Opening up alternative assets to non-institutional investors, from HNWIs to 401(k) account holders, represents up to $80trn. It’s an alluring pot of capital for an industry with flatlining annual fundraising figures in some asset classes. And yet, multiple headwinds exist, making the journey towards increasing democratisation far from straightforward.
10 min read · 20 October 2025
Further technology advances are required to truly unlock the potential of the private wealth market.
6 min read · 20 October 2025
Spread compression, the First Brands bankruptcy and geopolitical risk were among the talking points at our annual gathering in Munich.
3 min read · 16 October 2025
Talk has been growing louder about capital migrating away from the US and the rise of private credit secondaries. Evidence for both has emerged in our latest research.
2 min read · 09 October 2025
As the $87bn California pension approves change to remove a cap on manager names in the portfolio, CIO Jonathan Grabel says the system doesn’t have unique concern about credit market.
3 min read · 09 October 2025
With GP-led deals taking centre stage amid a subdued M&A market and LP thirst for liquidity, private credit secondaries have a big role to play in the asset class’s future. By Daniel Roddick of Ely Place Partners.
5 min read · 07 October 2025
Staff of the $60bn Arizona State Retirement System, a long-time private credit investor, are still mostly optimistic about the asset class amid a push to diversify the programme.
3 min read · 07 October 2025
Why the ‘good’ vs ‘bad’ PIK debate is also about junior capital vs senior debt.
3 min read · 02 October 2025
Amid the struggles in private markets fundraising, private debt has fared relatively well. But investors have concerns, and that means their manager due diligence is getting more demanding.
10 min read · 01 October 2025
