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?.

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