Governments & Insurance
We build customized portfolios focused on maximizing results for each valuable unit of risk and capital.
We bring deep experience to serving the unique investment needs of complex asset and liability-sensitive pools including insurance firms, government entities, and other complex trusts and investment portfolios. In doing so, we focus on maximizing results for each valuable unit of risk and capital. We think holistically, balancing the interaction of risk-hedging reserves and growth-oriented, surplus portfolios to optimal effect, and leveraging our firm’s full resources to the client’s best advantage.
Each client team is led by a senior investor and backed by expert investment professionals. Together, this team partners with each client to help refine strategic priorities and understand their trade-offs. This process helps us to ensure that every investment decision is informed by the portfolio’s unique requirements, and reflects what we believe will most effectively achieve its goals.
To deliver the best ideas, we have built a global firm with experienced investors focused on sourcing and evaluating opportunities worldwide — including a full range of alternative assets, such as private equity, private debt, hedge funds, and real assets. This breadth of experience and resources allows us to construct truly differentiated portfolios designed to help our clients reach their targets while reducing downside risk.
We also leverage our market presence and scale to negotiate favorable terms and fees with managers. To align ourselves with our clients’ interests, we do not offer proprietary, off-the-shelf investment products or accept payments to recommend managers’ products. We don’t have other business agendas that compete with our clients for our best ideas or for our focus on their best interests.
Services We Offer
Portfolio Management
In building and managing a total portfolio, we work on either a fully discretionary or non-discretionary basis. Under our discretionary (OCIO) model, we are responsible for portfolio strategy, implementation, day-to-day management, and operations. Under a non-discretionary arrangement, we are responsible for day-to-day oversight of the portfolio, providing directive recommendations on asset allocation, portfolio structure, and manager selection — all subject to approval by the client.
Asset Class Mandates
With investment expertise across asset classes, and specialized resources in alternative assets, we manage a portion of a portfolio, such as private equity, private credit, co-investments, hedge funds, real assets, or other asset classes. As with our total portfolio management services, portfolio management of asset class mandates is available on either a discretionary or a non-discretionary basis.
Staff Extension
We partner closely with organizations that have significant investment staff to complement and augment their in-house resources. In this capacity, we provide our expertise and manager relationships across asset classes, or in specific asset classes, and act as a sounding board for investment ideas.
We serve a diverse group of institutional portfolios with complex asset and liability pools
- Insurance firms
- Governments and sovereign wealth funds
- Pension plans
- Settlement, NDT, and other specialized trusts
Latest Research
Private Credit Strategies: An Introduction
Private credit offers distinct advantages and appeal in a low return environment, but investors should be aware that behind the name is a diverse array of strategies, some more familiar to institutional investors than others, each with idiosyncratic risks. In this report, we describe the broad array of private credit strategies and position them along the risk/return spectrum, review the investment process, discuss expectations for the performance of these strategies in various parts of the economic cycle, and highlight some key risks for investors to consider.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Do Recent Events Change the Outlook for Insurance-Linked Security Strategies?
The strong Atlantic hurricane season and Mexican earthquakes have resulted in a tragic loss of life and property. Insurance-linked securities (ILS), meanwhile, have suffered a less dramatic impact.
Read More »
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…
Read More »
Private Credit Strategies: An Introduction
Private credit offers distinct advantages and appeal in a low return environment, but investors should be aware that behind the name is a diverse array of strategies, some more familiar to institutional investors than others, each with idiosyncratic risks. In this report, we describe the broad array of private credit strategies and position them along the risk/return spectrum, review the investment process, discuss expectations for the performance of these strategies in various parts of the economic cycle, and highlight some key risks for investors to consider.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Do Recent Events Change the Outlook for Insurance-Linked Security Strategies?
The strong Atlantic hurricane season and Mexican earthquakes have resulted in a tragic loss of life and property. Insurance-linked securities (ILS), meanwhile, have suffered a less dramatic impact.
Read More »
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…
Read More »
Contact Us
We build customised portfolios focused on managing risks and maximising results.
At Cambridge Associates, our investment teams are investors specialised in helping our clients frame objectives, risk constraints, and regulatory frameworks, and develop investment strategies tailored to each of their circumstances.
