Family Offices
Hong Kong's Family Office Moment
What the new rules mean for Asia's private-capital race - and how families, fund managers and policymakers should read a moment that is easier to announce than to bank.
Topic
Private Markets
Coverage, charts, video and research on Private Markets for universal owners.
Latest in Private Markets
Private Markets
Public Equity vs Private Equity Returns: The Long-Run Evidence
Decades of institutional data challenge the private equity return premium. Cambridge Associates' 2023 study shows public equity delivered superior net-of-fees returns to investors since 1995.
Private Markets
Sovereign Funds and Emerging-Market Local-Currency Debt
Sovereign wealth funds are expanding allocations to emerging-market local-currency debt as a source of yield and currency hedging. We examine the institutional approach, key risks, and how major allocators structure these positions.
Private Markets
Institutional Investors and European Defense Rearmament
European pension funds and sovereign wealth funds are repositioning capital toward defense contractors and private markets as NATO members commit to sustained rearmament. We examine the allocation drivers, governance considerations, and risk framework for long-term institutional allocators.
Digital Assets
Tokenization of Real-World Assets: What Institutional Investors Need to Know
What tokenization of real-world assets means for large asset owners, where the market stands in 2026, and the practical case for and against.
Private Markets
Infrastructure Investment Returns: Benchmarks and Evidence
Institutional investors increasingly allocate to infrastructure for yield and diversification. Return benchmarks vary by asset class, geography, and vintage year, with established performance indices guiding allocation decisions.
Private Markets
Core, Core-Plus, Value-Add, and Opportunistic Real Estate, Explained
Real estate risk-return hierarchy ranges from stabilized core holdings to opportunistic development plays. Core-plus occupies the pragmatic middle ground for institutions seeking yield with controlled upside exposure.
Private Markets
Private Equity Returns Over 10 Years: What the Data Shows
Ten-year private equity returns have delivered competitive performance for institutional investors, though vintage-year selection and fee drag remain critical variables. Current market conditions are reshaping return assumptions.
Private Markets
Impact Investing in Private Markets: A Guide for Institutions
Institutional investors increasingly structure private market allocations to deliver dual-mandate returns. This guide examines how asset owners implement impact strategies across private equity, infrastructure, and real assets.
Private Markets
AIFMD Explained: What Institutional Investors Need to Know
The Alternative Investment Fund Managers Directive (AIFMD) is the primary EU regulatory framework establishing authorization, operational, and transparency standards for managers of alternative investment funds. Compliance is mandatory for most institutional fund managers across the European Economi
Private Markets
DPI, RVPI, and TVPI: Private Equity Return Multiples Explained
Private equity performance relies on three standardized multiples: DPI measures cash returned to investors, RVPI captures unrealized portfolio value, and TVPI shows total value creation. Institutional investors use these metrics to benchmark fund performance and assess capital efficiency.
Private Markets
PME (Public Market Equivalent) Benchmarking for Private Equity
Public Market Equivalent benchmarking allows institutional investors to assess whether private equity returns justify the illiquidity premium by comparing performance directly against public equity indices using standardized methodologies.
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