AI
Data Center Power Demand and the Grid, for Asset Owners
AI is reshaping electricity demand. A guide to the data-centre power surge, the grid bottlenecks it creates, and the investment exposures that follow for institutions.
Universal Asset Owners
Briefings, research, charts and analysis on the institutions, capital flows and systemic risks shaping long-horizon portfolios.
AI
The Stargate AI Infrastructure Project, Explained
Inside Stargate: the $500bn AI data-centre build-out backed by OpenAI, Oracle, SoftBank and Abu Dhabi's MGX, and what it signals for institutional capital.
Private Markets
Continuation Vehicles in Private Equity, Explained
How continuation vehicles work, why they have become a mainstream private-equity exit route, and what asset owners should weigh before rolling or cashing out.
The Simulation Desk
Simulation Desk: Reserve fragmentation — erosion of the dollar's exorbitant privilege
Agent-based stress test of 'Reserve fragmentation — erosion of the dollar's exorbitant privilege' — 5 blind-spot probes for the desk. 0pp, calibration-gated.
Sovereign Wealth Funds
ADQ: Abu Dhabi's Third Sovereign Investor, Explained
The youngest and most domestically focused of Abu Dhabi's three sovereign investors — how ADQ was built, what it owns, and how the 2026 LIMAD restructuring changes it.
Institutional Investing
Factor Investing, Explained
The rules-based middle ground between passive indexing and active stock-picking, and why the world's largest allocators think in factors rather than asset classes.
Pension Funds
Pension Funded Status, Explained
How to read the single number that tells you whether a pension can pay what it owes — and why the same plan can show several funded ratios at once.
Pension Funds
The Discount Rate and Pension Liabilities, Explained
Why a single assumption — the discount rate — can swing a pension plan's reported liabilities by hundreds of billions, and how the post-2022 rate regime reshaped funded status.