Covenant-Lite to Covenant-Void? Navigating Private Credit Risk

Private credit has exploded into a $1+ trillion asset class and become a mainstream fixture in institutional portfolios. After years of growth fueled by easy credit and low interest rates, the market is now entering its first significant ...
14 min read

The Liquidity Barter: How Hedge Fund Secondaries and GP Stakes Are Reshaping Capital Dynamics

Few corners of the alternative investment world illustrate today’s capital pressures as clearly as the surge in hedge fund secondaries (trading of LP fund interests) and GP-stakes transactions (selling ownership stakes in fund management ...
16 min read

From T+2 to T-Instant: Why Leading Alternatives Managers Are Putting Their Fund Units On-Chain

Institutional assets are going on-chain at scale. In 2025, the total value of real-world assets (RWAs) recorded on public blockchains is nearing the $20 billion mark. BlackRock’s Ethereum-native tokenized money market fund (ticker: BUIDL) ...
16 min read

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The 60/40 Illusion: Rethinking Portfolio Resilience in a Changed World

Few portfolios have defined institutional investing as deeply as the classic 60/40 mix—60% equities, 40% bonds. For decades, it delivered on its promise: solid long-term returns, diversification, and simplicity. It became the go-to ...
10 min read

NAV Lending: Liquidity Tool or Leverage Trap in Private Markets?

In a recent episode of our Private Credit Perspectives podcast mini-series, we explored an increasingly relevant—and often misunderstood—corner of the market, namely Net Asset Value (NAV) lending/financing: NAV Financing: Unlocking Value ...
9 min read

How Hedge Funds Are Really Using Generative AI — And Why It Matters for Manager Selection

The hype around generative AI (GenAI) in financial services is loud—but for hedge fund allocators and due diligence professionals, the signal is what matters. But for these professionals, it’s critical to understand not just whether a ...
12 min read

The Systematic Credit Gap: Why This Frontier Remains Underexplored

Systematic investing has profoundly reshaped equity and futures markets. From high-frequency trading to long-horizon factor investing, quant models have established themselves as foundational. Yet in corporate credit – a multi-trillion ...
6 min read

Beyond the Mean: Rethinking Diversification in the Regime Shift Era

The Limits of Traditional Diversification For decades, investment portfolios have leaned heavily on the 60/40 equity-bond model, grounded in the assumption that these asset classes offset each other. That model came under serious strain in ...
6 min read

The Comeback of Commodities: Why Investors Must Reconsider This Asset Class

Commodities are making a comeback. After a decade of being overlooked, shifting macroeconomic forces are bringing this asset class back into focus. Recent structural inflation, supply chain realignments, and energy transition policies have ...
6 min read

Unlocking the Power of Portable Alpha: A Capital Allocator’s Guide to Enhancing Returns

Institutional investors, pension funds, and endowments are constantly seeking ways to enhance returns while managing risk in an increasingly complex market environment. Traditional asset allocation models often struggle to keep up with ...
6 min read
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