2026 Outlook

Signals in the Noise

From policy shifts to market volatility, there’s no shortage of noise shaping markets. What signals will matter most for global fixed income, private credit and real estate in the year ahead? Our experts weigh in.

2026 Outlook

Global Fixed Income

The outlook for global fixed income in 2026 is anything but static. How will evolving credit conditions and geopolitical developments shape the landscape? Hear from our experts across global high yield, EM debt, IG credit and CLOs.

Watch Now

Public Fixed Income

Global Fixed Income: Themes to Watch in 2026

Tight spreads meet elevated all‑in yields as policy uncertainty, AI capex, and uneven growth set the stage. We see selective opportunities across High Yield, CLOs, IG Credit, and EM Debt—with 2026 shaping up as a year for rigorous credit picking.

Outlook – 7 min read

2026 Outlook

Private Credit

Investors are broadening their private credit allocations to include a wider range of strategies and asset classes. What does this mean for areas like asset-based finance, direct lending and portfolio finance? Our experts weigh in.

Watch Now

Private Credit

Direct Lending: Views on the Year Ahead

Direct lending isn’t fading—it’s evolving. In this Q&A, Orla Walsh shares her insights on growth, competition, and what disciplined managers need to know as the market matures.

Outlook – 4 min read

Private Credit

Asset-Based Finance Steps Into the Spotlight

Asset-based finance (ABF) is a broad and expansive market that can serve as a complement to traditional private credit. Jim Moore, Head of Private Placements and ABF, shares his views on how to define ABF, who is investing in it, and what makes it attractive.

Conversations – 6 min read

Portfolio Finance

Portfolio Finance: 101

In this animated explainer video, we unpack what portfolio finance is, why it’s gaining traction, and how it’s helping investors tap into private markets with flexibility, diversification, and downside protection.

Video – 2 min watch

2026 Outlook

Global Real Estate

Against today's evolving backdrop, our experts across real estate debt and equity shed light on how they are navigating opportunities and risks—and where they expect the most compelling relative value to emerge in the year ahead.

Watch Now

Real Estate

Why Real Estate Debt & Why Now?

Commercial mortgages offer similar benefits as private debt along with the security and optionality of real estate equity. Amid a wave of refinancing
needs and reduced bank competition, non-bank lenders are finding stronger structures and better pricing opportunities.

Insights – 5 min read

Skyline view of Charlotte, North Carolina at twilight.

Real Estate

U.S. Real Estate: Dispersion as a Key Market Feature

The market is shifting toward one where value is led by real estate fundamentals, but it's important to “spend time in the tails” as structural changes introduce a broader range of potential outcomes.

Quarterly – 9 min read

Business district of Paris, France with car-filled roads at sunset.

Real Estate

European CRE: Macro Uncertainty Outweighs Strong Fundamentals

Europe has managed to weather various geopolitical storms this year, but the hoped for recovery in property investment has stalled. With property pricing also treading water, the opportunity to enter at the start of a new property cycle has been extended.

Quarterly – 7 min read

Signals in the Noise

Global Fixed Income

Related Content

Global Fixed Income: Themes to Watch in 2026

Private Credit

Related Content

Direct Lending: Views on the Year Ahead

Asset-Based Finance Steps Into the Spotlight

Portfolio Finance: 101

Global Real Estate

Related Content

Why Real Estate Debt & Why Now?

U.S. Real Estate: Dispersion as a Key Market Feature

European CRE: Macro Uncertainty Outweighs Strong Fundamentals