2026 Outlook: Private Equity & Venture Capital Views
Thoughtful portfolio construction across private markets will be key to capturing diversification and return opportunities in a morphing environment in 2026.
Research Publications Archive
2026 Outlook: Diversifier Views
In 2026, a disciplined, diversified approach across hedge funds, real assets, and California Carbon Allowances can help investors navigate market uncertainty and capture emerging growth.
Unlocking Innovation with Blockchain and Crypto Venture Capital Funds
Blockchain and crypto-focused venture capital (BCVC) funds offer a compelling opportunity alongside traditional venture capital (VC) strategies. In this piece, we explore the market dynamics shaping cryptoassets, share our rationale for including BCVC in VC portfolios, and outline key considerations for integration into institutional portfolios.
Do the Recent Bankruptcies of First Brands and Tricolor Suggest Trouble Ahead in Private Credit?
No, the recent bankruptcies of First Brands Group and Tricolor do not signal systemic problems in private credit.
A US-China Trade Deal Would Show Desire for Gradual Strategic De-risking, Not Abrupt Decoupling
Global markets rallied on October 26 following news that the United States and China have reached a “preliminary consensus” on several key issues. Although a formal agreement has not yet been announced, both sides are clearly working to de-escalate trade tensions that intensified in early October.
Long Bond Performance Does Not Signify an Impending Debt Crisis
Long-dated government bonds have come under pressure in recent months, but markets are not beginning to price in a fiscal crisis in our view. Drawing on market data and institutional trends, we believe they will continue to behave defensively during deflationary shocks.
Higher Endowment Spending Needed for Some in Challenging Environment
A recent Cambridge Associates survey of 104 endowments and foundations reveals that most institutions are adhering to their endowment spending policies, with 80% following policy in 2025 and 81% expected to do so in 2026.
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 24 of Cambridge Associates’ UK foundation and endowment clients.
Building Resilient Portfolios: Liquid Diversifiers for Today’s Institutional Challenges
Liquid diversifiers represent a modern approach to portfolio construction, offering the potential for uncorrelated returns, improved liquidity, and enhanced risk management.
2024 Hedge Fund Discretionary Expense Summary
This report provides a comparative overview of management fees and discretionary expenses across five hedge fund strategies in Cambridge Associates’ manager universe—long/short equity, credit opportunities, multi-strategy, global macro, and fund of hedge funds—for the years 2022 through 2024.