Private Credit
5 min read
Asia's Credit Divergence: A $92 Billion Institutional Pivot Amidst Global Strain
Asia-Pacific's private credit sector is decoupling from broader slowdowns, projected to expand from $59 billion in 2024 to $92 billion by 2027 — a 16% CAGR driven by institutional allocators seeking alternatives to stretched Western valuations.
March 2026
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Private Credit
5 min read
The Yield Paradox: Why Private Credit Found Its Match in Semi-Liquid Structures
The $3 trillion private credit market is converging with semi-liquid fund structures — a fundamental alignment between contractual income streams and vehicles offering periodic redemptions, reshaping portfolio construction.
March 2026
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Private Credit
6 min read
The New Capital Architecture: Why Traditional Banks Are Ceding Europe's Middle Market
Basel III's escalating capital requirements are driving European banks to permanently withdraw from middle-market lending. Private credit firms are filling the gap — capturing 24% of leveraged loan issuance and growing.
March 2026
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Private Debt
5 min read
Why Impact Capital is Migrating from Private Equity to Debt
Impact-focused private debt expanded from $23 billion to $58 billion between 2019 and 2025. Institutional allocators are increasingly favouring credit's quarterly cash flows over equity's uncertain exit timelines.
March 2026
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Private Equity
5 min read
Private Equity's Reality Check: The 2026 GP Outlook on Valuations, Liquidity, and AI
79% of GPs anticipate flat valuations rather than continued expansion. Without multiple expansion, operators must deliver — three-quarters model margin gains of up to 300 basis points between acquisition and exit.
March 2026
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Private Equity
4 min read
The Liquidity Mirage: Private Equity's $3.7 Trillion Inventory Problem
The private equity industry confronts $3.7 trillion in unsold assets as exit activity collapsed from 1,210 deals in 2021 to 323 by 2023. Holding periods stretch and zombie funds accumulate across vintages.
February 2026
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Private Markets
5 min read
Why the "Big Dogs" Are Abandoning Public Peaks for Private Markets in 2026
Ares, Apollo, EQT, Brookfield, and Schroders are rotating capital away from expensive public equities — identifying five major pivots: public-to-private rotation, credit expansion, European deal flow, AI infrastructure, and mid-market resilience.
March 2026
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Private Capital
5 min read
APAC's Split Recovery: A Data-Driven Outlook on APAC Private Capital 2026
Asia-Pacific's private markets transition into 2026 with improved but uneven conditions. India and Japan lead exit recovery while Greater China stabilises below pre-2022 levels, and Southeast Asia searches for its floor.
February 2026
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Real Estate
7 min read
China Real Estate: The Great Unwinding
China's property sector faces an inventory crisis: 27.4 months to clear existing stock across 100 major cities. Property development investment collapsed 17.2% in 2025 — the first decline in fixed-asset investment since 1989.
February 2026
Ingrid Zhu
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Space Economy
5 min read
Two Orbits, One Planet: Navigating the Bifurcation of the Global Space Economy
The space sector is fragmenting into two competing ecosystems. Asian family offices — representing 18% of active space investors — emerge as critical neutral participants, leveraging geographic neutrality across both systems.
2025
David H. Peng
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Space Economy
5 min read
The Future of Space Is Fragmented — And China Is Defining Its Own Path
The global space economy, valued at $650 billion, operates as two distinct systems. Government-backed investment in Chinese commercial space firms rose from 20% to 54% between 2018–2024, reshaping the capital landscape.
2025
David Peng
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Space Economy
8 min read
Charting Space's Future: What Automobiles in 1890 and Airplanes in 1910 Can Teach Us
Space startups received $12.5 billion in 2023 — a 30% increase from 2022 — with total investment exceeding $298 billion since 2015. The market is projected to reach $1.8 trillion by 2035.
2025
David Peng
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Space Economy
4 min read
When Space Misbehaves: How Hong Kong Can Stay Connected During a Kessler Syndrome or Carrington Event
Hong Kong's dense submarine fiber-optic cable connectivity — more than a dozen cable systems landing at multiple sites — provides resilience independent of satellite networks. Resilience is not about one perfect technology. It's about layers.
2025
David Peng
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Entertainment
4 min read
The Music Economy Outlook: Drivers Behind the $2 Trillion Live Events Surge
Music tourism is valued at nearly $6 billion in 2023, projected to reach $9 billion by 2030. The festival market is accelerating at 17.4% CAGR as younger demographics shift spending decisively toward live experiences.
March 2026
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Media & Entertainment
4 min read
BTS's Tour to USA: Analyzing the Billion-Dollar Economic Resurgence
BTS's 2021 Permission to Dance tour — just 12 shows across three cities — generated $100 million in Los Angeles and $160 million in Las Vegas. The 2026 79-date global tour is forecast to generate over $1 billion for Hybe.
February 2026
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Leadership
David Hoantee Peng Named President and Senior Advisor of Blufin Advisory
David Hoantee Peng joins with three decades of experience across BlackRock, Merrill Lynch, Legal & General, AXA, and Aberdeen. He will lead strategies in space finance, deep technology investments, and institutional private placements.
2025
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