Content (211)
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White papersPrivate credit’s evolution
The private credit market has experienced remarkable growth, reaching $1.7 trillion in assets under management and 13% annual growth since the 2008 financial crisis. Rather than signalling a bubble, this expansion represents the evolution of a maturing asset class, offering institutional investors compelling opportunities for those who can navigate its increasing complexity.
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White papersLooking past the chaos: the time for European real estate debt
The global commercial real estate market has undergone a profound transformation since mid-2022, with rising interest rates and macroeconomic uncertainty driving a significant repricing of assets—capital values have corrected by approximately 20–25% across Europe, creating one of the most attractive entry points for real estate debt investment in over a decade. Our latest research reveals why over 60% of institutional investors are planning to increase their real estate debt allocations, exploring how this asset class offers compelling risk-adjusted returns with lower volatility than traditional alternatives and examining the regulatory tailwinds and improved lending standards that position real estate debt as a strategic portfolio diversifier in today’s market environment. Read the full report to discover why this represents a compelling opportunity for institutional investors.
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White papersQ4 2025 Global Trends and Tactics
Global private real estate markets are experiencing a significant turnaround, with values climbing for five consecutive quarters and total returns turning positive across all 21 tracked countries in Q2 2025, marking a decisive end to the 2022-2024 correction. Transaction volumes have surged to $739 billion over the trailing year—a 19% year-over-year increase—while real estate debt markets present compelling opportunities as lending risk diminishes, though tighter pricing reflects intensifying competition for quality assets. Read the full report to explore the data driving this global recovery and understand the investment landscape ahead.
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White papersPower in Transition: Charting a path to a sustainable energy future through private equity investments
Power demand is accelerating from data center growth, electrification and population increases, while supply becomes more volatile and unpredictable due to extreme weather and variable renewable generation. The widening gap between demand and supply is driving more frequent outages and higher power prices, pressuring household and business budgets while threatening essential services. Bridging this gap requires significant investment on both supply and demand sides, creating opportunities to build a more resilient, affordable and sustainable energy system.
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White papersGlobal macro outlook: From policy divergence to structural dispersion
2026 shifts from monetary to fiscal dominance, with diverging growth paths across the U.S. deficit expansion, Europe’s €800 billion German investment surge, Japan’s normalization, China’s structural adjustment, and AI-driven productivity gains reshaping the macro environment. This policy-led backdrop creates relative value opportunities from infrastructure credit and periphery bonds to hedged Japanese equities and AI-ecosystem exposure—requiring active management to capture dispersion across multiple fiscal regimes.
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White papersTaxable municipal bonds: room to run
Taxable municipal bonds returned 6.43% year-to-date through Q3 2025, marking the best start since 2020, with spread advantages over similarly rated corporates providing runway for additional gains despite slight underperformance. Strong fundamentals—tax revenues and reserves at all-time highs—combine with compelling entry points from year-to-date underperformance, seasonal upticks in new issuance creating buying opportunities, and widening performance gaps between credits that make disciplined security selection increasingly critical for active managers seeking optimal returns.
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White papers2024-2025 Private equity impact report: Accelerating solutions for a world in transition
The world faces intertwined crises of escalating emissions, resource strain and growing inequality that amplifies vulnerability to climate change. Despite recent global market and regulatory shifts, a focus remains on backing growth-oriented, lower-middle market companies driving an inclusive transition to a low-carbon economy, with confidence in long-term fundamentals where impact initiatives align directly with performance rather than creating trade-offs. Our latest impact report highlights new investments across energy efficiency, resource optimization and circular economy solutions, enhanced ESG measurement and emissions tracking, industry partnerships, and portfolio case studies demonstrating growth and impact in action.
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White papersUnderstanding the modern electrical grid
The electricity grid is at the heart of the clean energy transition and is undergoing one of the most significant transformations in its history. Understanding the modern electrical grid is no easy task, but it is a necessary one, as the grid plays a critical role in economic growth, energy security and decarbonisation. Read our white paper which examines how the grid works, the impact of renewables, the evolution of grid technology and how investors can participate in its modernisation.
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White papersBeyond the basics: How secondaries can enhance your investment strategy
The private equity secondaries market has evolved over the past two decades from a niche solution into a bona fide asset class. What was once largely reserved for distressed sellers is now a sophisticated, and in our view, essential component of portfolio management for investors and private equity (PE) sponsors alike. So, what is behind the current explosion of secondaries activity? In this paper, Nick Lawler examines secondaries’ performance over multiple market cycles, their persistent structural advantages, three common misconceptions, and why current market conditions present a particularly compelling entry point.
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White papersGlobal equities overcome obstacles, remain in rally mode
Global equities delivered solid third-quarter results in 2025, with emerging markets leading non-U.S. benchmarks through nine consecutive positive months while U.S. shares rebounded from April’s tariff-driven selloff with the S&P 500’s best September since 2010. Despite diverging monetary policy, the Federal Reserve cutting rates to support a softening labor market while the ECB and BoJ held steady, equities rallied amid trade concerns and shifting earnings expectations. A broadly neutral stance balances growth-oriented U.S. technology stocks benefiting from AI with more defensive positioning in dividend growers, global infrastructure and utilities, which offer attractive income, lower volatility and exposure to rapidly expanding energy demand despite elevated valuations in some market pockets.
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White papersBond markets prove resilient amid systemic shifts
The U.S. economy has undergone major changes in 2025, including stimulative fiscal policy, tariff uncertainty, declining labor force growth and increased AI adoption. These systemic shifts create both opportunities and challenges, accompanied by significant uncertainty. Despite this fluid environment, fixed income markets have delivered strong performance across all major sectors, with many exceeding 6% year-to-date returns. Active management and diversified portfolios with moderate risk posture, emphasizing higher-yielding sectors, may help capitalize on historically attractive yields and emerging opportunities while navigating tremendous change.
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White papersAlternate routes: The Fed’s moves and implications for stocks, bonds and beyond
While the path ahead for the economy and markets remains uncertain, compelling fundamentals emerge across asset classes, from traditional and alternative credit sectors offering attractive yields to opportunities in U.S. large cap stocks, real estate and infrastructure, with insights spanning the Fed’s policy implications, key economic indicators, asset class positioning, portfolio construction themes and actionable investment ideas.
