Manager Selection

StepStone’s Mike Elio sees institutional capital becoming more selective as investors seek better routes to liquidity and reassess where future opportunities lie.

The challenge facing institutional investors increasingly centres on overcoming the operational friction that can hinder long-term success. Fulcrum Asset Management’s Matthew Roberts explains why implementation has become the next frontier.

Institutional investors remain committed to private markets despite geopolitical uncertainty, but Coller Capital’s latest Barometer suggests attention is shifting from increasing allocations to selecting managers, managing liquidity and refining portfolio construction.

As direct lending matures and defaults begin to rise, institutional investors are placing greater emphasis on underwriting discipline, workout capabilities and manager specialisation.

Record-low distributions have forced investors to rethink private equity liquidity, with secondaries and continuation vehicles increasingly being used as portfolio management tools.

Leading institutional investors say capital inflows and spread compression are reshaping private credit – but disciplined underwriting and structural complexity still offer opportunity as the cycle matures.

Redington’s Nick Samuels discusses the best way to select (and deselect) fund managers in private markets, where information is less standardised and data often…