?

After 17 years consulting, I made the leap into branding. I joined Wally Olins in London and worked with clients like Goldman Sachs. That’s where I first took on the challenge of helping private market titans translate strategy into brand.

My experience has taught me successful branding is about listening, understanding and then creating a voice that reflects conviction.

Leading the Marketing Function

As someone leading brand in a large, fast-growing platform, what are the muscles you need to build—both individually and as a team—to thrive in this next chapter?

Stephen: Curiosity, collaboration and courage. You need to be curious enough to ask the right questions, collaborative enough to build across functions and courageous enough to take a stand.

As a team, we focus on being agile, informed and aligned. The market moves fast—so we have to move with it, without losing sight of who we are. That means leaning into data-driven insights and AI-powered tools to help us mover smarter and faster. Whether it’s optimizing content or identifying emerging trends, we use technology to stay ahead and make more confident decisions.

You’ve led some of the most recognizable brand campaigns in financial services—most notably Fearless Girl. What lessons from that experience have shaped your approach at Future Standard?

Stephen: Fearless Girl taught me the power of purpose and perspective. When a brand takes a stand—when it reflects a real belief—it resonates. At Future Standard, we’ve taken that same approach. We didn’t just want a new name; we wanted a brand that reflects who we are, what we believe and where we’re going. The lesson is simple: If you want to stand out, you must stand for something.

Advice for Emerging Managers

What advice would you give to a first-time fund manager or a solo marketer at an emerging firm trying to build credibility on limited resources?

Stephen: Know what makes you different and why it matters. You don’t need a big budget to build trust—you need consistency, authenticity and relevance. Don’t try to do it in a silo. Collaboration is key. Talk to your clients, listen to their needs and make sure your brand reflects the value you deliver. At Future Standard, we’ve built credibility not by being the biggest, but by being the most specialized.

Looking Ahead

What do you think the next wave of innovation in private markets marketing will look like? What are you most excited about as Future Standard continues to grow?

Stephen: I think the next wave of innovation in private markets marketing will center on personalization, data-driven storytelling and values. In an increasingly crowded sector, standing out requires more than just performance. It demands authenticity and a clear point of view. That’s where Future Standard stands out. Our name invites a conversation about what the next era of portfolio construction should look like, and we’re excited to lead that dialogue.

Bonus Round

If you weren’t building brands in finance, what would you be doing?

Stephen: Growing up in Zambia, I was captivated by kite flying, airplanes, anything that flew in the sky. That early fascination with the sky never left me. If I had taken a different path, I’d be exploring the next frontier: Space travel.

To me, space isn’t just about rockets and moon landings, it’s about breakthrough innovation and redefining what’s possible. Not so different from brand building, really.

What’s a brand outside of finance that you admire and why?

Stephen: One brand I admire outside of finance is Hoka. They started with a niche product beloved by ultramarathoners: Hyper-focused on comfort and performance. Then, by staying true to their core strengths, they scaled into the mainstream. Now they’re a seemingly unstoppable global market leader. It’s a powerful example of how specialization, authenticity and execution can build a brand that leads its category. At Future Standard, we’re inspired by that same approach: Deliver exceptional value, stay focused and scale with purpose.