The Satellite Newsletter #54

Dear Valued Member of the Moonfare Network,

Welcome to this month's Satellite.

If you follow private markets closely, you’ll have noticed that private credit has been attracting a lot of attention recently. Much of it, we'd argue, lacks context.

This gap between perception and reality is worth closing. Our Head of PE Investments Philip Meschke and Chief Economist Mike O'Sullivan lay out where the pressure is coming from, why it remains contained and where the opportunities lie for patient capital.

We also revisit one of the most enduring assumptions in portfolio construction: whether the classic 60/40 split still holds up in today's macro environment. Is it time to rethink the foundations, with private markets now in the mix? Find out in our latest research.

Happy reading!

Your Moonfare team

The 60/40 golden age is over: the case for a more resilient portfolio

The 60/40 portfolio was engineered for a macro environment that has since changed. As correlations, valuations and market structures have shifted, so too must allocation frameworks.

We believe a 50/30/20 allocation — equities for growth, bonds for income, alternatives for correlation-adjusted alpha — may offer a more resilient foundation.

Find out more

Private credit is facing a tougher market. That's not the same as a crisis

Read our take →

The case for going direct: More control, lower fees, better access?

Get the full story →

The best growth managers stay on top. Will AI keep it that way?

Find out→

The spectacular rise of NAV lending and what it means for private equity

Read on →