All Insights

New commercial real estate deliveries are set to plunge in 2025 and beyond, setting the stage for an improved sentiment in the near term.

The positive correlation between stocks and bonds has broken a 20-year trend of low-maintenance diversification. We argue this is not a cyclical anomaly but the start of a new regime.

The Magnificent 7 makes all the headlines, but private equity has quietly outperformed the S&P 500 over the past 5-, 10-, 15- and 20-year periods.

Private, non-bank lenders have stepped into the void to meet the diverse borrowing needs of companies and individuals alike, creating a significant investment opportunity within the private asset-based finance market—a missing piece of many private credit allocations.

A conversation with Jeff Erdmann, founding partner of The Erdmann Group at Merrill Private Wealth Management

Direct lending loss rates compare favorably to much of the leveraged finance market, as this week’s chart shows.

Private credit investors’ realized losses have been about half that of unrealized markdowns during the past three periods of market stress.

We explore why public markets are a poor mirror for the strong middle market, and how investors can use alternatives to gain access.

Lenders requiring more equity and less leverage, suggesting healthy private credit lending standards.

Traditional diversifiers are offering little to no reliable downside protection. Low-correlated alternative investments may provide a solution.

Why the U.S. middle market continues to offer private equity investors a more attractive opportunity set versus the large and mega cap market

Middle market private equity sponsors have historically provided outsized value compared to their large cap peers.