Featured · General · Global
What is private-market investing?
Private-market investing means putting capital into assets that are not traded on public exchanges, such as private companies, loans, property and infrastructure.
· 3 min read
Insights
Clear thinking on private markets.
Plain-language guides and market notes for investors, sponsors and advisers. Every article opens with a short summary and closes with answers to common questions.
General · Global
Who counts as an accredited, professional or sophisticated investor?
These are regulatory categories for investors who are treated as able to understand and bear the risks of private investments, and each country sets its own tests.
· 3 min read
General · Global
Minimums, lock-ups and liquidity: how private-market terms work
Private investments set a minimum commitment and often lock your capital in for years, so liquidity is limited and planning matters.
· 3 min read
General · Global
The main risks of private-market investing
The main risks are loss of capital, illiquidity, valuation uncertainty, limited information, concentration, and reliance on the sponsor.
· 2 min read
Private credit · Global
Private credit explained
Private credit means lending to businesses or projects outside traditional banks and public bond markets, with returns that come mainly from interest and fees.
· 2 min read
Private equity · Global
Private equity explained
Private equity means investing in companies that are not listed, usually by buying a significant stake, working to improve the business, and selling it years later.
· 2 min read
Litigation finance · Global
Litigation finance: how it works, and why it is harder than it looks
Litigation finance means funding a legal claim in return for a share of any recovery, and it carries unusually concentrated risks that make it unsuitable for many investors.
· 3 min read
Secondaries · Global
Secondaries explained: buying existing stakes in private funds
A secondary transaction is the purchase of an existing investment or fund interest from another investor, rather than a new commitment to a fund.
· 2 min read
Real assets · Global
Real assets and real estate: what you actually own
Real assets are physical or tangible assets such as property, infrastructure, energy and land, and private investors usually hold them through a fund, a company or a special-purpose vehicle rather than owning them directly.
· 2 min read
Special situations and distressed · Global
Special situations and distressed debt explained
Special-situations and distressed investing targets companies or assets under financial or operational stress, where outcomes depend on restructuring, legal processes or events rather than ordinary market growth.
· 2 min read
Venture · Global
Venture capital explained
Venture capital means investing in young, fast-growing companies in return for ownership, accepting a high chance that many will fail in the hope that a few do very well.
· 2 min read
Collectibles and fine art · Global
Collectibles and fine art as investments: what to consider
Fine art and other collectibles can hold value, but they produce no income, are costly to keep and sell, and depend on taste, authenticity and a thin market, so returns are uncertain.
· 2 min read
General · Global
What good due diligence looks like
Good due diligence tests the sponsor, the strategy, the documents, the numbers and the structure, and records what was checked, what was not, and why.
· 2 min read
General · Global
How sponsors can prepare a raise for regulated advisers and investors
A well-prepared raise has a clear strategy, honest terms, consistent documents and an understanding of who is allowed to receive the offer in each country.
· 2 min read
Litigation finance · Global
Litigation finance: ten questions to ask before you consider it
Before considering litigation finance, ask who controls the cases, how losses and costs are shared, how long cases may take, how the portfolio is diversified, and whether you can afford to lose all of it.
· 2 min read
Private credit · Global
Loan notes explained
A loan note is a debt instrument issued by a company or special purpose vehicle that promises to pay interest and repay capital on set dates, usually without a public market to sell it.
· 3 min read
General · Global
Fees and costs in private markets
Private-market investments carry several layers of cost, including management fees, performance fees, set-up and transaction charges, and costs inside the structure, and they all reduce what you keep.
· 2 min read
General · Global
Fund structures explained
A fund structure decides who owns the assets, who controls decisions, who is liable and how money moves, so it is as important to understand as the underlying investment.
· 2 min read
Collectibles and fine art · Global
Cask whisky as an investment: what to check
Cask whisky investment means owning maturing spirit stored in bond, with value depending on the cask, the distillery, storage, costs and a market that can be narrow and illiquid.
· 2 min read
General · Global
How to read an information memorandum
An information memorandum is the main document describing a private offering, and reading it with a checklist helps you separate facts from marketing.
· 2 min read
General · Global
Cross-border private-market investing: tax, currency and rules
Investing across borders can add tax, currency and legal questions to the usual investment risks, and the answers depend on where you live and where the product is based.
· 2 min read
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