Capital Flows to Cryptoassets Increase, Despite Volatility

Digital assets saw considerable inflows in recent years as investors searched for alternative sources of return amid excessive equity and bond valuations. We expect this momentum will continue next year as regulators increasingly approve easy-to-access cryptocurrency exchange-traded funds (ETFs). Still, global regulatory challenges persist, and cryptoassets will remain highly volatile until there is more clarity on future regulation.

December 2021

Venture Capital Will Continue to Crush It

Globally, the venture capital (VC) industry will continue to evolve as capital floods in seeking compelling returns that can be had for those willing to wait.

December 2021

The Investment Portfolio’s Swiss Army Knife: Adding Private Credit to Portfolios for US Investors

We view private credit as an underused and effective tool that can help a broad array of investors meet their objectives.

November 2021

Overestimating Liquidity Needs Can Undercut the Return Potential of US Pension Plans

Many defined benefit plans sponsors may be denying themselves valuable opportunities to generate additional returns by overestimating their liquidity needs. Targeting a liquidity supply/demand ratio of 2x–3x can help portfolios tolerate periods of market stress.

November 2021

Crypto Considerations

The polarizing and often misunderstood cryptoasset landscape has grown exponentially in recent years. This paper reviews some of the space’s pressing issues, considers cryptoassets in a portfolio setting, and offers some considerations of different implementation options.

October 2021

Are Secondaries Experiencing a Growth Spurt?

Yes. Secondaries, the “yang” to the “yin” of primaries and an investment strategy nearly as old, are growing, particularly GP-led secondaries.

September 2021

Building Winning Portfolios Through Private Investments

Building a portfolio that incorporates both private equity and venture capital investments is not straightforward. It requires skill and discipline. In this paper, we review recent private investment performance, discuss how these investments have benefited institutional portfolios, and provide some high-level tips on how to build winning portfolios.

August 2021

Global ex US PE/VC Benchmark Commentary: Calendar Year 2020

In 2020, the Cambridge Associates LLC Developed Markets (ex US) Private Equity and Venture Capital (PE/VC) Index® returned 33.1% in USD terms. The index suffered in first quarter during the onset of the COVID-19 pandemic but recovered quickly and ended the year with the fourth-highest quarterly return since the inception of the benchmark. Because the […]

July 2021