Briefings, research, charts and analysis on the institutions, capital flows and systemic risks shaping long-horizon portfolios.
South Korea's NPS crossed $997 billion in 2025 and is systematically shifting toward global equities and private markets. Here is how this third-largest pension fund in the world invests.
OMERS manages retirement savings for Ontario's municipal sector workers. Here is how it invests, what drove its 6% return in 2025, and how it differs from other Canadian pension giants.
Ontario Teachers' Pension Plan pioneered direct private market investing. Here is how the fund is structured, what changed in 2025, and why it remains a benchmark for pension fund management.
How CDPQ manages Quebec's collective savings, where it invests globally, and why it has become a blueprint for large-scale direct infrastructure and private markets investing.
Agent-based stress test of 'Stock-bond correlation regime break — the 60/40 / LDI hedge fails' — 5 blind-spot probes for the desk. 0pp, calibration-gated.
Radar load 7.9/100 · Chokepoint concentration rises to 53% · Transition-mineral bottleneck at 43% · What changed and what it means for long-duration capital.
The average large public pension fund now allocates 11–15% of assets to private markets. Understanding how pension funds access, structure and manage these allocations reveals the mechanics behind one of the most important capital flows in institutional investing.