Notes from the firm.
Research, regional commentary, and letters from the President. Published only when there is something material to say, never on a schedule.
The Gulf Allocator's Playbook for 2026
Notes from the Middle East desk on positioning Gulf-region capital across asset classes and geographies in a higher-volatility regime.
Asian Family Offices and the Generational Wealth Transition
A wave of generational wealth is moving across Greater China, Singapore, and Japan. We examine the operating-model implications for the families involved.
The Future of Sharia-Compliant Private Credit
A framework for evaluating Sukuk, murabaha-backed structures, and halal private credit allocations within the family's portfolio.
Building for the Long Wave
Reflections on nearly a decade of compounding capital across cycles, and the disciplines that endure when markets do not.
Private Credit at the End of the Easy Cycle
Underwriting standards in middle-market direct lending after two years of rate normalization and spread compression.
Infrastructure Equity in a Post-Subsidy Europe
Capital allocation in European energy transition assets as policy support recedes and merchant exposure returns.