We cover the following topics in this issue:

• In our feature article, “Alpha Isn’t Optional—But Is It Always Possible?,” Celia Dallas and Max Senter discuss why investors should continue to focus on alpha generation as a key driver of long-term performance even during a beta-driven market environment.

• In “Taking the Wheel: What’s Driving the Co-Investing Trend?,” Andrea Auerbach discusses the co-investment trend and which investors can benefit from the approach.

• In “Educating Your Successors,” Katie Delaney and Laura Tuttle advise private clients on how to talk to successors about family wealth—and why the discussion matters.

• In “Cambridge Conversations,” Steve Nelson discusses what’s new and what’s on the horizon for CA’s Portfolio Services team.

• In “Making the Grade,” we profile Nevada System of Higher Education, highlighting the unique challenges and opportunities that face the state’s only public higher education system.