Yes. The expected mega-IPOs from SpaceX, OpenAI, and Anthropic will mark an important shift from private capital dominance toward broader public ownership, with implications for index composition, valuation, liquidity, and investor access to frontier technologies.
This report reviews the various spending rule types used among our endowment clients in fiscal year 2025, and also includes analyses on the endowment’s support of operations and effective spending rate.
Global equities sold off late last week amid rising bond yields and inflation concerns tied to the ongoing closure of the Strait of Hormuz.
Kevin Warsh became chair of the Federal Reserve on May 15. His appointment is unlikely to drive a major near-term policy shift.
Large losses in last weekend’s local elections have increased pressure on Labour Party leader and Prime Minister Keir Starmer. Frustration was already building within the Labour Party over the lack of visible progress on key priorities, compounded by weak approval ratings.
No. Artificial intelligence has changed the shape of market concentration more than its substance.
Our biannual report summarizes asset allocation and total investment performance for 20 of Cambridge Associates’ UK foundation and endowment clients.
Global equities rebounded in April, more than offsetting March’s sell-off despite a renewed oil shock.
No. The Iran War does not alter our conviction that the broad equity rally that began in 2025 will continue.
Direct lending has attracted significant institutional capital over the past decade, but that environment is now changing. In a more challenging landscape, we expect performance dispersion to emerge more clearly between managers, reinforcing the importance of manager selection and taking a diversified approach across strategies, geographies, and borrower segments.