Private Capital Amid Public Capital Scarcity
Public capital allocation is governed by fast cash, so when money flows out of retail funds, it’s a headwind to deal activity. Private capital has long-term, locked-up funds. But in this period of uncertainty, managers are taking longer looks at risks versus opportunities…
▶︎ Read Sept 26 2022 newsletter: here
▶︎ Chart of the Week: here (by The Daily Shot)
(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)
Latest news
Software, consumer-related direct lending deals fell in H1'26
The software and technology sector, the second-most-active sector in 2025 at 17% of total deal activity, slid to fifth place in the first half of 2026.
Unconquered Territory
With most of the map still unexplored, there’s room for a sequel.