2026 Outlook on Alternative Investing Strategies

This document is a quarterly report that discusses the outlook for alternative investments as we approach 2026. It outlines the current macroeconomic environment and the increasing interest in alternative investments as a means to diversify portfolios, enhance income streams, and hedge against inflation. The report highlights several key areas of focus, including private credit, private real estate, infrastructure, and private equity. It explains why private credit is at an inflection point, detailing the shift in investor strategies from traditional stock and bond allocations to alternative credit options. The report also presents insights on private real estate's appeal due to favorable interest rates and property valuations. Additionally, it discusses the growing need for infrastructure investment driven by global megatrends and the outlook for private equity in the current economic climate. The report concludes with reflections on client themes and market insights, emphasizing the importance of active allocation strategies in navigating the evolving investment landscape.