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Research & insights

Notes from the investment team. We write about what we are underwriting, what we have declined, and occasionally what we got wrong.

All Real Assets Private Credit ESG Portfolio Construction Firm

Rebalancing is a risk control, not a return strategy

Letting winners run is how concentrated portfolios are built by accident. The mechanical case for quarterly bands.

Cash is usually treated as the residue of other decisions. Treating it as a deliberate allocation changed how our private book behaved under stress.

Curated headlines across markets, real assets, credit and energy.