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The definitive source of private markets intelligence.
Apollo and State Street: The Private Credit Panic Is Missing the Point
State Street Investment Management President & CEO Yie-Hsin Hung and Apollo Asset Management Co-President John Zito took the Bloomberg Invest 2026 stage to make the case that bringing private credit to retail investors is not a product gimmick but a structural inevitability.
1 hour ago5 min read
HPS's Kapnick: Private Credit's Next 30 Years Are Just Getting Started
What's New HPS Founding Partner and CEO Scott Kapnick used his Bloomberg Invest 2026 appearance to deliver a characteristically measured but emphatic message: private credit is not in a bubble, it is in the early innings of a structural multi decade expansion. Speaking days after HPS completed its integration into BlackRock, Kapnick framed the current moment of volatility not as a crisis signal but as the natural dispersion event that separates disciplined managers from oppo
1 hour ago3 min read
Private Credit's Reckoning Has Arrived, Apollo CEO Warns
Apollo Global Management CEO Marc Rowan used his Bloomberg Invest appearance to deliver a blunt message: the $1.8 trillion private credit industry is entering a prolonged shakeout driven by software sector defaults, BDC redemptions, and a string of high profile blowups. Apollo's own shares have fallen 30% year to date as investor anxiety intensifies over whether the industry's rapid growth outpaced its underwriting discipline.
1 day ago3 min read
94% of HNW Investors Now Allocate to Private Markets, Surpassing Institutional Benchmarks
What's New Long Angle's 2026 High Net Worth Asset Allocation Report reveals that 94% of high net worth investors now allocate to private and alternative assets, effectively eliminating the distinction between "core" and "alternative" holdings. The fifth annual benchmark study, surveying 233 investors with an average net worth of $17.3M, finds that private markets command 28% of total net worth and 31% of investable portfolios (excluding home equity). Private company equity al
2 days ago4 min read
PE's K Shaped Recovery: Megadeals Mask Deeper Cracks
Bain & Company's Global Private Equity Report 2026 reveals that private equity posted its second best year ever in 2025, with buyout deal value surging 44% to $904 billion and exit value jumping 47% to $717 billion. But the recovery was decidedly narrow.
4 days ago3 min read
Algorithms Are Coming for Private Equity Allocators
Oliver Gottschalg, HEC Paris professor and founder of Gottschalg Analytics, made a striking case on Fund Shack that machine learning models he has been building for eight years can materially outperform human decision making in private equity fund selection and secondaries pricing.
4 days ago3 min read
Evergreen PE Funds Face Scrutiny Over "NAV Squeezing"
Evergreen PE funds face "NAV squeezing" critique as billions flow into structures with zero hurdle fees and instant secondary markups.
Feb 223 min read
Private Capital Enters a New Era of Tax, Liquidity and Retail Growth
PwC's 2026 Private Capital Outlook reveals that private capital is entering 2026 at a decisive inflection point where growth ambitions, liquidity engineering, and tax strategy are converging into a single integrated decision framework.
Feb 223 min read
PE Dealmaking Roars Back After Three Year Slump
McKinsey's Global Private Markets Report 2026 reveals that private equity dealmaking returned with force in 2025, ending a prolonged downturn that had gripped the industry since 2022. Total PE deal value reached $2.6 trillion globally, up 19% over 2024, with buyout and growth transactions exceeding $500 million surging 44% to top $1 trillion. The year also produced the largest buyout in history: the $55 billion consortium takeover of Electronic Arts.
Feb 223 min read
Apollo Says PE's Easy Money Era Is Over
What's New David Sambur, Matt Nord, and Antoine Munfakh, Apollo's co-heads of private equity, make the case in their January 2026 report Private Equity Returns to Its Roots that the asset class must abandon the leverage and multiple expansion playbook that dominated 2010 to 2022 and return to disciplined buying, hands on operational improvement, and flexible exit strategies to generate alpha in a normalized rate environment. Why It Matters Since 2018, capital calls have ex
Feb 212 min read
Private Credit's Great Convergence Is Here
The recently published PRISM Private Credit Primer maps a market that has grown tenfold since 2008 into a $3.5 trillion asset class, with projections pointing toward $4 to 5 trillion by 2030. The old walls between public and private credit are coming down fast.
Feb 172 min read
LPs Are All In on Private Credit and Demanding DPI
The latest Coller Capital Global Private Capital Barometer surveyed 108 institutional investors managing $1.97 trillion collectively. The message is clear: show me the money.
Feb 152 min read
Infrastructure: The Asset Class Hiding in Plain Sight
Stonepeak has grown from $10B to $76B in AUM by investing in infrastructure assets most people interact with daily but never think to invest in, from data center connectivity hubs to power generation to transport networks.
Feb 152 min read
Family Offices Reshape Private Markets Deal Flow
What's New Family offices are no longer passive fund investors but active deal partners appearing alongside sovereigns and pensions on major transactions, with secondaries emerging as the single most requested strategy across every geography from New York to Dubai to Tokyo. In a conversation on the Alt Goes Mainstream podcast , Sara Naison Tarajano, Partner and Global Head of Goldman Sachs Apex Family Office Coverage, revealed that corporates raising capital now treat the fam
Feb 153 min read
Private Markets Enter a 'Believer's Market' Era
The surplus of capital chasing private market deals is a mirage created by a temporary deal flow drought, not a structural imbalance. In a conversation at the Goldman Sachs Alternatives Summit on the Alt Goes Mainstream podcast, Jeff Fine, Global Co Head of Alternatives Capital Formation at Goldman Sachs Asset Management, argued that capital is consolidating rapidly among the top five to ten managers while mid market firms run on fumes from legacy fees.
Feb 155 min read
Goldman Bets Big on Secondaries as a Problem Solving Business
The secondaries market has grown 100x from $2 billion in annual volume to over $200 billion, yet remains a tiny fraction of the multi trillion dollar private markets ecosystem it serves.
Feb 154 min read
Wealth Channel's Alt Adoption Is Still in Early Innings
Only 40% of advisors discuss alts with clients while millennials already allocate 20% to the asset class.
Feb 154 min read
Not All Capital Is Created Equal in Private Credit
Goldman's credit chief warns the cycle started three years ago and dispersion will finally separate disciplined platforms from the capital flood.
Feb 154 min read
Goldman Sachs Forecasts Alt Demand Will Outstrip Origination Supply
Goldman warns alt demand will outstrip origination supply in 3–5 years as retail, insurance, and institutional capital converge.
Feb 154 min read
Secondaries Markets Hit $200B as Liquidity Crunch Reshapes Private Equity
What's New The secondary markets have officially outgrown their "cottage industry" origins, with annual transaction volume surpassing $200B in 2025, up from just $9B during the 2008 financial crisis and roughly $1B a quarter century ago. In a wide ranging conversation on the Alt Goes Mainstream podcast , Lexington Partners' Taylor Robinson explained why four consecutive years of distribution slowdowns have transformed secondaries from a niche liquidity mechanism into essentia
Feb 154 min read
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