Articles on private credit & private equity
Perspectives on private markets.
In-depth articles and analysis on alternative investment strategies, market trends and fund structures, by our partners.
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Mid-Life Co-Investments
How mid-life co-investments work, how they differ from GP-led secondaries and continuation funds, and why the market for them is growing.
Read articleThe Consumer Credit Market
Why private credit funds are moving into unsecured consumer lending, and the cyclical, underwriting, monitoring and servicing risks investors take on.
Read articleAmerican vs. European Waterfall: Which Distribution Structure Is Better for the Investor?
A comparison of American (deal-by-deal) and European (whole-fund) distribution waterfalls, the empirical research, and why a clawback matters.
Read articlePortfolio Finance
How portfolio finance – fund-level NAV lending, LP interest financing and GP financing – is reshaping liquidity management in private markets.
Read articleConverting a Private Fund into a Public Fund: Implications for Pricing and Liquidity
How Bluerock TI+ moved from an interval fund to an NYSE listing to meet redemption pressure, and what it means for pricing and liquidity.
Read articleFirst-Time Funds
Why first-time private equity funds have often outperformed, and how institutional LPs evaluate emerging managers before committing capital.
Read articleA Look at the Sharp Price Declines in Listed BDCs
Why listed BDCs sold off: falling base rates, tighter spreads, dividend cuts and growing doubts about credit quality in direct lending.
Read articleSearch Funds: Recent Trends and Opportunities for Investors
An analysis of the 2024 Stanford search fund study: the model's structure, recent market trends, returns, and its advantages and risks for investors.
Read articleRising Default and Delinquency Rates in the U.S. CMBS Market
Trepp, Fitch Ratings and CRE Daily data on rising U.S. CMBS delinquencies, led by the office and multifamily sectors, as of August 2025.
Read articleThe Margin Squeeze in Residential Real Estate: A Decade of Rising Operating Expenses in the Multifamily Sector
How a decade of operating expense inflation, led by insurance and property taxes, is eroding multifamily NOI, DSCR and refinancing capacity.
Read articleSemi-Liquid Funds – Between Accessibility and Structural Complexity: Trends, Advantages and Risks
How interval funds, tender-offer funds, non-traded BDCs and non-traded REITs work, and the fees, leverage and liquidity risks investors should weigh.
Read articleDoes Venture Capital in Israel Have a Future in Light of Recent Challenges?
A review of Israeli venture capital in H1 2025: funding by stage, follow-on investment, cyber vs. AI, mega-rounds, exits and investor mix.
Read articleGlobal Wealth at a Peak: Insights from the UBS 2025 Report and the Implications for Israel
Key findings of the UBS Global Wealth Report 2025 – regional growth, everyday millionaires, intergenerational wealth transfer – and what they mean for Israel.
Read articleRetail Investors Enter Alternative Investments: A Structural Shift and a Systemic Risk
How alternatives are opening to retail investors through evergreen funds, ELTIF 2.0 and the LTAF, and the investor-level and systemic risks this creates.
Read articleThe Popular Method for Benchmarking Closed-End Alternative Funds Against Public Indices Is, Well, Wrong
Why the public market equivalent (PME) method gives a misleading comparison between closed-end alternative funds and liquid public-market benchmarks.
Read articleAsset-Backed Credit
Why asset-based finance is growing as banks retreat, its key sectors – Non-QM mortgages, consumer credit, aviation and data infrastructure – and its risks.
Read articleData Centers in the Era of Cloud and Artificial Intelligence
Why cloud and AI demand make data centers an attractive investment theme – and the valuation, oversupply and demand risks investors should weigh.
Read articleBetween Financial Flexibility and a Warning Light: NAV Financing
How private equity funds use NAV loans to buy time, reinvest in portfolio companies and fund distributions, and what that means for LPs.
Read articleHow to Convert a Private Fund's Net IRR into the Total Return Terms of a Traded Product
A five-factor framework and calculator for converting a closed-end private fund's net IRR into the equivalent total return of a traded product.
Read articleAre Continuation Funds Living Up to Expectations?
What Evercore and HEC data on TVPI, DPI and net IRR reveal about continuation fund performance versus traditional private equity funds.
Read articleHow Employee Motivation Affects Share Price
J.P. Morgan's Human Capital Factor research links intrinsic employee motivation and corporate culture to long-term share-price outperformance.
Read articleAlternative Investments Review – Outlook for 2025
Why the US mid-market remains a central and attractive arena for private equity investment heading into 2025.
Read articleHow Are Family Offices Changing the Rules of the Game?
How family offices are shifting from passive wealth preservation to active global dealmaking, based on PwC's Global Family Office Deals Study 2024.
Read articleManagement Buyouts: Why They Matter and What Makes Them Unique
How a management buyout (MBO) works – financing structure, when it makes sense, the deal process step by step, and keys to success after closing.
Read articleU.S. Venture Capital in 2024: Between High Valuations and a Liquidity Shortage
Key takeaways from PitchBook's 2024 valuations report: fewer deals, elevated valuations, a stalled exit market and the outsized role of AI.
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