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As markets grow more complex and the dispersion of outcomes increases, we believe hedge funds will continue to play a valuable role in investor portfolios through 2026, offering the potential to enhance returns, reduce volatility, and provide diversification regardless of the market’s ultimate direction.
Performance is increasingly driven by structural growth drivers rather than cyclical market exposure. Secular themes such as AI, deglobalization, demographic shifts and energy demand are creating clear winners and laggards. This environment reinforces the importance of selectivity, diversification and active capital allocation to capture emerging pockets of outperformance.
We are currently observing a structural reorganization within established megatrends. In data centers, compute is shifting from a centralized model to a distributed, multi-layered network, as inference-driven and latency-sensitive workloads scale. This expands demand and reshapes where and how infrastructure is deployed.
The foundation for a multi-year recovery is now in place. The next phase depends less on direction than on breadth.
We believe the current market environment is becoming more favorable for scaled private credit lenders as pricing power improves and financing demand accelerates, driven by cyclical and secular forces.
Where is the opportunity for the most cash flow growth in real estate? Tony Charles, Head of Research and Strategy for Global Real Assets, recently sat down with Lauren Hochfelder, Global Head of Real Assets, to share her perspective.
Tony Charles, Head of Research and Strategy for Global Real Assets, recently sat down with Brian Niles, Co-Head of MSREI and Co-Head of NHREF to discuss the outlook for real estate and what is takes to succeed in today's complex environment.
Signs of excess in the AI space are appearing – and the market may be ripe for creative destruction in 2026. Thus far, vast amounts of capital have been spent funding a to-be-determined future revenue. We question how long the appetite for funding the hopes of future revenue will persist. Learn why in our 2026 Hedge Funds outlook.
The proliferation of data centers and their related power needs are the two most important trends we are seeing right now. We want to focus on corresponding secondary and tertiary themes that offer better risk adjusted return profiles. Learn why in our 2026 Infrastructure outlook.
A combination of motivated sellers, increasingly engaged buyers, and greater availability of debt is creating favorable conditions for a rebound in transaction activity and asset values. Learn why in our 2026 Real Estate outlook.
We believe the present cycle has several more years to run, leading to healthier exits and distributions to PE investors. Learn why in our 2026 Private Equity outlook.
We expect new deal demand and a large refinancing wave to gradually overtake private credit supply allowing lenders to preserve discipline, strengthen terms, and capture the illiquidity premium to public markets. Learn why in our 2026 Private Credit outlook.
