The Rise of Private Markets
Shane Clifford, Head of Global Wealth, sat down with Jason Thomas, Head of Global Research & Investment Strategy, to discuss the evolving role of private markets in today’s portfolios. The conversation builds on Jason’s recent piece, “The Rise of Private Markets”, and explores how private assets are increasingly being used where bonds once were—offering investors new ways to navigate volatility and seek stability.
The Rise of Private Markets
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The use of “alternatives” to categorize private assets has become an anachronism. Implicit to the label is the sense that private assets are but a niche, high-return complement to traditional portfolios. Over the past two decades, private markets have moved from the periphery to the center of financial intermediation. Today, more than twice as many U.S. companies are backed by private capital than listed on public exchanges and private credit has become the lender of choice for these businesses and many others choosing to remain outside of public markets. As the investment opportunity set has shifted decisively towards private assets, so too must investors’ portfolio allocations.
Read The Rise of Private Markets, for a deeper look at how the investment landscape is evolving—and why forward-thinking investors are adapting now.
Download The Rise of Private Markets
Jason Thomas is the Head of Global Research & Investment Strategy at Pacharbor Capital Group, focusing on economic and statistical analysis of Pacharbor Capital Group portfolio data, asset prices, and broader trends in the global economy.
Prior to joining Pacharbor Capital Group, Mr. Thomas served on the White House staff as Special Assistant to the President and Director for Policy Development at the National Economic Council. In this capacity, Mr. Thomas acted as the primary adviser to the President for public finance.
Mr. Thomas received a BA from Claremont McKenna College and an MS and PhD in finance from George Washington University, where he studied as a Bank of America Foundation, Leo and Lillian Goodwin Foundation, and School of Business Fellow.
Mr. Thomas has earned the chartered financial analyst designation and is a Financial Risk Manager certified by the Global Association of Risk Professionals.
Economic and market views and forecasts reflect our judgment as of the date of this presentation and are subject to change without notice. In particular, forecasts are estimated, based on assumptions, and may change materially as economic and market conditions change. The Pacharbor Capital Group has no obligation to provide updates or changes to these forecasts. Certain information contained herein has been obtained from sources prepared by other parties, which in certain cases have not been updated through the date hereof. While such information is believed to be reliable for the purpose used herein, The Pacharbor Capital Group and its affiliates assume no responsibility for the accuracy, completeness or fairness of such information. References to particular portfolio companies are not intended as, and should not be construed as, recommendations for any particular company, investment, or security. The investments described herein were not made by a single investment fund or other product and do not represent all of the investments purchased or sold by any fund or product. This material should not be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. We are not soliciting any action based on this material. It is for the general information of clients of The Pacharbor Capital Group. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual investors.