Insights

Does the Iran War Change Our View on the US Dollar?

No, we continue to believe the US dollar faces meaningful downside risks over the next few years and recommend that investors remain underweight the dollar in portfolios. While the US dollar could appreciate further in the near term if the conflict in Iran intensifies and oil prices continue to rise, the situation in the Middle […]

March 2026

Will the Iran Conflict Trigger a Pandemic-Style Inflation Spike?

No, we do not think this is the likely outcome. While the path forward is highly uncertain, several key factors—including the typically limited pass-through of energy price increases to broader inflation, the possibility that the conflict remains short-lived, and the unique circumstances behind the 2021–22 inflation surge—suggest that a repeat of pandemic-era inflation is unlikely. […]

March 2026

The Biggest Mistake Investors Make When Building a Venture Capital Portfolio

In this episode of “How I Invest,” host David Weisburd sits down with Michael Larsen, Partner at Cambridge Associates, to discuss the nuanced challenges and opportunities in venture capital portfolio construction. Drawing on decades of experience advising leading institutions and family offices, Michael explores why venture portfolios behave differently from other asset classes and highlights […]

March 2026

Should Credit Investors Be Concerned About Rising AI-Related Debt Issuance?

Yes. Credit investors should be concerned about rising artificial intelligence (AI)-related debt issuance for several reasons. Credit spreads are near historic lows and are likely to face pressure from surging bond supply, of which AI-related investment is just one driver. Fundamentals look healthy for most so-called “hyperscalers,” but other companies may see a concerning rise […]

March 2026

A Look Inside Our Co-Investment Playbook: Top 3 Takeaways

The co-investment landscape has transformed significantly over the past decade. Once the domain of only the largest LPs, co-investment opportunities are now more widely available and have become a common feature in private markets portfolios. At Cambridge Associates, we’ve witnessed this evolution firsthand. We’re excited to share a few key insights from our own playbook […]

March 2026

Net Zero Investment Consultants Initiative Progress Report 2025

Cambridge Associates is proud to share our third annual progress report as a founding signatory of the Net Zero Investment Consultants Initiative (NZICI). This report highlights our continued journey toward integrating climate considerations into investment processes, manager selection, and our own operations. As a global investment firm managing $616 billion in assets for over 1,000 […]

February 2026

From Founder to Investor: Helping Founders Turn Business Success into a Lasting Legacy

We sat down with Mary Jo Palermo, Partner in the Private Client Practice at Cambridge Associates, to discuss the unique journey of founders as they transition from building businesses to building enduring legacies. Over a 35 year career investing alongside founders—both within global institutional frameworks and in private wealth and family office settings—Mary Jo has […]

February 2026

Has Private Equity Hit Peak Software?

No, we expect software investing to continue to loom large in private equity as it expands to incorporate the opportunities presented by artificial intelligence (AI) while managers also work rapidly to protect existing investments, which are most at risk. Not long after the Federal Reserve began increasing interest rates in March 2022, ChatGPT was publicly […]

February 2026