We are expert at incorporating a diverse range of investment strategies — alternative, traditional, and active as appropriate — into our clients’ portfolios. In the area of private investing, for instance, our clients benefit from Cambridge Associates’ deep experience and relationships across a full range of opportunities, including private equity, private debt, and real assets. This breadth of experience and resources allows us to construct truly differentiated portfolios designed to help our clients reach their targets while reducing downside risk.
Our global footprint helps us to uncover areas of significant investment potential whilst our scale allows us to negotiate competitive terms for the benefit of our clients. We have built a network of established and promising new managers across all asset classes for one simple objective: to get access to the best investment managers for each client’s unique portfolio.
We strive to align ourselves with clients. We don’t generate fees from investment products or have financial relationships with managers for recommending their products.
Services We Offer
Portfolio Management
In building and managing a total portfolio, we work in either a fully discretionary or non-discretionary basis. Under our discretionary (OCIO) model, we are responsible for portfolio strategy, implementation, day-to-day management, and operations. Under a non-discretionary arrangement, we are responsible for day-to-day oversight of the portfolio, providing directive recommendations on asset allocation, portfolio structure, and manager selection — all subject to approval by the client.
Asset Class Mandates
With investment expertise across asset classes and specialised resources in alternative assets, we can manage a portion of a portfolio, such as private equity, private credit, co-investments, hedge funds, real assets, or other asset classes. As with our total portfolio management services, portfolio management of asset class mandates is available on either a discretionary or non-discretionary basis.
Staff Extension
We partner closely with organisations that have significant investment staff to complement and augment their in-house resources. In this capacity, we provide our expertise and manager relationships across asset classes, or in specific asset classes, and act as a sounding board for investment ideas.
Latest Research
CA Answers: Is Cash Still Trash?
Not in the United States. As short rates have increased and the yield curve has flattened, US T-bills offer more appeal than they have in some time (and short-dated Treasuries even more so). With nominal yields around 2%, real yields of T-bills are finally nearing positive territory, while two-year notes are firmly in the black.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited. The retailing industry is…
Read More »
CA Answers: Should Investors Reposition their Portfolios in Response to Recent Tariffs and the Rising Threat of Trade Wars?
Not necessarily. Although we believe the announced tariffs are a negative for the global economy, recent market moves have probably more than baked in the pain they will cause.
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Should US Equity Investors Fret About Rising Yields?
Not in the near term. The current environment of rising, but low, interest rates accompanied by strong earnings growth expectations is supportive for equities.
Read More »
Distressed Debt: A New Way to Categorize Managers
As the economic cycle progresses, the next recession draws inexorably closer, bringing with it the next downturn in the credit cycle. Recognizing this, institutional investors…
Read More »
CA Answers: Is Cash Still Trash?
Not in the United States. As short rates have increased and the yield curve has flattened, US T-bills offer more appeal than they have in some time (and short-dated Treasuries even more so). With nominal yields around 2%, real yields of T-bills are finally nearing positive territory, while two-year notes are firmly in the black.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited. The retailing industry is…
Read More »
CA Answers: Should Investors Reposition their Portfolios in Response to Recent Tariffs and the Rising Threat of Trade Wars?
Not necessarily. Although we believe the announced tariffs are a negative for the global economy, recent market moves have probably more than baked in the pain they will cause.
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Should US Equity Investors Fret About Rising Yields?
Not in the near term. The current environment of rising, but low, interest rates accompanied by strong earnings growth expectations is supportive for equities.
Read More »
Distressed Debt: A New Way to Categorize Managers
As the economic cycle progresses, the next recession draws inexorably closer, bringing with it the next downturn in the credit cycle. Recognizing this, institutional investors…
Read More »
Contact Us
We build customized portfolios focused on maximizing results for each valuable unit of risk and capital.
We bring deep experience to serving the unique investment needs of complex asset and liability-sensitive pools including insurance firms, government entities, and other complex trusts and investment portfolios. In doing so, we focus on maximizing results for each valuable unit of risk and capital. We think holistically, balancing the interaction of risk-hedging reserves and growth-oriented, surplus portfolios to optimal effect, and leveraging our firm’s full resources to the client’s best advantage.
Each client team is led by a senior investor and backed by expert investment professionals. Together, this team partners with each client to help refine strategic priorities and understand their trade-offs. This process helps us to ensure that every investment decision is informed by the portfolio’s unique requirements, and reflects what we believe will most effectively achieve its goals.
