The Valt Journal #42
Featuring latest research on Private Credit (KKR, UBS, Robeco); PE (Juniper Square); Alts as an asset class (Stepstone, Arcapita, Nuveen); RE/Infra, Tech, Energy (Impax, PWC, BCG, JPM)
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Numbers this edition
Links: 40
Authors: 19
PRIVATE MARKETS AND ALTERNATIVE ASSETS
📝 Implications of Trump 2.0 on the private markets (Stepstone)
📝 5 Things to Know From KKR’s 2025 Outlook (KKR)
📝 Vantage Point 1Q2025 (BNY Mellon)
📝 Investment outlook 2025: The turning of the wheel (Arcpita)
📝 Carry now, pay later (TCW)
📝 A nascent real estate recovery beckons (Nuveen)
✏️ Nine themes poised to reshape portfolios and the future (Robeco)
✏️ Staying invested in a changing world (GIC)
PRIVATE CREDIT x FIXED INCOME
✏️ Negative covenants: The silent, but mighty, guard rails of credit (KKR)
✏️ Outlook for direct lending (Morgan Stanley)
✏️ Four reasons to be optimistic about high yield bonds in 2025 (Impax)
✏️ Is 2025 (finally) the ‘Year of the Bond’? (Morgan Stanley)
✏️ Asset-based finance in action: A buy now, pay later loan portfolio (KKR)
✏️ Finding the credit sweet spot (Harbourvest)
✏️ A compelling case for high yield (BNY Mellon)
✏️ Diversifying private credit portfolios: beyond traditional metrics (UBS)
📝 Emerging markets: Attractive relative valuations; differentiation is key (TCW)
✏️ Emerging market debt: High conviction for higher rewards (Robeco)
✏️ Eight reasons to like investment grade bonds in 2025 (Abrdn)
✏️ Bonds are back: Mastering market timing for long-term success (Robeco)
✏️ Fixed income: poised to shine in 2025? (Abrdn)
✏️ What could the new cycle hold for real estate debt investors? (M&G Investments)
✏️ Will US bond markets outperform Europe and China in 2025? (UBS)
📜 Outlook and Periodicals »
📝 Defined contribution trends 2025 (Goldman Sachs)
📝 Q4 2024 quarterly liquid credit market commentary (Partners Group)
📝 Global fixed income weekly (Goldman Sachs)
📝 2025 US corporate pension review and preview (Goldman Sachs)
📝 Municipal fixed income outlook 2025 (Goldman Sachs)
PRIVATE EQUITY
✏️ The state of private equity: Hope in ‘25 (Juniper Square)
✏️ The state of venture capital: A look back at 2024, an eye on 2025 (Juniper Square)
SECTOR FOCUS
Real Estate x Infrastructure
✏️ Real estate: building the business case for sustainability (Abrdn)
✏️ Known unknowns of infrastructure investments (UBS)
✏️ Enabling Asia’s rapid electrification (Impax)
✏️ How digital infrastructure investment could support economic prosperity (Macquarie)
AI x Tech
📝 AI makes telcos smart. But are telcos smart about AI? (BCG)
✏️ DeepSeek or swim: Has the AI thesis fundamentally changed? (JP Morgan)
📝 AI investment potential undeterred by DeepSeek news (TCW)
✏️ Consumer trends in 2025: Retail media, entertainment and injectable aesthetics (Robeco)
✏️ Unlocking AI's potential in asset and wealth management (PWC)
✏️ Medtech innovation: dissecting inefficiencies in healthcare deliver (Impax)
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