The SEC Is Investigating Situational Awareness. The Real Story Is the Leverage, Not the Genius
Situational Awareness, the hedge fund run by former OpenAI researcher Leopold Aschenbrenner, peaked near $45 billion in assets under management in early July 2026, then lost roughly 67% of that...
August 28, 2026
Private Credit Now Funds $1.2 Trillion of US Commercial Real Estate: The Data Behind the Shift
Private credit funds and insurers now finance $1.2 trillion of the $6.4 trillion US commercial real estate market, 18.
August 28, 2026
How to Evaluate a Hedge Fund's Leverage and Margin Practices Before Investing
A hedge fund's leverage is the single biggest driver of how much money you can lose, and most offering documents make it hard to see.
August 28, 2026
StepStone Closes $1.7 Billion Infrastructure Secondaries Fund and What It Tells Accredited Investors About Private Markets
On August 26, 2026, StepStone Group (Nasdaq: STEP) announced the final close of its StepStone Secondaries Infrastructure Fund (SSIF) at $1.7 billion in total capital commitments, making it the...
August 27, 2026
Kalshi's SEC Form D Reveals $1.12 Billion Raised, 71 Investors, and Why You Probably Can't Get In at the Primary Level
On August 25, 2026, Kalshi Inc. filed a Form D with the SEC revealing it has sold $1,120,010,122 of a $1,499,997,894 private offering, with 71 investors in and roughly $380 million still...
August 27, 2026
When the Same Investors Keep Setting the Price: A Warning on Rapid Private Valuation Step-Ups
The Short Version: Three deals from August 2026 share the same structure: a late-stage private company or fund takes on a massive follow-on raise weeks or months after a prior round, at a sharply...
August 27, 2026
How Much Should You Actually Allocate to Alternative Investments? A Framework by Net Worth and Liquidity Horizon
The standard advice to put "10-20% in alternatives" tells you almost nothing useful. The right number depends on how much of your net worth is genuinely illiquid-tolerant, your income needs over...
August 27, 2026
Search Fund LP Investing: What the 2026 Stanford Data Says About Returns, Risk, and the Operator Bet
Search fund LP investing delivers headline returns that most private equity funds cannot match on paper. The 2026 Stanford Graduate School of Business Search Fund Study reports a 33.9% aggregate...
August 27, 2026
Tax Equity Investing: How Accredited Investors Earn Returns from Federal Renewable Energy Tax Credits
Tax equity investing is how the U.S. renewable energy industry actually gets built. Instead of earning yield from electricity revenues, accredited and institutional investors supply capital to...
August 27, 2026
Water Rights and Mineral Rights: The Physical Alternative Assets Most Accredited Investors Never Consider
Water rights and mineral rights are two of the most overlooked physical asset classes available to accredited investors. Each can be owned and traded separately from the land itself, each can...
August 27, 2026
UC Asset LP Gets SEC Green Light for $5M Cannabis Property Offering: What the 8% Yield Claim Actually Means
On August 24, 2026, the SEC issued its notice of qualification for UC Asset LP's Regulation A offering circular, clearing the Atlanta-based cannabis real estate partnership to sell up to $5...
August 27, 2026
Alto IRA Review 2026: Fees, Risks, and Whether a Self-Directed IRA for Alternative Assets Is Worth It
Alto (Alto Solutions Inc., operating as AltoIRA) lets accredited and non-accredited investors hold alternative assets including private equity via AngelList, farmland through AcreTrader, fine art...
August 27, 2026