Investors seeking to gain initial exposure to private investments should actively consider secondaries, rather than funds-of-funds, as the very first step to constructing a long-term private equity portfolio.
August 2017
If passing the Dodd-Frank Wall Street Reform Act in July 2010 did not spawn direct lending, what did? In this analysis we explore the genesis of the recent direct lending phenomenon to identify risks to the strategy and what investors should watch going forward.
June 2017
Some market participants have feared the worst for direct lending from a potential repeal of The Dodd-Frank Wall Street Reform and Consumer Protection Act. In this brief, we review the data and show that changes in banks’ lending behavior cannot clearly be traced to the passage of Dodd-Frank or its implementation.
June 2017
Answers to our clients’ questions about market action and the market environment in a few paragraphs every two weeks. No. Market forces and technological innovation have been far more impactful on the energy sector than environmental regulations. Investors should maintain exposure to private energy and publicly listed energy equities, rather than view this event as […]
June 2017
New private infrastructure fund investors can find value in carefully evaluated managers and strategies, but they should ratchet down return expectations relative to years past.
June 2017
This paper introduces Cambridge Associates’ Investment-Level Benchmarks and shares examples of the types of perspectives they can offer subscribers.
February 2017
Answers to our clients’ questions about market action and the market environment in a few paragraphs every two weeks. In a word, yes, albeit slowly and selectively. Since the US presidential election, the market appears to be pricing in renewed expectations of growth and inflation, both of which have the potential to positively impact real […]
February 2017
Answers to our clients’ questions about market action and the market environment in a few paragraphs every two weeks. No. You just need to know where to look. Given the low return environment, many investors are exploring private equity investing for the first time, attracted by data points such as the 10.7% ten-year return for […]
January 2017