All Insights

As investors concentrate capital in the largest PE funds, smaller managers have delivered stronger returns.

Our Chief Market Strategist looks at the latest trends in U.S. markets and private markets strategies.

42% of global private capital fundraising went to funds targeting $5 billion or more, representing a significant mismatch between inflows and performance.

With North American private equity (PE) AUM nearing $5 trillion, secondaries offer a unique entry point to the market.

Private markets entered 2025 with unabashed optimism, and exited the first half with a reality check. Amid this volatility, there are deeper shifts percolating beneath the surface that presage a new era of private markets investing.

Will U.S. economic exceptionalism survive the transformations of our time? We analyze its underpinnings, weigh its resilience and provide a playbook for investing in a new era.

Private credit deals have moved away from tariff-sensitive sectors and toward defensive areas since Liberation Day in April.

Amid tariff shifts, the U.S. middle market offers exposure to domestically focused companies with more localized revenues and supply chains.

In this episode, our Investment Research team explores what recent developments in tax reform, U.S. trade and fiscal policy may mean for investors.

Our base case remains one of continued expansion, albeit with slowing momentum and a narrowing set of growth drivers.

As markets accept a higher-for-longer rate environment, stock-bond correlation has spiked, providing a challenge for the traditional 60/40 portfolio.

Large-cap PE sponsors have historically been willing to pay an attractive premium compared to corporate buyers.