
Hosted by Future Standard · EN
Can we talk in private? brings you behind the scenes with Future Standard’s Investment Research team and experts shaping the conversation. Each episode explores the trends, risks and opportunities impacting private markets, delivering practical insights you can put to work.
This information is educational in nature and does not constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. Future Standard is not adopting, making a recommendation for or endorsing any investment strategy or particular security. All views, opinions and positions expressed herein are that of the author and do not necessarily reflect the views, opinions or positions of Future Standard. Interviews, including interviewee responses, are not intended to produce or solicit an endorsement of Future Standard or its products. All opinions are subject to change without notice, and you should always obtain current information and perform due diligence before participating in any investment. Future Standard does not provide legal or tax advice and the information herein should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact any investment result. Future Standard cannot guarantee that the information herein is accurate, complete, or timely. Future Standard makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.Any projections, forecasts and estimates contained herein are based upon certain assumptions that the author considers reasonable. Projections are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results. The inclusion of projections herein should not be regarded as a representation or guarantee regarding the reliability, accuracy or completeness of the information contained herein, and neither Future Standard nor the author are under any obligation to update or keep current such information. All investing is subject to risk, including the possible loss of the money you invest.

In the first episode of Can We Talk in Private?, the new podcast from Future Standard, hosts Alan Flannigan and Andrew Korz sit down with Future Standard Chief Investment Officer Mike Kelly to share their views on the major themes driving private markets. They explore how the changing macro regime is reshaping the role of asset allocators, driving the importance of portfolio construction higher. Defining trends from the start of the year remain in focus. Capital concentration and increased geopolitical uncertainty continue reshaping the opportunity set—driving value outside the large and mega-cap segments. And what happens when software, private equity and private credit’s long-favored industry, now faces a constant threat from AI? Where does this money go instead? The obvious answer is AI, but the playbook for success looks very different. For the first time, they provide their outlook on digital infrastructure, a rapidly growing collective of themes supporting the AI build-out and more.As CIO Mike Kelly discusses, the path ahead in the second half is compelling but demanding. In a market focused on innovation and building the future, the discipline to remain focused on investor objectives and portfolio resilience are critical. As AI eats the world, truly differentiated sources of growth and income outside concentrated themes are increasingly valuable for investor portfolios. For actionable insights, enjoy the first episode of Can we talk in private?.Have a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

In this episode, Future Standard’s Investment Research team members Alan Flannigan and Andrew Korz break down their latest publication, Q2 2026 Mapping the Markets: Shock and Awe, a quarterly macro and cross-asset chartbook illustrating the current state of markets. Key takeawaysSupply-side shocks are occurring more frequently and driving persistent inflation volatility.AI CapEx is powering equity markets but also increasing concentration risk.Stock-bond correlation has risen, weakening traditional diversification.Dispersion across and within asset classes is creating opportunities for active management.Private market returns are increasingly driven by revenue growth, not multiple expansion.Diversification now requires deeper strategy selection, not just asset allocation.Have a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

In this episode, Future Standard’s Investment Research team members Alan Flannigan and Andrew Korz sit down with Scott Burr, Senior Portfolio Manager at Future Standard, to discuss how multi-strategy investing may help investors navigate a changing macro regime.Scott also shares how his liquid alternatives approach blends diversification with conviction, the role of liquid alternatives play alongside private markets, and how strategies go from idea to execution.Have a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

In this episode, Future Standard’s Investment Research team members Alan Flannigan and Andrew Korz unpack the key themes from their Q2 2026 U.S. Economic Outlook, Sturdy, Under Strain. They examine the state of the U.S. economy entering the conflict in the Middle East, discuss the long-term implications of a shifting global landscape, and provide views on the most pressing macro themes in Q2.The episode also features a discussion with Jason Cole, Head of Public Policy at Future Standard, who provides on-the-ground perspective on the Iran conflict, evolving tariff authorities, and Federal Reserve leadership changes.Q2 2026 Economic outlook: https://www.futurestandard.com/insights/report/q2-2026-us-economic-outlook-sturdy-under-strainHave a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

In this episode, Future Standard’s Investment Research team members, Alan Flannigan and Andrew Korz, are joined by Rob Hoffman, Head of Credit Solutions, for a data‑driven look at what’s really happening in private credit right now. They unpack the biggest headline concerns—PIK usage, redemption activity and gates, bank financing, defaults, software exposure and valuations—and explain how structure, lender protections and income durability shape outcomes across cycles. The discussion cuts through noise to highlight where selectivity, entry discipline and manager skill can matter most for investors navigating today’s market.Have a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

Private markets are entering 2026 at a pivotal moment. After years defined by inflation, rate volatility and compressed liquidity, investors now confront a landscape where opportunity is expanding — but not evenly. In this episode of the Future Standard Podcast, we explore why the year ahead represents an inflection point, how capital concentration is reshaping private markets and why the middle market remains a durable source value creation.Our 2026 Outlook, Forged, Not Found, argues that the next cycle won’t reward passive allocation to private market beta. Returns will be built through specialization, operational intensity and by addressing the market’s most pressing risks through real diversification, not diversification in name only.Download the full outlook: https://www.futurestandard.com/insights/private-markets-outlook/forged-not-found-selectivity-shapes-outcomes-as-momentum-buildsHave a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

In a new episode, Greg Toskos (Managing Director, Head National Sales, UBS Global Wealth Management) joins Co-Heads of Global Wealth Kirsten Pickens and Ryan Robertson.For more research insights go to https://futurestandard.com/insightsHave a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

In the finale of our Private Markets Outlook series, we sit down with Co-President and Chief Investment Officer Mike Kelly for an in-depth look into the new investing imperative in private markets. Mike joins Research team members Alan Flannigan and Andrew Korz to explore the shift from disinflation and low rates to today’s environment of volatility, inflation and uncertainty. He gives insights into how private markets offer new opportunities for growth, diversification and operational value creation—especially in the U.S. middle market. The Private Markets Outlook podcast series from Future Standard features special guests and portfolio managers from across our firm, each bringing unique perspectives on private equity, private credit and real estate. Get more private markets insights at futurestandard.com/insights <Related insights> Follow the value, not the herd: The new private markets imperative Q4 U.S. economic outlook: Artificial intelligence, real economic impact U.S. exceptionalism at a crossroads Have a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

In this episode of the Private Markets Outlook series, we sit down with Scott Giardina, Managing Director and Head of Trading for Future Standard’s Global Credit Team, for an in-depth look at the current state of private credit.Scott joins Research team members Alan Flannigan and Andrew Korz to discuss the benefit of specialization in private credit, why lender protections matter more than ever and what it means for investors.The Private Markets Outlook podcast series from Future Standard features portfolio managers from across our firm, each bringing unique perspectives on private equity, private credit and real estate. Subscribe and stay tuned for more.<Related insights>Follow the value, not the herd: The new private markets imperative Q4 U.S. economic outlook: Artificial intelligence, real economic impact U.S. exceptionalism at a crossroadsHave a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights

What’s next for private equity? We continue our Private Markets Outlook series with a discussion featuring Jorge Rossello, Managing Director, LP Secondaries. He joins Research team members Andrew Korz and Alan Flannigan to explore how private equity investors are navigating a shifting landscape. The Private Markets Outlook podcast series from Future Standard features special guests and portfolio managers from across our firm, each bringing unique perspectives on private equity, private credit and real estate. Subscribe and stay tuned for more. Related:Follow the value, not the herd: The new private markets imperative U.S. exceptionalism: At a crossroadsHave a question for our experts? Text us for a chance to have your questions answered on the next episode.For more research insights go to https://futurestandard.com/insights