Emerging market debt offers yields that are hard to ignore. Yet across 47 MAC strategies reviewed by bfinance, a half allocated less than 10% to it and a third less than 1%. This piece sets out why.
Read more: Why don’t MAC strategies typically include emerging market debt?
Governments are seeking to turn investors' attention closer to home in pursuit of resilience – Germany is at the forefront of efforts to redirect private capital.
Read more: Infographic: private capital and German ‘place-based investing’
Since the 2007/08 Global Financial Crisis, aggressive monetary easing, prolonged low interest rates and repeated policy backstops have compressed risk premia – but assessing the potential impact of credit spread normalisation is now critical for investors allocating to credit markets.
Read more: How might a normalisation of credit spreads impact returns?
Disappointing distributions, weak returns and a softer fundraising climate now appear to be putting real pricing power in investors’ hands. That is a key finding of the bfinance Private Market Fees and Costs 2026 snap poll. A large percentage of investors have observed a recent decline in fees for ‘like-for-like’ private market strategies, according to the survey of 84 LPs from around the globe.
Read more: bfinance poll: investors gain edge in private market fees
Private market secondaries are booming – but are they creating a welcome 'layer cake' of liquidity solutions, or a 'traffic jam' that postpones real exits? We explored this question in bfinance's inaugural Allocator Briefing podcast, with four of our senior researchers unpacking what's driving today's surge, where mispricing and misalignment can creep in, and what investors should watch out for.
Read more: Secondaries under scrutiny: layer cake or traffic jam?
More Articles ...
- Why investors can still rely on the negative equity/bond diversification free lunch
- German infrastructure – what will it take to unlock domestic investment opportunities?
- Global Infrastructure Survey – Three Takeaways as Broad Enthusiasm Gives Way to Selectivity and Precision
- The ‘GP Stakes’ Debate: Overlooked Opportunity or Canary in the Coalmine?
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