The Valt Journal #44
Our last edition for FY2025. We will be back soon!
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Numbers this edition
Links: 73
Authors: 35
PRIVATE MARKETS AND ALTERNATIVE ASSETS
TVJ Spotlight 🔦
📝 Accessing private markets: Evergreen funds (Partners Group)
📝 How investors can gain advantage as the asset class matures (BCG)
📝 Rise of the retail investor: Impact on private markets (Juniper Square)
📝 2025 Global investor survey: Navigating private markets (Adams Street)
📝 Harnessing technological change in private markets (Goldman Sachs)
📝 Tapping into India’s transformation (BlackRock)
📝 Mapping the evolution: Hedge funds in a new market regime (Goldman Sachs)
✏️ Tokenization could expand retail private market access (Institutional Investor)
✏️ Private assets scrutinised (EDHEC)
✏️ Private market investments in defined contribution plans (Goldman Sachs)
📜 Periodicals »
📝 Guide to alternatives 1Q FY25 (JP Morgan)
✏️ TRTPM monthly blog – Edition February 2025 (UBS)
✏️ Unified global alternatives – Hedge fund bulletin (UBS)
PRIVATE CREDIT x FIXED INCOME
TVJ Spotlight 🔦
📝 Global Debt Report 2025 (OECD)
📝 Asset-based credit in 2025: Powering ahead (TPG)
📝 Income generation: Seeking steady streams in unstable times (Goldman Sachs)
📝 Evolution of direct lending (Morgan Stanley)
📝 Lower middle market direct lending: A resilient opportunity (TPG)
📝 Perspectives On Private and Liquid Credit (Antares Capital)
📝 The case for active fixed income (BNY Investments)
📝 Building diversified portfolios with CLOs (Nuveen)
📝 Sharpening the lens on private credit (Barings)
📝 Investing in European private credit (Morgan Stanley)
📝 Unlocking the potential of European leveraged loans (Amundi)
📝 Five reasons European investors should not overlook U.S. senior loans (Nuveen)
📝 EM Debt Restructurings: A Year of Resilience and Innovation (MetLife IM)
📝 EM Debt: The benefits of a blended approach (Barings)
✏️ Why Asia-Pacific investment grade is a hidden gem (KKR)
✏️ Asia credit market on the recovery path (UBS)
✏️ Fortifying portfolios with private real estate credit (Brookfield)
✏️ Fund financing: An opportunity for insurers (Abrdn)
✏️ Private debt in an evergreen format (Stepstone)
✏️ Middle-market demand helps fuel expansion in private credit (TCW)
✏️ Private debt made accessible (Stepstone)
✏️ Private Credit – current dynamics shaping markets (UBS)
✏️ The M&A resurgence: Opportunities in fixed income (Neuberger Berman)
✏️ Going global in investment grade credit (Neuberger Berman)
✏️ Germany’s fiscal shift: A boost for European credit? (Robeco)
✏️ Should you bet on mean reversion in fixed income premiums? (Dimensional)
✏️ A unique window for real estate debt investors (Barings)
✏️ Three strategies for smarter corporate lending (BCG)
📜 Periodicals »
📝 In brief: And one more thing … in credit (KKR)
📝 Howard Marks note: Give me credit (Oaktree)
📝 Global fixed income views (JPMorgan)
📝 Global fixed income weekly (Goldman Sachs)
✏️ High Yield investment views (Nomura)
PRIVATE EQUITY
TVJ Spotlight 🔦
📝 StepStone private equity 2025 market outlook (StepStone)
📝 Global private equity report 2025 (Bain & Company)
📝 The compelling case for semi-liquid evergreen PE (Morgan Stanley)
📝 India growth equity report 2025 (Praxis x IVCA)
📝 2024 US private equity: Middle-market annual report (E78)
📝 Outperformance in the European small to middle market (StepStone)
✏️ Secondaries in 2025: The rise of single-asset specialists (TPG)
✏️ Typical time between VC rounds is shrinking in SaaS & rising in fintech (Carta)
🎥 GP-Led secondaries market in Asia (TPG)
SECTOR FOCUS
Energy Transition x Climate Finance
📝 The case for sustainable investment opportunities across asset classes (TCW)
📝 The $10 billion opportunity in green shipping (BCG)
📝 Landing the economic case for climate action with decision makers (BCG)
✏️ Breadth and depth make water an attractive long-term investment (Robeco)
✏️ Improving women’s health is a $100 billion–plus opportunity (BCG)
✏️ Five issues for sustainability investors in 2025 (Abrdn)
✏️ Offshore ambitions: China’s outsized role in decarbonising the world (M&G)
Tech x AI
📝 Navigating DeepSeek’s disruption: Opportunities and challenges (State Street)
📝 Lower AI costs will drive innovation, efficiency, and adoption (TCW)
📝 The next frontier: The rise of agentic AI (Adams Street)
✏️ DeepSeek and the evolution of LLMs: Cheaper, better, faster? (KKR)
✏️ Quantum computing: A new era for financial services (State Street)
✏️ GenAI revenue could surpass $1 trillion by 2028 (Morgan Stanley)
Real Estate x Infrastructure
✏️ Infrastructure 2025: Megatrends and mid-market opportunities (Goldman Sachs)
✏️ AI and datacenters: A new source of electricity demand (UBS)
✏️ Adapting to economic trends in real estate (UBS)
✏️ Real estate: Prudent optimism amid uncertain times (Natixis)
📝 Europe real estate roundtable 2025 (Nuveen)
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