Shrinking public markets mean growth in private markets
Take-private volume has outpaced IPO volume by 3.5x since 2022. This represents an accelerating shift in opportunity toward private markets.

Middle market at the center of U.S. job growth
With employment data in focus, the middle market has shined, outpacing job growth in small and large-cap firms by more than double.

New rate regime, same rate volatility?
Fed rate cuts have not appeared to end rate volatility. Treasury yields retraced their decline as markets digested a still data-dependent Fed.

Credit quality comes into focus amid heightened volatility
High yield bonds have outperformed senior secured loans in recent months, given their more attractive duration profile and higher credit quality.

Middle market private equity outperforms amid elevated rates
Middle market private equity has outperformed mega cap PE amid the elevated rate environment since Q2 2022. It remains well-positioned today.

Alternative lenders fill a growing CRE lending void
As CRE deal volume shows signs of thawing, alternative lenders sit in an excellent position to capture attractive income opportunities.
