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CIO Corner
CIO Office Perspectives
Unlock exclusive insights into the latest market drivers and economic trends with CIO Office Perspectives.
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Private Credit's Quiet Shifts: 5 Questions the Market Can’t Ignore
August 19, 2025
Fundraising patterns are shifting, geographic capital flows are changing, and certain asset classes are claiming structural advantages that deserve scrutiny. The headlines often focus on totals—how much was raised, where it came from—but the real insight comes from the “why” and the “what next.” In a market shaped by delayed rate cuts, policy uncertainty, and evolving investor profiles, the right questions matter more than the immediate answers.
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The Shifting Ground of Infrastructure Investing: Scale, Strategy, and Risk
August 18, 2025
From mega funds dominating the fundraising tables, to North America’s sudden comeback, to the sharp pivot toward core-plus strategies, the shifts we’re seeing aren’t just quarterly noise. They point to deeper debates about concentration strategy, and risk appetite. Add in a steep drop in deal value and the debate over whether infrastructure has become the new safe haven” in private markets, and you’ve got plenty of tension for investors to think about.
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Junction Point: Risks and Opportunities Meet (Monthly Opportunity Compass - Augus 2025)
August 07, 2025
Markets remain at an inflection point. Equities have rallied in the TACO trade post the Liberation Day drop, with major indices trading around all-time highs. Despite concerns of economic slowdown, earnings remain healthy with >70% beats across the world. On the macro front, after soft payroll data, there's now an 85% chance the Fed cuts in September. The headlines sound bullish. But the questions underneath are far more interesting.
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Alternatives at a Crossroads: What Preqin’s H2 2025 Market Scan Means for Investors
July 28, 2025
According to Preqin’s State of the Market: H2 2025, alternatives are navigating a messy macro, uneven deal activity, and a clear investor pivot toward liquidity and income—yet the long-run case for private markets remains intact.
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US–EU Tariff Truce at 15%: The Last Piece Clicks In—But the Bill Still Rises
July 28, 2025
On July 27, 2025, Washington and Brussels announced a trade deal that effectively sets 15% tariffs on reciprocal trade and autos—and likely on semiconductors and pharmaceuticals—just days before the August 1 deadline for sweeping tariff hikes. The language from both sides points in the same direction but isn’t perfectly aligned.
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Monthly Opportunity Compass: Finding the Right Balance
July 10, 2025
Markets face multiple challenges including tariffs, tax policies, and Fed decisions. While economic growth is slowing globally, it's not a synchronized recession. Political factors, especially Trump's actions, create volatility. Investors are rotating towards AI stocks, hard assets, and selective emerging markets while maintaining caution.
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Rich Gain, Immigrants Pain
July 04, 2025
President Donald Trump’s newly passed tax bill — dubbed by supporters as a “middle-class miracle” — is anything but neutral in its impact. With a massive $4.5 trillion in tax cuts over the next decade, it creates sharp divides between who benefits and who foots the bill. Wealthy individuals, business owners, and defense-linked sectors come out smiling. Meanwhile, immigrants, low-income families, and clean energy industries are left picking up the pieces.
Contributor
Gareth Nicholson
CIO and Head Discretionary Portfolio Management
Disclaimer
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IWM CIO Corner Disclaimer
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