-
Asset Class Outlook: Hedge Funds
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.
-
Asset Class Outlook: Private Credit
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.
-
Asset Class Outlook: Private Equity
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.
-
Private Markets Asset Allocation Framework
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.
-
Asset Class Introduction: Alternatives
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…
-
Asset Class Introduction: Private Equity
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,…
-
Asset Class Introduction: Semi-Liquid Evergreen Private Credit
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…
-
Portfolio Construction with Alternative Investments
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…
-
Asset Class Introduction: Semi-Liquid Evergreen Private Equity
With more than 99% of the 33 million businesses in the U.S. being privately held, institutional investors have long used private equity (PE) as a means to tap into this vast ecosystem of private companies. The reason is clear: returns from private equity have consistently ranked among the highest of any asset class on a…
-
Asset Class Introduction: Alternative Lending
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,…