Private markets after the reset: the return of selectivity
A durable framework for assessing private markets after repricing, with selectivity, capital structure and operating evidence back at the centre.
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A longer view on capital, markets, and stewardship.
Research and practical perspectives for investors making decisions beyond the next quarter.
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Bank liquidity: duration, deposits and the confidence cycle
How bank liquidity is shaped by asset duration, deposit behaviour, funding diversity and the confidence cycle linking balance sheets to depositors.
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Foreign exchange without a forecast
A framework for identifying currency exposure, setting hedging objectives and governing foreign exchange decisions without relying on forecasts.
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Credit beyond the screen: what direct lenders can learn up close
How direct lenders can use proximity, primary information and thoughtful documentation to understand the businesses behind credit metrics.
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What spending patterns reveal—and what they obscure
How to interpret consumer spending patterns alongside prices, credit, household balance sheets and differences hidden by aggregate data.
Read perspective After liquidity: designing a family capital framework
A practical framework for translating a family liquidity event into shared purpose, investment architecture, governance and durable decision-making.
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Behind the tap: the economics of modern payment rails
An explanation of payment-rail economics, from authorisation and settlement to fees, scale, resilience and card-transaction infrastructure.
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The infrastructure beneath the AI economy
An examination of the physical systems behind artificial intelligence, from power and data centres to cooling, connectivity and local capacity.
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Why vintage diversification still matters
Why commitment timing remains a distinct private-market exposure, and how pacing, liquidity and strategy interact across a long-horizon programme.
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Measuring what ownership can change
A disciplined approach to responsible ownership that connects material issues, governance, engagement and evidence without overstating influence.
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