The Valt Journal #01
The Valt Journal #01
Featuring The New Regime by Blackrock; New Landscapes by Carlyle; PE in New Paradigm by Apollo; Credit Markets by Oaktree; Future of Private Markets by Partners Group; PE Secondaries by UBS.
REPORTS AND RESEARCH
The new regime of increased volatility
Blackrock Investment Institute
In this report, Blackrock establishes the basics of a new approach to portfolio construction. Portfolios need to be more dynamic and nimble in this new regime. Check out the latest insights in the report by Blackrock.
2023 Credit Outlook: New Landscapes
Carlyle
Over the past year, private credit has experienced a surge in both return expectations and market share. Carlyle’s latest white paper deep dives into the credit market landscape for 2023.
Private Equity Investing in a New Paradigm
Apollo Global Management
A paradigm shift happened in 2022, as the Fed ended almost 15 years of loose monetary policy. The report lays out a framework that can generate sustainable potential alpha in PE investments and the short- and long-term implications of the current market on PE investing.
Private Markets: The New Traditional Asset Class
Partners Group
Read the latest white paper on how private and public markets have changed roles in financing the real economy and what this means for the future.
ARTICLES
Future of Private Markets 2023
State Street
Private markets investors are navigating new challenges amidst geopolitical tensions, market volatility, inflation and interest rate hikes. Understand the importance of data in making informed investment decisions when investing in private markets.
Making defensive alternative portfolios
PIMCO
There are two distinct investor cohorts when it comes to defining the objectives and the definition of success for a defensive alternatives program, and the approach depends on where you lie.
Why Invest in Asian Private Equity?
Morgan Stanley
Private equity in Asia is a potential bright spot for investors that offers the opportunity for outperformance. Deep dive on drivers of outperformance including leapfrog potential, valuation arbitrage, and the opportunity for company-level professionalization and efficiency improvement.
Credit Markets: Navigating the Flight Risk
Oaktree Capital
The crisis of confidence in the banking system may expand opportunities in private credit, Dislocated markets are creating attractive opportunities for CLO managers – but manager selection is critical. Default rates in the loan market may increase more than those in the high yield bond market over the next year – and recovery rates could be lower.
Unpacking Private Equity valuations and returns: How fair is the fair value?
Goldman Sachs
PE marks appear fair in aggregate, but GPs may take different approaches to valuing their current positions. How should investors assess fair value?
Private Market Insights – April 2023 Edition
UBS
Quick snapshot of latest trends, drivers and the news in private equity, private credit, real estate and infrastructure.
THE EXPERTS’ CORNER
Impact Investing - The Road Ahead
TPG
In this piece, TPG focuses on impact investing and its RISE fund via a series of interviews with Jim Coulter, TPG Executive Chairman, Maya Chorengel and Steve Ellis, Co-Managing Partners of The Rise Fund, and Hank Paulson, executive Chairman of TPG Rise Climate and former US Secretary of Treasury.
PE Secondaries: A buyer’s market
UBS and Private Equity International
Roundtable with industry experts from marquee firms like UBS Asset Management, Partners Group, AltamarCam and Debevoise & Plimpton on secondaries market with Private Equity International.
PODCASTS, VIDEOS AND WEBINARS
Apollo's Drescher on Retail Market Push, Diversification
Bloomberg
In talks with Stephanie Drescher, Chief Client and Product Development Officer, Apollo Global as she speaks about the need for providing diversification for individual investors and Apollo tapping into the retail market.
Capital Allocators Podcast - Private Equity Panel
HarbourVest
HarbourVest Managing Director John Toomey joined Ted Seides’ Capital Allocators podcast for a conversation on current market environment, portfolio construction, new sources of capital, and more.
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