The Liquidity Illusion
What Happens to Private Credit When Markets Break A Client Perspective | January 2026 There is a structural problem hiding inside many investor portfolios right now, and it tends to stay hidden right up until the moment it matters most. Over the past several years, the financial industry has packaged private credit and other illiquid alternative assets into publicly traded or semi-liquid wrappers. Interval funds. Non-traded REITs. Business development companies. Tender offer funds. The pitch has been straightforward and appealing: access the return premium of private markets without giving up the liquidity of public ones. It is a seductive proposition. [...]
How Rising Interest Rates Are Reshaping Strategic Asset Allocation
The investment landscape has undergone a profound transformation. After more than a decade of ultra-low interest rates, we are now in a sustained period of higher rates. This shift is not just a temporary dislocation; it marks a structural change with long-lasting implications. For long-term investors, particularly those managing complex portfolios or multi-generational wealth, rising interest rates necessitate a rethinking of foundational principles in strategic asset allocation. The "free capital" era is over, and with that, traditional models for risk, return, and capital deployment require thoughtful recalibration. At our firm, we believe this inflection point presents not just challenges, [...]
What Happens to Private Credit When Markets Break A Client Perspective | January 2026 There is a structural problem hiding [...]
The investment landscape has undergone a profound transformation. After more than a decade of ultra-low interest rates, we are [...]
