Coverage, charts, video and research on Institutional Investing for universal owners.
Semi-liquid evergreen funds balance illiquidity premiums with investor optionality through scheduled redemption windows and auto-renewing capital commitments. This hybrid structure has gained adoption among pension funds and endowments seeking extended holding periods without full lockup constraints
Net Asset Value represents the per-share fair value of private fund holdings, essential for institutional valuation, reporting, and capital allocation decisions. NAV calculation methodology varies by fund structure and asset class.
Infrastructure equity and debt represent distinct risk-return profiles within institutional infrastructure investment. Equity captures growth upside through asset ownership; debt provides contractual income with priority claims.
Secondaries continuation funds allow asset managers to extend portfolio company hold periods beyond original fund maturity dates. They have become a standard mechanism for managing extended exit timelines in illiquid asset classes.
Separately managed accounts provide institutional investors with customized, individually managed portfolios that offer transparency, tax efficiency, and direct security ownership—distinguishing them from commingled fund structures.
GP stake investing grants institutional capital direct equity participation in private equity general partners' fund economics. This structure aligns LP and GP interests while providing GPs dedicated capital independent of fund-raising cycles.
Co-investment grants institutional capital partners direct equity stakes in portfolio companies alongside private equity sponsors. This structure reduces fee drag and provides transparency into underlying business performance.
The total portfolio approach represents a shift from siloed asset-class management toward integrated portfolio construction. Large institutional investors use this framework to align capital allocation across equities, bonds, alternatives, and real assets against unified risk budgets and liability t
The Yale Endowment Model, pioneered by Chief Investment Officer David Swensen, represents a departure from traditional 60/40 stock-bond allocations. It prioritizes alternative assets and illiquid investments to capture illiquidity premiums and deliver inflation-adjusted returns over multi-decade hor
Fiduciary duty is the legal obligation asset owners bear to manage capital solely for beneficiary benefit, prioritizing prudence and transparency over self-interest. This duty shapes governance, risk management, and investment decision-making across pension funds, endowments, and sovereign wealth ve
Liability-driven investing aligns portfolio assets with an institution's future payment obligations. Pension funds, insurers, and endowments use LDI to reduce surplus volatility and funding risk.
Stewardship encompasses the active management of ownership stakes through voting, engagement, and dialogue. Major institutional investors use stewardship to align portfolio company behavior with fiduciary duties and long-term value creation.
Research, charts, video and podcast analysis for the institutions investing at the scale of the world.
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