To deliver the best ideas, we have built a global firm with experienced investors focused on sourcing and evaluating opportunities worldwide — including a full range of alternative assets, such as private equity, private debt, hedge funds, and real assets. This breadth of experience and resources allows us to construct truly differentiated portfolios designed to help our clients reach their targets while reducing downside risk.
We also leverage our market presence and scale to negotiate favorable terms and fees with managers. To align ourselves with our clients’ interests, we do not offer proprietary, off-the-shelf investment products or accept payments to recommend managers’ products. We don’t have other business agendas that compete with our clients for our best ideas or for our focus on their best interests.
Services We Offer
Portfolio Management
In building and managing a total portfolio, we work on either a fully discretionary or non-discretionary basis. Under our discretionary (OCIO) model, we are responsible for portfolio strategy, implementation, day-to-day management, and operations. Under a non-discretionary arrangement, we are responsible for day-to-day oversight of the portfolio, providing directive recommendations on asset allocation, portfolio structure, and manager selection — all subject to approval by the client.
Asset Class Mandates
With investment expertise across asset classes, and specialized resources in alternative assets, we manage a portion of a portfolio, such as private equity, private credit, co-investments, hedge funds, real assets, or other asset classes. As with our total portfolio management services, portfolio management of asset class mandates is available on either a discretionary or a non-discretionary basis.
Staff Extension
We partner closely with organizations that have significant investment staff to complement and augment their in-house resources. In this capacity, we provide our expertise and manager relationships across asset classes, or in specific asset classes, and act as a sounding board for investment ideas.
We serve a diverse group of institutional portfolios with complex asset and liability pools
- Insurance firms
- Governments and sovereign wealth funds
- Pension plans
- Settlement, NDT, and other specialized trusts
Latest Research
CA Answers: Is Cash Still Trash?
Not in the United States. As short rates have increased and the yield curve has flattened, US T-bills offer more appeal than they have in some time (and short-dated Treasuries even more so). With nominal yields around 2%, real yields of T-bills are finally nearing positive territory, while two-year notes are firmly in the black.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited. The retailing industry is…
Read More »
CA Answers: Should Investors Reposition their Portfolios in Response to Recent Tariffs and the Rising Threat of Trade Wars?
Not necessarily. Although we believe the announced tariffs are a negative for the global economy, recent market moves have probably more than baked in the pain they will cause.
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Should US Equity Investors Fret About Rising Yields?
Not in the near term. The current environment of rising, but low, interest rates accompanied by strong earnings growth expectations is supportive for equities.
Read More »
Distressed Debt: A New Way to Categorize Managers
As the economic cycle progresses, the next recession draws inexorably closer, bringing with it the next downturn in the credit cycle. Recognizing this, institutional investors…
Read More »
CA Answers: Is Cash Still Trash?
Not in the United States. As short rates have increased and the yield curve has flattened, US T-bills offer more appeal than they have in some time (and short-dated Treasuries even more so). With nominal yields around 2%, real yields of T-bills are finally nearing positive territory, while two-year notes are firmly in the black.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited. The retailing industry is…
Read More »
CA Answers: Should Investors Reposition their Portfolios in Response to Recent Tariffs and the Rising Threat of Trade Wars?
Not necessarily. Although we believe the announced tariffs are a negative for the global economy, recent market moves have probably more than baked in the pain they will cause.
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Should US Equity Investors Fret About Rising Yields?
Not in the near term. The current environment of rising, but low, interest rates accompanied by strong earnings growth expectations is supportive for equities.
Read More »
Distressed Debt: A New Way to Categorize Managers
As the economic cycle progresses, the next recession draws inexorably closer, bringing with it the next downturn in the credit cycle. Recognizing this, institutional investors…
Read More »
Contact Us
We build customised portfolios focused on maximising results for each valuable unit of risk and capital.
We bring deep experience to serving the unique investment needs of complex asset and liability-sensitive pools including insurance firms, government entities, and other complex trusts and investment portfolios. In doing so, we focus on maximising results for each valuable unit of risk and capital. We think holistically, balancing the interaction of risk-hedging reserves and growth-oriented, surplus portfolios to optimal effect, and leveraging our firm’s full resources to the client’s best advantage.
