Markets Edge

ReadingPrivate equity is rotating toward real assets with pricing power and geographic scarcity. Software multiples are repricing; services with payroll and customer lock-in are repricing upward.

ReadingInsurance distribution is being repriced upward by PE. Public market confidence in the sector is weakening; private buyers are stepping in at lower multiples than historical norms but with conviction on long-term positioning.

ReadingMidstream consolidation in the Permian is accelerating. Asset prices are stabilizing at levels that assume production holds. Smaller operators in the basin should expect acquisition interest or volume pressure.

ReadingThe 13-week inflow streak masked a narrowing list of stocks driving returns. The pause suggests investors are waiting for clarity on earnings growth or a correction large enough to re-engage.

ReadingThe talent acquisition suggests Okapi believes the proxy contest market is expanding. ISS departures to activist firms typically precede upticks in contested governance battles.

ReadingWhen legacy food companies cut dividends in this interest rate environment, it is not about struggle. It is about repositioning return mechanics. Watch the company's next earnings call for guidance on adjusted margins.

ReadingPE's bet on founder networking platforms suggests confidence that high-net-worth individuals will continue to consolidate deal flow through private networks. Public markets lose the ability to price discovery first.