If 2025 was the year of turbulence, 2026 is shaping up to be one of stabilization. The past year brought big shifts, with a new administration constantly pulling economic levers and an artificial intelligence (AI)–driven boom reverberating through the power sector. The energy transition felt every tremor, but it held firm. Despite volatility ...

Javier Estrada’s latest research, Expected Stock Returns in Bullish Times, shines a spotlight on the mathematical drivers of stock returns — and why today’s market exuberance should be met with caution. By analyzing more than 150 years (1872–2024) of U.S. market data, Estrada decomposes annual returns into their primary sources: dividend yield, earnings growth, and price/earnings ratio movements. His findings reveal why ...

As U.S. electricity demand rises and technology companies seek to build more and larger data centers to drive artificial intelligence systems, the main question arising is how to generate all that power. According to the International Energy Agency, large-scale data centers around the world used about 460 terawatt-hours of electricity in 2022, a figure that analysts expect to continue rising years into the future. One potential solution being proposed is ...

The renewable energy sector is under pressure as 2026 unfolds, with a challenging administration in Washington, and a few industry miscues in the headlines, some made worse by government promotion or bungling. Indeed, in late 2025 the pundits amplified a new take on global warming embraced by Microsoft founder and philanthropist Bill Gates, to the effect that climate change is a concern, but manageable ...

Artificial intelligence and robotics are reshaping the real estate industry value chain, from design and construction to operations and usage patterns. This transformation represents an opportunity for investors seeking exposure to the convergence of technology and physical assets. AI is revolutionizing ...

A conventional data center uses between 5,000 and 15,000 tons of copper. A hyperscale data center, on the other hand — the kind being built to run artificial intelligence (AI) — can require up to 50,000 tons of copper per facility, according to the Copper Development Association. Think about that for a second. A single AI data center that ...

Jon Jones considers himself one of those unusual people who always knew what he wanted to do — either to play Major League Baseball (preferably for the Seattle Mariners) or start a financial advisory firm. He gave the former the old college try, playing collegiate ball at Washington State University, a first baseman in the field and a switch hitter at the plate, swinging the lumber for a combination of power and average — though, he says, “I didn’t break any records.” A bigger revelation occurred when ...

Over the past 20 years, private equity has generated average annual returns of about 13 percent net of fees, compared to 8 percent for public equities, according to Blackstone. That is one of the observations made in an article produced by the firm titled Rethinking the 60%.

Single-tenant net-lease retail properties (STNL) are a popular asset class for investors seeking to own commercial real estate without incurring substantial management responsibilities. In a triple-net lease, the tenant pays the taxes and insurance on the property as well as most maintenance fees, while the owner generally covers structure-related costs, such as ...

Josh Daitch, is CIO of investor solutions and investments at ESR: “Logistics companies prefer cities crammed with consumers, and while spending per capita is highest in the United States, Asia Pacific markets are growing at three to five times the pace.”

As energy use rises and the planet warms, you might have dreamed of an energy source that works 24/7, rain or shine, quietly powering homes, industries and even entire cities without the ups and downs of solar or wind — and with little contribution to climate change. The promise of new engineering techniques for geothermal energy (heat from the Earth itself) has attracted ...

The interval fund market — once hailed as a preferred gateway for retail investors to access institutional-quality private assets — is facing its most significant stress test yet. Recent months have seen redemption requests surge across leading managers, including Blackstone, Apollo, Harrison Street, Goldman Sachs, Union Square and Bluerock. The result? Oversubscribed withdrawal windows, growing exit queues and mounting investor frustration. At the heart of the issue lies ...

Two new data centers in Silicon Valley have been built but can’t begin processing information: The equipment that would supply them with electricity isn’t available. It’s one example of a crisis facing the U.S. power grid that can’t be solved simply by building more power lines, approving new power generation, or changing out grid software. The equipment needed to keep the grid running ...

When it comes to industrial real estate, institutional capital has long pursued the most visible, massive distribution centers lining America’s highways, anchored by household names such as Amazon, Walmart and others. But beneath this sector lies a $300 billion opportunity: shallow- and mid-bay industrial facilities. These neighborhood warehouses ...

An interview with Jaime Magyera, head of BlackRock’s U.S. Wealth and Retirement business.

Private real estate enters 2026 with renewed momentum, a healthier supply picture, and clearerseparation between sectors positioned for growth and those still recalibrating, according to Adam Liebman, executive director — investment strategist at Accordant.

Over the past three years, the real estate story told in the headlines has been almost entirely macro: Rates rose, cap rates followed, asset values reset, and transaction markets slowed. That picture is accurate enough, but it obscures something far more consequential for the private wealth community. While institutions absorbed markdowns and adjusted allocations, high-net-worth (accredited, often referred to as retail) investors lived through an entirely different cycle. Their experience was sharper, more personal, and in many cases ...

In the years following the COVID-19 pandemic, leading occupiers have been strategically rethinking their supply-chain operations in an effort to more effectively meet the sustained global demand for ecommerce products. A primary component of this new operational strategy, for firms such as Amazon, UPS, Walmart and others, is investing heavily in high-tech equipment and processes, including robotics, artificial intelligence (AI) and other forms of automation within their warehouse facilities. To support these modern requirements ...