Direct investments are often the first point of entry into private investments (PI) for wealthy families. In building out their direct portfolios, many families invest exclusively in a particular region, industry, or business sector. Similarly, entrepreneurial families with highly cash-generative operating businesses—or those who have recently sold a business—may have portfolios that are narrower in […]
July 2024
For private investors, the diversification offered by private funds—across sectors, geographies, and investment stages—can be a powerful tool for enhancing investment performance. Elisabeth Lind, Managing Director in the Private Client Practice, discusses how a carefully constructed funds portfolio can complement an existing direct investments strategy while significantly expanding the opportunity set.
July 2024
The Labour Party secured a sweeping victory in the UK general election, returning them to power for the first time since 2010. Although Labour’s share of the vote increased only slightly since 2019 to 34%, the Conservative’s loss of votes to Reform allowed Labour to win 412 of the country’s 650-seat parliament. Even so, we […]
July 2024
Yes. We believe co-investments are an attractive opportunity in the current market for three primary reasons. First, the challenging fundraising environment has increased the incentive for general partners (GPs) to offer co-investments. Second, in a slow-paced environment, the ability to control capital deployment is increasingly valuable for limited partners (LPs). Third, a co-investment offered today […]
June 2024
Yes, we believe it will. Excitement around artificial intelligence (AI) and its related technological advancements has been a key market driver since early 2023. Investors are rightly enthusiastic about the potential for AI to support labor productivity and growth. We share this enthusiasm, while acknowledging the uncertainty in quantifying these benefits. Despite AI’s long-run promise, […]
June 2024
On June 6, the European Central Bank (ECB) cut its main interest rates by 0.25%, becoming the first major developed markets (DM) central bank to cut rates. This follows recent decisions by central banks in Canada, Sweden, and Switzerland to reduce their policy rates, and it marks a change in the interest rate cycle that […]
June 2024
Many families who have succeeded in building wealth or experienced a major liquidity event find themselves in uncharted territory. This includes families who are thinking through how to separate the management of their finances and investments from those of their company, as well as those who have recently sold a business. In some cases, a […]
June 2024
No. The Japanese yen has been on a weakening trend for several years. For most of that time, it has been a lynchpin of Japanese equity outperformance in local currency terms. We believe there is limited further downside for the yen, which, while removing a headwind for USD returns, also removes the main pillar of […]
May 2024