Private Equity

In the current installment of The Roundup, Oaktree experts explore various investment risks and opportunities, including the heightened demand for mezzanine financing, potential entry points for special situations investors, the limited competition for unrated asset-backed finance investments, and the growing need for specialized life sciences lenders.

Longtime Investor Alert readers have often seen me say that government policy is a precursor to change. What this means is that, when policymakers act—whether through subsidies, sanctions, tariffs or regulations—markets can sometimes respond swiftly and dramatically. We’re seeing that play out right now in real time, especially in the copper market.

When you grow up with a father who worked in the brokerage business, you hear a lot of stories.

VettaFi examines free cash flow yields for midstream MLPs and corporations using 2025 estimates and compares with energy and the S&P 500.

Despite NVIDIA’s stock flashing a bearish “death cross”—its 50-day moving average slipped below the 200-day moving average for the first time since January 2023—the energy at the conference was electrifying. Every major industry was represented, from health care to defense, signaling that artificial intelligence (AI) is expanding at a white-knuckle clip.

The Defined Outcome investment landscape is rapidly evolving, offering new opportunities for managing risk and return with greater precision.

I recently celebrated another trip around the sun, which meant I couldn’t let the occasion pass without enjoying some birthday cake.

Recent economic data has been all over the map. Consumer confidence sank this month to the lowest level since November 2022, yet the labor market remains strong, with historically low unemployment and rising wages.

During the onset of the COVID crisis, I made a note to myself to write an update in five years to discuss what happened to the markets since that trying period of time. This week, I received a task alert in Salesforce reminding me to write that update.

In a world of rich valuations and heightened geopolitical uncertainties, we believe Japanese equities are well positioned to deliver attractive returns.

Three months into 2025, the U.S. IPO (initial public offering) market remains in a rut. Why? And, perhaps just as importantly, is a rebound still possible?

Bitcoin and other cryptocurrencies didn’t do much of anything following last week’s crypto summit at the White House.

The U.S. has poured more than $120 billion into Ukraine since its war with Russia began three years ago, but with a new administration in Washington, that support is grinding to a halt.

Cambria Investments CIO and founder Meb Faber explores David Swensen’s legendary investment strategy at Yale’s endowment, comparing its long-term performance to traditional portfolios and examining whether individual investors can replicate its success.

One month into President Donald Trump’s new term, financial markets are adjusting to a rapidly shifting economic and policy environment. Investors are watching closely as tariffs, interest rate expectations and regulatory changes take center stage.

We manage risk tactically over the short-term by investing across a broad array of themes and asset classes including cash.

More than a century ago, then-Representative William McKinley pursued an aggressive tariff strategy that sought to protect American industry and reduce reliance on foreign imports. The McKinley Tariff Act of 1890 raised import duties to an average of 50%, one of the highest levels in U.S. history.

Many independent firms and Registered Investment Advisors aspire to move upmarket, targeting wealthier clients who demand more sophisticated financial solutions.

The U.S. economy remains structurally productive. American Economic Exceptionalism is powered by innovation and labor flexibility.

Are European equities poised for a sustained recovery relative to U.S. equities? We outline five reasons why, as long-term investors, we continue to favor U.S. equities over European equities.

This week has been both intense and inspiring as I attended the YPO Edge event in Barcelona, Spain. I had the privilege of experiencing numerous thought-provoking presentations, from the transformative impact of AI and disruptive technologies on businesses, to the vital role of health and wellbeing in fostering a learning-driven workforce.

For two years in a row now, the smallest endowments have significantly outperformed their much larger peers. This is causing some to question if the typical endowment model is still working.

The healthcare industry's bellwether event, the JP Morgan Healthcare Conference (JPM25), kicked off the year as it traditionally does,

For a few months now, I’ve been referring to today’s heightened geopolitical climate as the “new red Cold War,” where artificial intelligence (AI)—not necessarily fighter jets and nuclear weapons—serves as the primary battleground between the U.S. and its adversaries, most notably Russia and China.

Is an M&A boom brewing?

Integrating private assets may enhance target-date glide paths, but know your exposures.

Consider gaining AI market exposure through data center ABS (asset-backed securities) and CMBS (commercial mortgage-backed securities).

Markets, as many of you are aware, don’t like uncertainty. And right now, there’s a lot of uncertainty surrounding U.S. trade policy.

Managers see mixed opportunities in emerging markets and a broadening opportunity set for small caps across global markets.

The artificial intelligence (AI) revolution is moving at lightning speed, and one of the biggest stories this past week underscores just how critical the technology has become—not just for Silicon Valley, but for America’s national security and global competitiveness.

Equity markets are facing a variety of headwinds, but the economy remains strong, and we believe there will be ample opportunities to invest in attractively valued quality growth companies in 2025.

We wrote this in the evening last night and with the news so fluid, there are further things we could add this morning.

While planning for a CMA (Capital Market Assumptions) at the close of the year—and in the wake of an unexpected U.S. election result—it’s tempting to adopt a short-term perspective, focusing on the uncertainties and anxieties generated by President-elect Trump’s policies and their potentially disruptive impact on the economy and the market.

Markets have responded with gusto since November’s presidential election, especially in a few key—and perhaps expected—industries. The biggest winner so far is the automobile industry...

While every new year arrives with its own unique set of opportunities and challenges for institutional investors, we believe 2025 could offer more than the typical share.

Investors, many of whom were worried about stock valuations before the election, have much to consider heading into 2025. There seems reason for some exuberance—but a rational exuberance, based upon a plausible foundation of corporate and economic health.

VettaFi examines midstream EBITDA growth guidance for 2025 and future years.

At the start of every year, we publish our popular Periodic Table of Commodity Returns, an interactive infographic of the gains and losses across the commodities market.

New policies could disrupt markets, but high starting yields and strong demand for income should provide ballast.