Our Insights

We have a point of view. One that is borne of weeks and months, sometimes years, of investigation, due diligence, and testing. Here you will find everything from market commentaries and benchmarking data to perspectives on diversification and portfolio construction. We apply a healthy skepticism to new ideas while challenging the old standbys. We aim to incite dialogue, test assumptions, and provide a rationale for our recommendations. Watch us. Understand our perspective. Perhaps you will agree, perhaps not. Either way, we hope you will gain some insights.

VantagePoint: Third Quarter 2017

This quarter’s edition covers the very overvalued US equity market, reviewing what late cycle looks like in the US and casting a critical eye at the consensus view of an overly concentrated market. Also discussed are the better prospects for ex US markets and the importance of remaining diversified.

Is Deregulation the Death Knell of Direct Lending? Reviewing the Evidence

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.

Can College and University Endowments Do More?

Recent policy proposals assume endowments can do more to reduce the reliance on student revenue, and thus the cost of a college education. These proposals aim to shift more endowment wealth to current student beneficiaries. Our analysis shows that while well intentioned, these proposals will affect endowment and organizational stability and intergenerational equity. While endowments may be able to do more to support the enterprise and thus lower the cost of attendance, considering the implications of current policy proposals is critical, as is examining other strategies that could address current pricing concerns.

Considerations for ESG Policy Development

Though the US government is no longer supporting the Paris Climate Agreement, many endowments, foundations, and other US institutions remain committed to aligning their investment policies with the goals of the international accord. Together with the Intentional Endowments Network, Cambridge Associates has outlined considerations for incorporating environmental, social, and governance factors into the development of […]

Over the Long Term, Diversification Still Wins

Since 2009, US equities have outperformed every major asset class by a considerable margin, returning 14.5% a year on average. And, over the same period, a simple 70% US equity/30% bond portfolio* returned 11.4% per year, on average. These kinds of results can tempt even the savviest investors into abandoning their long-term discipline and chasing […]

CA Answers: Playing the Long Game—Should the US Treasury Issue Ultra-Long Bonds?

Answers to our clients’ questions about market action and the market environment in a few paragraphs every two weeks. Yes. Issuance of ultra-long Treasury bonds (greater than 30 years to maturity, including potentially 40-, 50-, and 100-year maturities) would benefit multiple constituents. Ultra-long Treasuries would extend the investable Treasury curve for pension plans and life […]

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Preliminary Index Returns 2017 Q1

Access our preliminary returns for U.S. Venture Capital, U.S. Private Equity, Global ex U.S. Developed Markets and Emerging Markets Private Equity & Venture Capital, Global Buyout, Growth Equity, and Real Estate benchmarks.

Clean Tech Company Performance Statistics 2016 Q4

Our Clean Tech Company Performance Statistics report evaluates the gross company-level performance of approximately 1,400 investments in more than 800 clean tech companies. These are updated on a quarterly basis, so we invite you to sign up to receive them in your inbox. 2016 Q4 Clean Tech Index Fact Sheet

Real Estate 2016 Q4

Our Real Estate index and benchmark statistics are based on data compiled from more than 900 institutional-quality real estate funds formed between 1986 and 2016. This report gives you access to extensive data, including fund index analysis and fund since inception analysis. These are updated on a quarterly basis, so we invite you to sign […]

Australia Private Equity and Venture Capital Benchmark Statistics 2016 Q4

Our Australia index and benchmark statistics are based on data compiled from 67 private equity and 25 venture capital funds investing in Australia and New Zealand, including fully liquidated partnerships, formed between 1997 and 2016. This report gives you access to extensive data, including fund index analysis and fund since inception analysis. These are updated […]

Buyout and Growth Equity 2016 Q4

Our Buyout & Growth Equity index and benchmark statistics are based on data compiled from more than 2,000 institutional-quality global buyout and growth equity funds formed between 1986 and 2016. This report gives you access to extensive data, including fund index analysis and fund since inception analysis. These are updated on a quarterly basis, so […]

Ex U.S. Developed Markets and Emerging Markets Private Equity and Venture Capital 2016 Q4

Our Ex U.S. Developed Markets and Emerging Markets Private Equity & Venture Capital index and benchmark statistics are based on data compiled from more than 1,400 institutional-quality private equity and venture capital funds formed between 1986 and 2016. This report gives you access to extensive data, including fund index analysis and fund since inception analysis. […]

U.S. Private Equity 2016 Q4

Our U.S. Private Equity index and benchmark statistics are based on data compiled from more than 1,300 institutional-quality buyout, growth equity, private equity energy, and mezzanine funds formed between 1986 and 2016. This report gives you access to extensive data, including fund index analysis and fund since inception analysis. These are updated on a quarterly […]

U.S. Venture Capital 2016 Q4

Our U.S. Venture Capital index and benchmark statistics are based on data compiled from over 1,700 institutional-quality venture capital funds formed between 1981 and 2016. This report gives you access to extensive data, including fund index analysis and fund since inception analysis. These are updated on a quarterly basis, so we invite you to sign […]

Private Equity and Venture Capital Impact Investing Benchmark Statistics 2016 Q4

Cambridge Associates and the Global Impact Investing Network have collaborated to create the Private Equity and Venture Capital Impact Investing Benchmark. These benchmark statistics are based on data compiled from 66 funds, including fully liquidated partnerships, formed between 1998 and 2014 and invested with the intent to create positive social impacts. This report gives you […]

Preliminary Index Returns 2016 4Q

Access our preliminary returns for U.S. Venture Capital, U.S. Private Equity, Global ex U.S. Developed Markets and Emerging Markets Private Equity & Venture Capital, Global Buyout, Growth Equity, and Real Estate benchmarks.