All Insights

With cash yielding 5%, the allure of asymmetric returns has become even more compelling. We explain why, in today’s high-risk-free-rate environment, the value proposition of alternative investments is stronger than ever.

Private equity fundraising has far outpaced transaction volume among large-cap sponsors, while the middle market has been more closely aligned to the opportunity set, leading to more attractive valuations.

Cyclical and secular forces are challenging the traditional banking sector. We explore the changing lending landscape and its implications for markets and investors as private alternatives fill the void as banks retreat.

A new strategy note from Chief Market Strategist Troy Gayeski

The 60/40 may have thrived in the past, but today, alternative investments appear better-positioned across these four key metrics.

This week’s chart examines the case for U.S. middle market firms, which expect a notably brighter future than their international peers.

New commercial real estate deliveries are set to plunge in 2025 and beyond, setting the stage for an improved sentiment in the near term.

The positive correlation between stocks and bonds has broken a 20-year trend of low-maintenance diversification. We argue this is not a cyclical anomaly but the start of a new regime.

The Magnificent 7 makes all the headlines, but private equity has quietly outperformed the S&P 500 over the past 5-, 10-, 15- and 20-year periods.

A conversation with Jeff Erdmann, founding partner of The Erdmann Group at Merrill Private Wealth Management

Direct lending loss rates compare favorably to much of the leveraged finance market, as this week’s chart shows.

Private credit investors’ realized losses have been about half that of unrealized markdowns during the past three periods of market stress.