Larry Rothman

As record keepers become increasingly concentrated, smaller players may find themselves squeezed out.

The largest corporate pension plans have seen funding ratio improvements over the last several years.

Institutional investors remain committed to private credit, despite softer returns.

U.S. institutional investors continue to show an appetite for private credit — with $11.7 billion in new mandates through May 6 — even as concerns mount about AI's impact on software companies and retail investor redemptions from business development companies.

Core-plus real estate funds outperformed core funds over the last 10 and 20 years, delivering higher returns to large U.S. pension plans. But that advantage vanished during the Great Recession, exposing a vulnerability to severe economic downturns that could resurface if market conditions deteriorate.

Defined contribution plan participants face outsized exposure to a potential semiconductor correction, with the chip industry now comprising 18% of the S&P 500 — its largest weighting of any sector — while trading at price-to-earnings ratios nearly triple the broader market.

U.S. corporate pension plans have seen funding ratios improve over the years.

Artificial intelligence companies’ escalating market values accounts for an increasing portion of the U.S. venture capital market.

U.S. small-cap stocks have delivered their strongest performance in years, but many defined contribution plan participants can’t capitalize on the rally.

Private energy funds could increase dealmaking.