Would US Private Capital Flows into Climate Solutions Remain Strong in a Second Trump Administration?

Yes, we believe that private investment in climate solutions would continue apace in a second Trump administration, given strong demand for clean energy, supportive and resilient US government policies, and robust investment opportunities that will continue to be attractive to many investors. Long-term capital flows into climate solutions reflect market-driven structural tailwinds. The drivers of […]

September 2024

US PE/VC Benchmark Commentary: Calendar Year 2023

In 2023, US private equity (PE) performed better than venture capital (VC), but returns for both asset classes trailed those of the public markets, which rebounded strongly from a tough 2022. For calendar year 2023, the Cambridge Associates LLC US Private Equity Index® returned 9.3% and the Cambridge Associates LLC US Venture Capital Index® returned […]

August 2024

Are Co-investments Attractive in Today’s Environment?

Yes. We believe co-investments are an attractive opportunity in the current market for three primary reasons. First, the challenging fundraising environment has increased the incentive for general partners (GPs) to offer co-investments. Second, in a slow-paced environment, the ability to control capital deployment is increasingly valuable for limited partners (LPs). Third, a co-investment offered today […]

June 2024

Private Credit Strategies: An Introduction

Private credit offers distinct advantages and appeal in a low return environment, but investors should be aware that behind the name is a diverse array of strategies, some more familiar to institutional investors than others, each with idiosyncratic risks. In this report, we describe the broad array of private credit strategies and position them along the risk/return spectrum, review the investment process, discuss expectations for the performance of these strategies in various parts of the economic cycle, and highlight some key risks for investors to consider.

May 2024

Video Series: Private Credit Investing

The private credit landscape has grown steadily over the past 15 years, cementing its importance and value in investor portfolios. In this video series, we explore what makes private credit investments so attractive and answer a number of key questions – including where to find opportunities, how to incorporate private credit in portfolio construction, and […]

April 2024

Have Public Market Returns Permanently Eclipsed Private Market Returns?

No, while the public market’s outperformance may seem like a total eclipse, this one, like all eclipses, will be temporary. At present, short-term private equity returns do not compare favorably to those of public benchmarks. For the nine months ended September 30, 2023, global private equity and global venture capital underperformed the MSCI ACWI on […]

April 2024

Role Models: Pensions Can Use Data to Optimize PI Allocations

Tapping private markets in search of added returns is common practice among defined benefit pensions and other institutional investors. However, many pensions still avoid private investments (PI) out of fear that long-term capital lockups could elevate liquidity risk. Some also remain alarmed by the potential consequences of the “denominator effect.” This refers to situations in […]

April 2024

Video Series: Co-investing

Co-investments allow investors to make opportunistic investments that can enhance and complement their total portfolio. In this video series, our co-investment team discusses the opportunity set, the role of co-investments in a portfolio, guidelines for implementation, and what we believe are keys to success. Explore our collection of videos below or learn more here.   […]

March 2024