Practical analysis for investment professionals

Alternative Investments


The Private Capital Wealth Equation, Part 2: The Economics Variable

The performance of alternative asset managers is encapsulated in the formula: Wealth = Controls + Economics. Here, we outline the economics component of the equation.

The Private Capital Wealth Equation, Part 1: The Controls Variable

Private capital fund managers have developed tools to reduce risk while protecting or even boosting their returns.

Higher Interest Rates: Some Hedge Fund Strategies May Benefit

Rising interest rates will provide a tailwind to three hedge fund strategies, in particular.

Drowning in the Private Equity Pool

What's most surprising about aggregated private market performance calculations? How deeply flawed they are.

Alternative Investments: Predictable Uncertainty in Private Markets

While analytical judgment is considered universal in science, in finance investment decisions are derived from mental heuristics.

The S-Curve: Bending the J-Curve in Private Equity

The J-curve narrative in private equity (PE) investments deserves a quiet obsolescence.

Market Resiliency, Capital Formation, and Investing for Our Future

The story of the markets over the last 10 years has been one of remarkable change. Yet economies are still struggling.

“Alpha-Flation”: A Private Market Syndrome

Why does investing in the "average" private market fund seem to go so poorly?

Pointless Market Equivalence? If Not the IRR, Why the PME?

The public market equivalent (PME) does not reflect the economic reality of private equity investing.

Strategic Asset Allocation or: How I Learned to Stop Worrying and Love the Dispersion

The old adage that allocation determines 90% of performance is rapidly becoming outdated.



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