Markets: Inflation, Oil, and Slowdown
Week of March 30 to April 3 Inflation, energy dynamics, and mixed growth signals shaped global markets. Markets reflect a complex environment, with inflationary pressures, geopolitical-driven volatility, and mixed growth signals. The U.S. remains resilient, while Europe faces higher costs and emerging markets show signs of slowdown. United States A quieter week, but with mixed […]
Volatility: Navigating Uncertain Markets
Discipline and perspective in times of uncertainty Periods of volatility are a natural part of markets. While they create uncertainty, they also highlight the importance of maintaining discipline. In these environments, it is essential to recognize our reactions, put events into perspective, and stay focused on long-term objectives. History shows that despite recurring crises, markets […]
Global Outlook: Inflation, Rates, and Conflict
Week of March 23–27 Markets faced a week marked by geopolitical tensions and inflationary pressures. While the U.S. shows labor market resilience, Europe and Japan present mixed signals, and emerging markets like Mexico face challenges in growth and inflation. United States Negotiations with Iran remain stalled despite a temporary truce. Manufacturing PMI hits an 11-month […]
Holistic Due Diligence Is a Must
Due diligence isn’t just about validating performance metrics or checking boxes on operational risk. In alternatives—where relationships are long-term, structures are complex, and outcomes are path-dependent—successful DD must be holistic. It needs to reflect the full scope of what you’re signing up for: financial, operational, reputational, philosophical, and relational. In our experience—both at a pension […]
Markets focused on inflation and geopolitical risks
Week of March 16–20 Financial markets remained volatile amid ongoing inflationary pressures and geopolitical risks. Monetary policy decisions and economic data continue to shape expectations for global growth. United States The Fed kept rates unchanged at 3.5%–3.75% amid persistent inflation and rising energy prices. It also eased bank capital rules, while the PPI surprised to […]
Fed Holds Rates Amid Uncertain Outlook
The Federal Reserve decided to keep its benchmark interest rate unchanged within a range of 3.5%–3.75%, amid persistent inflation, mixed signals from the labor market, and rising geopolitical tensions. While projections point to solid economic growth and a gradual moderation in inflation, higher oil prices and uncertainty related to the conflict in the Middle East […]
Software and Liquidity in Private Credit
PIK exposure remains stable at 6.6%, reflecting the structural flexibility characteristic of private credit. The portfolio maintains a meaningful allocation to software, historically the sector with the lowest default rates due to high margins, low capex, and recurring revenue. PIK and structural flexibility Liquid (traded) loans should not have PIKs. PE sponsors seek capital flexibility […]
Energy-driven volatility and mixed inflation signals shape global markets this week.
Week of March 9–13 Markets are navigating geopolitical tensions, energy pressures, and diverging economic signals. While inflation is moderating in some economies, growth prospects and monetary policy remain influenced by ongoing global uncertainty. United StatesVolatility increased amid Middle East tensions and rising oil prices. Inflation held at 2.4%, while the trade deficit narrowed following record […]
Start Simple: A Core-First Approach to Alternative Investing
The alternative investments world is growing fast, but so is the confusion around how to approach it. I’ve seen investors jump into alts with ambitious, exotic bets—venture funds, crypto hedge funds, distressed debt specials—before building a core foundation. That’s rarely a good idea. Just like you don’t start fixed income investing with high-yield EM debt, […]
Weekly Economic Outlook: Risks and Resilience
Week of March 2–6 The week delivered a diverse economic outlook: weaker employment and consumer data in the U.S., signs of industrial recovery in Europe and Asia, and structural adjustments alongside moderate growth prospects in Latin America. United States Nonfarm payrolls fell by 92,000 in February and the unemployment rate rose to 4.4%, largely due […]
