From our friends at iCapital, a cautiously optimistic Q2 outlook acknowledging challenges like inflation and market volatility while underscoring economic growth and central bank support. Private companies dominate the U.S. market, with private equity and credit projected to yield higher returns than public stocks and bonds. Private credit shows consistent performance and minimal impact from market fluctuations over the past 20 years with opportunities emerging in managing the risk premium, complexity, and market inefficiencies.