Where to Find Opportunities in a Shifting Economic Landscape?

Public equities are near all-time highs. By most accounts, portfolios look healthy. But beneath the surface, the foundation supporting those returns has weakened as risk compensation has thinned, concentration has intensified and traditional diversification is no longer working the way it used to. For investors who held through the recent turbulence, this may be a rare opportunity to reassess portfolio allocations before the market forces action.

Credit markets are entering a period of transition. At Apollo’s 2026 Credit Annual Meeting, partners across the firm discussed the technological disruption, refinancing pressure from higher rates and geopolitical uncertainty that are beginning to drive greater dispersion across sectors, borrowers and capital structures.

As private equity evolves and advantages in the middle market become less reliable, scale, specialization and portfolio construction are becoming key drivers of performance in a more competitive environment.