Private markets edit: The intersection of PE and PD

All quiet on the PE front, unlike in the PD trenches

In this edition of the Private Markets Edit, focused exclusively on parts of the private markets universe, Savvy Investor has put together some of the latest thought pieces on private equity and private debt from global institutions and experts. What roles might these asset classes play in portfolios in the coming years? How is AI disrupting and creating opportunities for private markets?

Insights into private equity

A Clearer View of Private Equity (KKR)

Recent headlines have raised questions for investors about performance, deal flow, and exits. What are the answers?

Europe's Middle Market: Depth, Diversification, and Opportunity (HarbourVest)

Can private equity play a role in the growth of European small- and mid-market companies?

Decoding Secondary Returns: Implications for Investors (Abbott Capital)

Breaking down the complexity of secondary returns by examining the underlying factors that drive returns and associated risks.

2026 Mid-Year Investment Perspectives (Blackstone)

Notably, AI has seen extraordinary demand growth that is expanding the need for private markets solutions.

Unicorns Reconsidered: Four Open Questions for Institutional Allocators (Meketa)

Why investors are questioning the unicorn label’s usefulness as an analytical category.

Insights into private credit

AI Disruption in Private Credit: Exposure to Software Firms in BDCs (BIS)

Large exposures to the software sector could now pose risks due to generative AI disruption.

How Inefficiencies Create Entry Points in Opportunistic Credit (Manulife IM)

For compliance reasons, this paper is only accessible in certain geographies

What’s driving the broadening opportunity set and how long will this last?

U.S. Direct Lending for European Portfolios (Principal Asset Management)

U.S. direct lending provides numerous key advantages for European investors. What are they?

Possibilities and Limitations for the Use of PD in Restructurings (Oliver Wyman)

Is private debt a relevant complement to traditional bank financing in company restructurings?

Credit Secondaries: Stepping into the Spotlight (Carlyle)

Will credit secondaries constitute a core allocation in the coming years?