The New Dynamics of Private Markets with Josh Lerner

11/15/22 • 27 min

The Canada Pension Plan has prospered by investing in alternative markets such as private equity and debt, becoming a model for institutional investors around the world. Today, global pools of private capital stand at over $12 trillion, doubling in just six years.

In this episode, PGIM COO Taimur Hyat and economist Josh Lerner from Harvard Business School offer unique perspectives into the factors driving growth in private markets, current investment opportunities, and the outlook for private markets as interest rates rise.

Previous Episode

The Future of the Energy Transition with Tom Steyer

The transition from fossil fuels to renewable energy has created opportunities to invest in a broad array of green technologies. However, this evolution will be decades in the making with plenty of twists along the way. As the emergence of green energy takes shape, how can investors tap into renewables as well as underinvested corners of the traditional energy sector? In this episode, environmental activist and investor Tom Steyer, the Oxford Institute for Energy Studies’ James Henderson, and PGIM Private Capital’s Brian Thomas discuss the portfolio implications and challenges associated with the energy transition.

Next Episode

Tail Risks and Protecting Against the Unknown

Investors are challenged to mitigate the impact of a variety of risks, from rising inflation to a global economic downturn. What about the risks that are harder to imagine? Recent events such as the pandemic and the war in Ukraine have altered the investment outlook in significant ways, turning a spotlight on the potential for new tail risks that may be on the horizon.

In this episode, author and UC Berkeley lecturer Kevin Coldiron and Columbia Business School professor Laura Veldkamp discuss recent liquidity crises, portfolio strategies for managing tail risks, and why tighter monetary policies could expose cracks in the financial system.

For more on this topic, PGIM’s 2022 Global Risk Report analyzes the results of our tail-risk survey, which canvassed 400 senior decision-makers whose firms have a combined AUM of more than $12 trillion.