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.
No, we do not think so. While the European Central Bank and Bank of England have adopted a more hawkish tone in response to the Iran-driven energy shock, we believe markets are overpricing the amount of tightening that will ultimately be delivered.
AI’s growing role in investment management has made strong AI governance, policies, and security controls a key focus of operational due diligence in assessing whether managers adequately protect proprietary and confidential information.
No, we continue to believe the US dollar faces meaningful downside risks over the next few years and recommend that investors remain underweight the dollar in portfolios.
The war in Iran has triggered a historic disruption in the Strait of Hormuz, driving oil & gas prices higher and exposing vulnerable energy-importing regions. This shock is fueling concerns over higher inflation and rising bond yields, creating a volatile environment where commodities lead while global equities and traditional bond diversifiers underperform.
No, we do not think this is the likely outcome. While the path forward is highly uncertain, several key factors suggest that a repeat of pandemic-era inflation is unlikely.
Yes. Credit investors should be concerned about rising artificial intelligence (AI)-related debt issuance for several reasons.
Yes. The range of possible outcomes for the US economy has widened, with greater chances of both positive and negative tail events.
Yes, we expect economic data to remain the primary driver of Federal Reserve policy decisions.
The US military operation to capture Venezuelan President Nicolás Maduro highlights the growing assertiveness of the Trump administration and further strengthens the case for investors to embrace diversification.