By Massimiliano Saccone, CFA, Founder & CEO, XTAL Strategies Private equity investors are increasingly disappointed with DPI levels, which show no sign of improvement. Distributions are running at 50% of their average historical levels, relative to NAVs[1]. In this context, LP capital should not necessarily be patient anymore. Inertia threatens to transform a long-term, patient […]
By William J. Kelly, CAIA, Founder & Managing Member, Educational Alpha LLC The Executive Order (“EO”) has been issued, and we need to move on from the “why?” or “why not?” There is nothing more to add to what has already been said, and it is interesting to note that the vast […]
By Winston Ma, GPIFF Executive Director and Adjunct Professor, NYU School of Law In June 2025, the Los Angeles Lakers, one of the most iconic franchises in global sports, was sold for a record-breaking $10 billion. The buyer, Mark Walter—already a stakeholder in the Los Angeles Dodgers and Chelsea FC—executed the deal through TWG Global. […]
By Jacob Miller, Chief Solutions Officer, Opto Investments The Greatest Tailwind Ever Told U.S. equities haven’t just been good for the last 40 years—they’ve been gift-wrapped, thanks to three macro forces that lined up like a NASA launch window: Interest rates that fell almost uninterrupted from Volcker’s 20% peak to near-zero A historic […]
By Claire Sawyer, Associate Director of Content Development, CAIA Association It’s no secret that private markets have undergone some pretty dramatic changes in recent years. The historical divide between public and private is narrowing, forcing both GPs and LPs to rethink their typical playbook. For those focused on alts, this convergence introduces […]
By George Aliferis, CAIA, Founder of orama.tv and Host of the Investology podcast The global landscape for pensions is shifting. In the UK, these changes are highlighted by the recent Mansion House Accord, which signals a coordinated push to evolve the UK’s pension system towards more private assets, by the leading UK DC (defined contribution) schemes […]
By Dhruv Sharma, PhD, Executive Director, Multi-Asset Research at MSCI Are client portfolios truly optimized if core components of the client’s wealth, such as a family business or significant real-estate holdings, are managed separately from the client’s more liquid investments? For many professional investors and advisors, this question strikes at the heart of […]
By Fernando Walter Lolo, CAIA The objective of this analysis is to provide a summarized framework of key drivers to trade cryptocurrency, supporting Chief Investment Officers (CIO), portfolio managers, crypto hedge funds (HF) traders, wealth managers, allocators, practitioners, and investors in their job. This analysis includes my own calculations, assessments, and estimates, which […]
By Rohit Yadav, CAIA Venture is at a true inflection point—not just experiencing a minor disruption but undergoing a fundamental misalignment. Don’t get me wrong, this dissonance isn’t inherently negative. Instead, it signals a pivotal moment in the evolution of venture, one that calls for a deep, inside-out rethinking of what the […]
By Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDPManaging Director, Global Content Strategy, CAIA Association Asset-based lending (ABL) has undergone a quiet but significant transformation in recent years. Once viewed primarily as a capital source of last resort, used only when traditional cash flow-based financing wasn’t available, the asset class has evolved into […]