All Insights

Revenue growth and margin expansion drove 92% of U.S. private equity returns last year. Multiple expansion has taken a back seat in a higher-rate environment.

Despite softening private credit sentiment, the lower and core middle market continue to offer a differentiated and less competitive opportunity set.

In the first episode of Can We Talk in Private?, the new podcast from Future Standard, hosts Alan Flannigan and Andrew Korz sit down with Future Standard Chief Investment Officer Mike Kelly to share their views on the major themes driving private markets.

Our Midyear Outlook identifies the defining trends reshaping private markets and where we see opportunity across private equity, private credit, commercial real estate and infrastructure.

Amid rising tech concentration, middle market private equity can help diversify portfolios through broader sector exposure.

Middle market AI adopters report stronger revenue growth and faster expansion than their non-adopting peers.

The U.S. middle market offers access to a broad and diverse segment of the economy that is often underrepresented in portfolios.

CRE debt and equity have historically offered meaningful diversification benefits, even relative to other private markets.

As investors increasingly turn to evergreen funds for private markets exposure in more investor-friendly vehicles, the opportunity set must be weighed against key considerations around liquidity, fees and fund structure.

In this conversation, Michael Bogdan, Managing Director and Head of Digital Infrastructure, shares how his team approaches investing in this evolving market and where they believe disciplined investors can find attractive risk-adjusted returns.

Public markets have become increasingly concentrated and represent a shrinking share of overall corporate growth. The U.S. middle market offers access to a large and underrepresented segment of the economy, providing differentiated opportunities for growth and diversification.

CRE debt has matched or outpaced CRE equity since year-end 2018, with less volatility. It remains well-positioned amid today’s elevated yield environment.