Subscription Credit Facilities: How PE Funds Borrow to Inflate IRR — and What LPs Must Know
Subscription credit facilities delay the clock on LP capital calls, mechanically boosting reported IRR by an average of 6.1 percentage points without adding a dollar of real economic value. With over
July 30, 2026
New Mountain Capital's $5B CBIZ Acquisition: What PE's Professional Services Consolidation Wave Means for Investors
Grant Thornton Advisors, backed by New Mountain Capital, announced a $5 billion all-cash acquisition of CBIZ Inc. on July 29, 2026, at $55 per share and a 54% premium to CBIZ's 30-day VWAP. The
July 30, 2026
Fundrise 2026 Review: Real Returns, Hidden Costs, and Who Should Actually Use It
Fundrise is a legitimate, well-run platform that has delivered a 5.7% annualized net return from 2018 through 2025, but that number flatters specific loss years, obscures significant fund-by-fund
July 30, 2026
Infrastructure Secondaries: The $25B Market Accredited Investors Are Overlooking
Infrastructure secondary deal volume hit $25 billion in 2025, more than doubling from $11 billion in 2023. Buyers acquire existing stakes in private infrastructure funds at discounts to net asset
July 30, 2026
RREEF Property Trust's $1.95B Fifth Offering: Reading the Nontraded REIT Stress Signals
RREEF Property Trust filed a Form S-11 on July 27, 2026, seeking $1.95 billion in its fifth public offering, the smallest offering cap in its 13-year history. The fund has never crossed the $500
July 30, 2026
Upstart and Castlelake's $4B Forward-Flow Deal: What Private Credit's AI Bet Means for Accredited Investors
On July 29, 2026, Upstart Holdings (NASDAQ: UPST) announced a multi-year, $4 billion forward-flow agreement with funds managed by Castlelake, L.P. The deal is the largest of its kind between the two
July 30, 2026
Henry AI Raises $16.5M to Automate CRE Deal Production — What It Means for Real Estate Investors
Henry AI closed a $16.5 million Series A led by FirstMark Capital to scale its AI platform that cuts commercial real estate deal production time by 90%. The company has already processed $150 billion
July 30, 2026
Why Most AI Venture Funds Will Underperform — and How to Spot the Exceptions
Global AI venture funding hit $225.8B in 2025, representing 48% of all venture capital deployed that year. But six companies absorbed nearly half that total. The math of AI VC is broken for most fund
July 30, 2026
Interval Funds Explained: Quarterly Redemption Windows, the 5% Cap, and What Advisors Won't Tell You
Interval funds are closed-end investment vehicles that allow redemptions only during quarterly windows, capped at 5% of net asset value per quarter under SEC Rule 23c-3. That structure works smoothly
July 30, 2026
Partners Group: Inside the $186B Platform Giving Accredited Investors Access to Buyouts and Infrastructure
According to Institutional Real Estate Inc. , Partners Group closed its infrastructure secondaries program at $5.5 billion in July 2026 — the largest dedicated infrastructure secondaries fundraise eve
July 29, 2026
Venture Debt: What It Is, Who Uses It, and When It Makes Sense vs. Equity
According to the 2025-2026 Venture Debt Report from Runway Growth Capital and PitchBook , U.S. venture debt reached $68.8 billion in 2025 across approximately 1,000 deals — the highest annual volume o
July 29, 2026
Waterfall Distribution in Private Equity: How LPs Actually Get Paid (And When They Don't)
Private Equity Waterfall Distribution in Private Equity: How LPs Actually Get Paid (And When They Don't) By Jeff Barnes, MBA July 29, 2026 TL;DR A private equity waterfall is the contractual order in
July 29, 2026