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After the 2008 financial crisis, more than a decade of zero-interest-rate policies drove an explosion in private credit products and funds that were initially marketed to institutions and pensions under the oxymoron of safe ‘high-yield’. Then, from March 2022 to … Continue reading →

Macro shocks are a constant throughout time. The market impact is often dramatic in the short-term. Longer-term, outcomes vary depending on the level of optimism that was priced in when the shock hits. Coming into 2026, most asset markets were … Continue reading →

Private equity returned fewer profits to investors for a fourth straight year as the industry sat on $3.8 trillion of unsold assets and struggled to raise money for new funds. Distributions as a percentage of net asset value remained at … Continue reading →