Each client team is led by a senior investor and backed by expert investment professionals. Together, this team partners with each client to help refine strategic priorities and understand their trade-offs. This process helps us to ensure that every investment decision is informed by the portfolio’s unique requirements, and reflects what we believe will most effectively achieve its goals.
To deliver the best ideas, we have built a global firm with experienced investors focused on sourcing and evaluating opportunities worldwide — not just across traditional asset classes but also including a full range of alternative assets, such as private equity, private debt, hedge funds, and real assets. This breadth of experience and resources allows us to construct truly differentiated portfolios designed to help our clients reach their targets while reducing downside risk.
We also leverage our market presence and scale to negotiate favourable terms and fees with managers. To align ourselves with our clients’ interests, we do not offer proprietary, off-the-shelf investment products or accept payments to recommend managers’ products. We don’t have other business agendas that compete with our clients for our best ideas or for our focus on their best interests.
Services We Offer
Portfolio Management
In building and managing a total portfolio, we work on either a fully discretionary or non-discretionary basis. Under our discretionary (OCIO) model, we are responsible for portfolio strategy, implementation, day-to-day management, and operations. Under a non-discretionary arrangement, we are responsible for day-to-day oversight of the portfolio, providing directive recommendations on asset allocation, portfolio structure, and manager selection — all subject to approval by the client.
Asset Class Mandates
With investment expertise across asset classes, and specialised resources in alternative assets, we manage a portion of a portfolio, such as private equity, private credit, co-investments, hedge funds, real assets, or other asset classes. As with our total portfolio management services, portfolio management of asset class mandates is available on either a discretionary or a non-discretionary basis.
Staff Extension
We partner closely with organisations that have significant investment staff to complement and augment their in-house resources. In this capacity, we provide our expertise and manager relationships across asset classes, or in specific asset classes, and act as a sounding board for investment ideas.
Latest Research
CA Answers: Is Cash Still Trash?
Not in the United States. As short rates have increased and the yield curve has flattened, US T-bills offer more appeal than they have in some time (and short-dated Treasuries even more so). With nominal yields around 2%, real yields of T-bills are finally nearing positive territory, while two-year notes are firmly in the black.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited. The retailing industry is…
Read More »
CA Answers: Should Investors Reposition their Portfolios in Response to Recent Tariffs and the Rising Threat of Trade Wars?
Not necessarily. Although we believe the announced tariffs are a negative for the global economy, recent market moves have probably more than baked in the pain they will cause.
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Should US Equity Investors Fret About Rising Yields?
Not in the near term. The current environment of rising, but low, interest rates accompanied by strong earnings growth expectations is supportive for equities.
Read More »
Distressed Debt: A New Way to Categorize Managers
As the economic cycle progresses, the next recession draws inexorably closer, bringing with it the next downturn in the credit cycle. Recognizing this, institutional investors…
Read More »
CA Answers: Is Cash Still Trash?
Not in the United States. As short rates have increased and the yield curve has flattened, US T-bills offer more appeal than they have in some time (and short-dated Treasuries even more so). With nominal yields around 2%, real yields of T-bills are finally nearing positive territory, while two-year notes are firmly in the black.
Read More »
VantagePoint: Second Quarter 2018
Advice in Brief The global economy and capital markets are constantly evolving. From the industrial revolution in the 1700s, to information technology in the last…
Read More »
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited. The retailing industry is…
Read More »
CA Answers: Should Investors Reposition their Portfolios in Response to Recent Tariffs and the Rising Threat of Trade Wars?
Not necessarily. Although we believe the announced tariffs are a negative for the global economy, recent market moves have probably more than baked in the pain they will cause.
Read More »
CA Answers: Are Inflationary Pressures in the United States Building?
Yes. Inflationary pressures in the United States appear to be building, as positively trending wages, expansionary fiscal policies, and protectionist trade barriers feed into a humming economy.
Read More »
CA Answers: Should US Equity Investors Fret About Rising Yields?
Not in the near term. The current environment of rising, but low, interest rates accompanied by strong earnings growth expectations is supportive for equities.
Read More »
Distressed Debt: A New Way to Categorize Managers
As the economic cycle progresses, the next recession draws inexorably closer, bringing with it the next downturn in the credit cycle. Recognizing this, institutional investors…
Read More »
