Market Overview & Investment Strategy - Exponence, a multi-strategy investment firm, manages $22 billion in assets across equity, fixed income, and alternative investment strategies [1] - The firm believes the world is undergoing a regime change to a multipolar world, impacting long-term investment implications [5][6] - Exponence emphasizes understanding geopolitical constraints versus preferences when making investment decisions [19][20] - The firm leans towards a value-oriented investment approach, balancing fundamentals with environmental changes [21] Equity Market & AI - The market's earnings expectations for hyperscale AI companies are viewed with skepticism over the next one to two years [8][9] - It remains to be seen whether AI's productivity benefits will translate into sustained earnings for individual companies [9] International Markets - Europe is seen as an interesting market for the balance of the year due to fiscal space, reduced intracontinental barriers, and favorable regulatory environment [10][11] - The firm is bullish on European private equity and domestically focused sectors like telecommunications [12] Private Markets & Alternative Investments - Private markets are primarily an institutional play, with tailwinds for European small-cap and private markets [13] - Including private markets in long-dated target date or target risk portfolios for retail investors (through 401ks) is acceptable with appropriate guard rails [15]

Private equity is enjoying a renaissance in an unlikely place https://t.co/VvjBkUnyhm ...

Compensation Trends in Family Offices - The number of family offices has tripled since 2019, reaching over 4500 worldwide [1] - Median compensation for CEOs of investment-focused family offices exceeds $800,000 [1] - Median compensation for CIOs is $900,000 [1] - CEOs of large investment-focused family offices (with over $1 billion in assets) average over $3 million annually [2] - More than half of family offices offer executives co-investments alongside the family [3] - Some family offices offer carried interest or a share of investment profits and profit sharing [3] Drivers and Strategies - Rising pay is driven by performance as family offices become more like private equity firms [2] - Family offices are increasingly investing directly in private companies [2] - Family offices are hiring private equity executives and paying them more like private equity firms [3] - Family offices provide a dedicated representative to ensure clients are not being overcharged by larger institutions [9]

Inside Private Equity’s $29 Trillion Retirement Savings Grab https://t.co/ThbiV3UcIz https://t.co/ThbiV3UcIz ...

The largest public pension plan in the US is committed to private equity, according to CEO Marcie Frost, even as the asset class has struggled to return cash to its investors amid a prolonged deal slump. https://t.co/iC9q1C9Pd8 ...

Private Equity & Retirement Savings - Private Equity 行业正在争夺 29 Trillion 美元的退休储蓄市场 [1] Workplace Dynamics - Coldplay 事件揭示了办公室恋情的一些启示 [1]

Private Equity & Retirement Savings - Private Equity 行业正在积极进入 29 Trillion 美元的退休储蓄市场 [1]

Private Equity & Retirement Savings - Private Equity 行业正在涉足 29 Trillion 美元的退休储蓄市场 [1] Workplace Dynamics - Coldplay 事件揭示了办公室恋情的一些启示 [1]

Once a fundraising success, Trilantic is now selling assets at a steep discount as middle-market private equity firms face a cash crunch. https://t.co/9VuBDIQx3D ...

Industry Overview - The US childcare sector includes roughly 11 million children under 15 in paid childcare [2] - Childcare in the US is uniquely expensive, comprising a higher proportion of average income than elsewhere [4] - Private equity firms are increasingly involved in the childcare sector, drawn by the strong demand and real estate opportunities [6] Private Equity Involvement - For-profit chains account for 10-12% of the childcare sector and are growing due to access to debt financing and capital markets [6] - Private equity firms utilize sale leasebacks, selling the real estate occupied by childcare centers and leasing it back, generating profits [7] - National chains and independent centers targeted by private equity account for about 39% of children in care, expected to grow to 45% in 5 years [12] Risks and Challenges - Overleveraging can lead to childcare chain collapses, as seen with Guidepost Montessori closing 40-50 sites and filing for bankruptcy [13] - Similar collapses have occurred in other countries like the Netherlands and Australia [14][15] - Rapid growth and large chains can lead to a loss of control over quality and other concerns [16] Alternative Solutions and Perspectives - Private equity may increase capacity but doesn't fundamentally solve the demand for affordable, high-quality childcare, especially for lower-income families [26] - Short-term gains and economic solutions may not be the best drivers when dealing with children's needs [27] - Public funding, like Vermont's $125 million childcare bill, can provide access to childcare assistance for over 7,000 families and boost the economy by $375 million [20][23]