The Pulse: February 4, 2026 Edition
INSIDE THIS ISSUE OF THE PULSE
What’s shaping private markets, capital flows, and infrastructure demands.
- THE RESEARCH DEFINING PRIVATE MARKETS’ NEXT CHAPTER
- 2026 PREVIEW: NEW TEAMS, PLATFORMS, & STRATEGIES
- SECONDARIES MOMENTUM FROM 2025 INTO 2026
- DATA CENTERS: THE PHYSICAL BACKBONE OF THE DIGITAL ECONOMY
THE RESEARCH DEFINING PRIVATE MARKETS’ NEXT CHAPTER
Alts remain lagging way behind desired allocations – only 9% of eligible advisory clients currently hold them, despite growing demand.
Why leading advisors no longer see private markets as riskier than public – plus 2026 predictions.
Preqin’s forecasts $19.5T from private credit, private equity, and infrastructure AUM growth by 2030, driven by wealth democratization, exit pressure, and rate environment.
- Preqin
2026 PREVIEW: NEW TEAMS, PLATFORMS, & STRATEGIES
J.P. Morgan launches a dedicated private markets team as private capital funding increasingly replaces IPOs.
- WSJ
BlackRock expands and centralizes private markets platform and team to serve sponsors – identifying six trends for 2026 – from infrastructure projects to portfolio diversification.
Private markets move from “alternative” to core allocation as liquidity and portfolio management demands rise.
SEI highlights three trends shaping wealth and asset management in 2026: ETF expansion, alternative ecosystem buildout, and model-based solutions.
SECONDARIES MOMENTUM FROM 2025 INTO 2026
2025 hit $240 billion in 2025, fueled by institutional, retail, and insurance capital.
Liquidity demand is outpacing supply – and the capital gap is rising.
Monserrat Serra Janer from JP Morgan sees continued power shift from GPs to LPs and fewer distinctions across private market participants.
Secondaries growth is durable following 2025’s breakout year.
DATA CENTERS: THE PHYSICAL BACKBONE OF THE DIGITAL ECONOMY
Why AI, cloud, and edge computing are accelerating global data center demand heading into 2026.
Millions in ad spending aim to shape how communities perceive data center development.
- Grist
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