Core Insights - Nomura Holdings Inc.'s CEO Kentaro Okuda sees significant potential in attracting Japanese investors to private markets for asset diversification [2][3] - The firm's alternative assets under management increased by 25% over the past year, reaching ¥2.7 trillion ($18 billion) as of June [3] - Japanese households hold over $14 trillion in financial assets, with a substantial portion still in cash, indicating a market opportunity for investment firms [4] Private Market Strategy - Nomura is actively pursuing private market opportunities to complement its traditional business of selling stocks and bonds [3] - Okuda emphasized the importance of educating clients about the characteristics and risks of unlisted products, especially in light of recent concerns in private credit markets [5] M&A Activity - Nomura's pipeline for advising on mergers and acquisitions is expanding rapidly, driven by Japanese companies seeking efficiency [6][7] - The firm is currently the top adviser on Japan-related M&A deals, outperforming competitors like Goldman Sachs and Morgan Stanley [7]

Core Insights - Captrust Financial Advisors has acquired Cobblestone Capital Advisors, adding $3.8 billion in client assets to its portfolio [1][2] - The acquisition enhances Captrust's presence in New York, marking its third office in the state and increasing its employee count to 87 [4] Company Overview - Captrust, based in Raleigh, N.C., manages over $1 trillion in assets under advisement and management [1] - Cobblestone Capital Advisors, founded in 1986, specializes in investment and wealth management, including private investments and family office services [3] Leadership and Team - Cobblestone brings 42 employees, including 15 advisors, led by CEO John DiPasquale, Chief Investment Officer Jason Garlock, and Managing Director of Business Development Chris Mooney [2][4] Financial Metrics - Captrust oversees more than $847 billion in nondiscretionary assets and over $237 billion in discretionary assets [5] - The firm has the highest retirement plan assets under administration among registered investment advisors (RIAs) [6] Recent Acquisitions - Prior to the Cobblestone acquisition, Captrust acquired Carolinas Investment Consulting, which had over $1.4 billion in assets [7]

Industry Insights - There is a significant demand for funding and equity in the data center sector, with estimates suggesting a market size potentially reaching $6.7 trillion, indicating a substantial investment opportunity [2][10][12] - The energy requirements for data centers are expected to surge, leading to increased interest in natural gas as a key energy source [3][4] - The private markets are currently perceived as untested, with concerns about the sustainability of returns in the face of potential economic downturns [15][16][18] Investment Strategies - Companies are advised to focus on relative value when evaluating investment opportunities, ensuring that each deal aligns with their portfolio strategy [4][5][7] - A cautious approach is recommended, with an emphasis on not originating deals merely for the sake of activity, but rather targeting sectors that show strong potential [7][8] - Long-term investment horizons are necessary for infrastructure projects, which typically require significant time to develop and yield returns [12][13] Market Conditions - Current market conditions are characterized by high equity valuations and tight credit spreads, raising questions about future equity returns [20][38] - The Federal Reserve's policies and potential interest rate cuts are critical factors influencing market dynamics, with expectations of continued high rates globally [22][24][43] - There is a notable interest in international markets, particularly in regions like Australia and Japan, where investors seek to diversify and find new opportunities [30][32][34]