Much of the recent focus has been on private credit, but the more consequential developments may be unfolding in private equity. The latest Bain Global Private Equity Report provides a great overview of how the PE system is faring as a whole. (Global Private Equity Report 2026 | Bain & Company). Across podcast conversations on The CIO Chair (The CIO Chair), a recurring theme has been the role of private markets in institutional portfolios. Global pension funds now represent o

“Liberty means responsibility. That is why most men dread it.” - George Bernard Shaw We spend way too much time talking about the state or governments just because they are big and noisy. The types of questions we ask are: what it should provide us in need? What it should invest in? What it should stop or regulate? The state really does matter and has been invested strong powers but the state is not the whole country. I think our relentless focus on the state forgets society.

“If a man knows not to which port he sails, no wind is favorable” – Seneca The deep state “The deep state” or the “The blob” are both colourful descriptions of a deep network of well positioned people with an agenda. This cabal can sway governments no matter what happens at the polling booth. At first this seems like conspiratorial claptrap, the ramblings of those who have spent too much time talking about UFOs or vaccines, but their arguments are appealing. Before dismissi

“I honestly believe it is better to know nothing than to know what ain’t so.” - Josh Billings Uncertainty is a fact of life . It permeates every part of our existence and cannot be avoided. We face uncertain health, business prospects and ups and downs in our environment. Today’s blog is about what uncertainty does to us, why we sometimes end up with bad outcomes under uncertainty and what practical steps we can take to reduce its negative impacts. Comfort with uncertainty