Asset Class Insights and Education

Private equity is one of the main ways investors gain exposure to privately held companies, creating value mainly through operational improvements that aim to grow revenues and expand margins.

A Net Lease is a long-term, single-tenant lease where the tenant pays base rent plus some or most operating expenses like taxes, insurance, and maintenance. For investors, it offers predictable cash flows, appreciation potential, certain tax advantages and a potential hedge against inflation.

Private Credit consists mainly of six strategies: direct lending, asset-based finance, distressed debt, mezzanine lending, special situations and venture debt. Here, we provide an overview of how each strategy works, the key risks and benefits, and how each strategy could fit within a portfolio.

The software sector has undergone a dramatic reset — erasing nearly $2 trillion in public equity value — as investors grapple with the implications of AI. But is this a true disruption, or a misreading of where value will ultimately accrue?

Net lease investing has grown increasingly popular for its stability and inherent low-risk approach to real estate investing. In a…

Investors in alternative investments—and the advisors who guide them—need to carefully assess the many tax considerations that can materially affect…

Private Credit investing is a form of lending capital outside of the traditional banking system, where lenders work with borrowers…

A combination of motivated sellers, increasingly engaged buyers, and greater availability of debt is creating favorable conditions for a rebound in transaction activity and asset values.

Signs of excess in the AI space are appearing – and the market may be ripe for creative destruction in 2026. Thus far, vast amounts of capital have been spent funding a to-be-determined future revenue. We question how long the appetite for funding the hopes of future revenue will persist.

We expect new deal demand and a large refinancing wave to gradually overtake private credit supply… allowing lenders to preserve discipline, strengthen terms, and capture the illiquidity premium to public markets.

We believe the present cycle has several more years to run, leading to healthier exits and distributions to PE investors. Learn why in our 2026 outlook.

This paper introduces our proprietary Private Markets Asset Allocation Framework (PMAAF), designed to help investors think about how to allocate their dry powder across private markets and cycles.

The term “alternative investments” is broad and, in our view, not particularly descriptive or useful. It encompasses all strategies that cannot be accessed through traditional equity and fixed income solutions. These strategies have the potential to address many of the challenges that investors face today—the need for enhanced income, inflation protection, diversification, and stability amid…

Most investors are familiar with traditional investments, which include cash and long-only positions in publicly traded stocks and bonds. Alternative investments are comprised of more complex investments and include private strategies focused on illiquid holdings. Within the private alternatives universe, asset classes include private equity, private credit, real estate and infrastructure. Among these asset classes,…

In particular, the wealth management segment is fast emerging as a key private markets growth area. McKinsey projects that private markets allocations will comprise 3-5% of U.S. wealth management assets by 2025 from 2% in 2020, a rise of $500 billion to $1.3 trillion in assets. Investor requests for increased liquidity and accessibility has been…