podcast Kencel July 15

Churchill’s Ken Kencel on Private Credit’s Second Act

From the myth of “semi-liquid” private credit to why the highest returns can be misleading, Kencel challenges some of the industry’s most widely held assumptions.

Julie Segal

amazon
For Members Only

Skye Global’s Amazon Problem

Stephen Taub

Illustration by II

Why Top Pensions Like Verizon and Lockheed Martin are Outsourcing to Goldman

James Comtois

biotech

Biopharma Funds Surge on Deals and Drug Breakthroughs

Stephen Taub

tech

PivotalPath: Hedge Funds Post One of Their Best First Halves in Nearly Three Decades

The Editorial Team

art-valuations050223.jpg

Despite Software Making a Comeback, Investors Still Struggle With Valuations

James Comtois

carry the load
For Members Only

Seligman’s AI Winners ‘Carry the Fund’

Stephen Taub

money

Study Says Life Insurers May Need $4.5B More Capital for Private Credit Holdings

Michelle Celarier

abstract
For Members Only

Light Street Rockets Higher as Tech Bets Fuel 37 Percent Gain

Stephen Taub

biotech
For Members Only

Biotech-Focused Hedge Funds Back Talawar’s Fast Moving SPAC Merger

Stephen Taub

Donna Snider (via LinkedIn)

Hackensack Meridian’s Donna Snider Has Something Many CIOs Don’t: Liquidity

James Comtois

LinkedIn photo

David Greenberg Has Left Virginia Tech Foundation

James Comtois

workers

Opinion: When Workers’ Capital Funds Their Own Displacement

Angelo Calvello

hit the brakes
For Members Only

Hedge Funds Hit the Brakes on Venture Deals After Strong Start to 2026

Stephen Taub

Jason Alden/Bloomberg

Late to Private Markets, City of Austin May Have Gotten the Timing Right

James Comtois

AI
For Members Only

Tiger Global, Maverick Back Upscale AI at $2B Valuation

Stephen Taub

art-slowdown.jpg

Despite the Hype, Asset Managers Are Measured in Their AI Spend

James Comtois

(Peter Boer/Bloomberg)

OCIO Boom Is Pushing Smaller Foundations Deeper Into Private Markets

James Comtois

trends
For Members Only

CTAs Stall in May After Strong Start to Year

Stephen Taub

business date

Opinion: Why VCs Broke Up with SPACs — And Why They Are Dating Again

Dan Nash

Andre Peroldcopy

Andre Perold on AI: The World Is Changing Faster Than Markets Can Process

Julie Segal

curveball
For Members Only

Glenview’s Curveball Trade Pays Off

Stephen Taub

map of Asia, China

The AI Trade Beyond the Mag Seven Is Paying Off for Tekne

Michelle Celarier

Sacramento, CA (David Paul Morris/Bloomberg )

Negative Cash Flow Pushes Sacramento County Deeper Into Private Credit

James Comtois

unlock
For Members Only

SPACs Reemerge as Exit Valve to Unlock Private Bets

Stephen Taub

egg shaped money in nest on dollar background

De-Dollarization Doesn’t Mean Capital Is Leaving America

Jonathan Kandell

biotech
For Members Only

Biopharma Hedge Funds Cool After Breakout Year

Stephen Taub

abstract image of AI

OpenAI Backers Include Hedge Fund Heavyweights Poised for IPO Payoff

Stephen Taub

cityoflondon-big.jpg

European Real Estate Credit Firm Zenzic Expands With $100m Commitment from Stable Asset Management

James Comtois

Sohel Hussain

Meyer Memorial Trust’s Sohel Hussain Launches Investment Advisory

James Comtois

New York Life Insurance Company headquarters in New York City (Getty Images)

New York Life Gets into Resi Mortgage Loans as Scale Forces New Bets

James Comtois

background

PivotalPath: Technology Leads Returns — and Allocator Demand

The Editorial Team

Multi colored caps lids - stock photo (Credit: Igor Radchenko / Getty Images)

Microcaps Are Beating Large Caps — But Allocators Aren't Biting

James Comtois

Stuart Fiertz

Cheyne Capital’s Stuart Fiertz on Private Credit’s Slow Motion Stress Test

Julie Segal

gavel enforcement regulatory SEC

Andrew Left’s Fraud Conviction Raises New Risks for Activist Short Sellers

Michelle Celarier

AI brain technology OpenAI Anthropic

Anthropic’s Backers Include a Who’s Who of Hedge Funds

Stephen Taub

Downtown Cincinnati (Credit: Jeremy Poland / Getty Images)

Why One Life Insurer Is Taking More Equity Risk Than Peers

James Comtois

Recent Articles

selective
For Members Only

Discovery’s Strong June Reinforces Its Bet on a More Selective AI Boom

Stephen Taub

art-illinoisinflationheding-0905.jpg

The Pension Fixer Who Finally Got to Build His Own Portfolio

James Comtois

AI
For Members Only

Flight Deck Capital Soars 119 Percent Through June on Strength in AI Enablers

Stephen Taub

markets abstract
For Members Only

How Third Point Generated Strong Gains With Less Market Risk

Stephen Taub

calm before storm
For Members Only

Greenlight’s Flat June Masks Wild Swings Beneath the Surface

Stephen Taub

USA, Massachusetts, Boston, Financial District, Composite image of illuminated financial district at dusk

Cambridge, Other Advisors See Spike in Interest in Co-Investments

James Comtois

biotech
For Members Only

Beyond the Biggest Deals, Hedge Funds Are Backing Top IPO Performers

Stephen Taub

cut out the middle man

T. Rowe Price Restructure Shows Growing Influence of Consultants

John Crabb

abstract
For Members Only

Perceptive SPAC Delays Freenome Merger

Stephen Taub

II Reveals More Nominees for the 2026 Allocators’ Choice Awards. Now It’s Time to Vote.

The finalists for Corporate Pension Plan CIO, Team of the Year, Allocator/Manager Partnership, and the award for Leadership and Vision are out now.
<p>II Reveals More Nominees for the 2026 Allocators’ Choice Awards. Now It’s Time to Vote.</p>
AI Is Making Even Tech Hedge Funds Look Like the S&amp;P 500

AI Is Making Even Tech Hedge Funds Look Like the S&P 500

PivotalPath’s data suggests AI concentration is no longer just reshaping benchmarks. It’s making it harder for even specialized tech investors to look meaningfully different from the market itself.
Julie Segal May 27, 2026