top of page
INVESTMENT PLATFORM
INVESTMENT PLATFORM
INSIGHTS
Search
Blended Finance: From Labels to Impact
The structure exists. The public money is in the wrong layer. In Part III, we argued that the label does not reliably reflect the impact, nor does the price reflect the risk and that the fix is therefore not a better score but a better structure. Blended finance is that structure. SUSTAINABLE INVESTING INSIGHT SERIES | PART IV | OCTOBER 2026 Blended finance has mobilised some $213 billion in total deal volume since it was first codified. Across developing countries, each
Oct 49 min read
Africa: Leading the Green Energy Transition
Africa has recognised the green transition as the route to closing its electricity production and distribution deficit. What three days at the Côte d'Ivoire Power & Electricity Expo revealed about where capital is, and isn't. SUSTAINABLE INVESTING & GREEN FINANCE INSIGHT SERIES | PART III | SEPTEMBER 2026 📍 News from the Ground: Côte d'Ivoire Power & Electricity Expo 2026 The second Côte d'Ivoire Power & Electricity Expo was held at the Parc des Expositions in Abidjan on
Oct 16 min read
Carbon Assets as Portfolio Diversifiers
A 2026 Update: Beyond ESG Labels. Where Market Prices Signal Environmental Value In Part I of this series, we documented the fundamental failure of ESG ratings: the industry's inability to agree on what sustainability means, how to measure it, or how to verify it. Carbon markets offer something different and, in sustainable investing, genuinely valuable: a price signal. SUSTAINABLE INVESTING INSIGHT SERIES | PART II | SEPTEMBER 2026 Beyond ESG Labels, where Market Prices
Sep 189 min read
The ESG Labelling Method: A Structural Failure.
A remarkable paradox lies at the heart of sustainable investing in 2026. The asset class has never attracted more capital; global ESG-labelled assets under management now exceed $40 trillion. Yet the label has never been less informative. The regulatory ground has shifted dramatically. But the stakes have not. While reporting requirements have been simplified in some jurisdictions, the legal and commercial consequences of ESG failures are, if anything, expanding. Greenwashing
Sep 178 min read
Sustainable Investing in 2026: A Legitimate Conviction With a Measurement Problem
SUSTAINABLE INVESTING & GREEN FINANCE INSIGHT SERIES — August 2026 At the Market Group DACH Retreat earlier this year, I attended a panel discussion on sustainable investing and impact. The session was well-run, the panellists articulate, and the conviction genuine. At the end, I raised my hand. I said: Before this panel, I was confused about the definition of sustainable investing. After hearing you, I am even more confused. Everyone defines ESG and sustainability according
Sep 35 min read
The Macro Confluence Insight Series: Complete Edition, April/May 2026
The complete Alfinas Macro Confluence Insight Series is now available for download. This edition includes: → Why April 2026 Changed Everything → Part I:The Oil Price Shock Playbook → Part II: Stagflation or Slowflation? → Part III: Beyond Borders → Part IV: Asset Allocation Reboot → The Alfinas Model Portfolio Scenario Analysis Q2-Q4 2026 16 pages. Updated monthly. 📄 Download the complete Macro Confluence Insight Series , 16 pages including the Alfinas Model Portfolio
May 101 min read
The Macro Confluence: Asset Allocation Reboot
A Practical Repositioning Framework for Professional Investors Part IV of the Macro Confluence Insight Series — Asset Allocation Reboot - April 2026 April 2026 has delivered exactly the macro environment that was always a tail risk but never fully priced: an oil supply shock of historic proportions, tariff-driven inflation that refuses to retreat, a Federal Reserve caught between growth and price stability, and geopolitical insecurity that is rewriting the rules of global
May 103 min read
The Macro Confluence: The Alfinas Model Portfolio
Scenario Analysis Q2-Q4 2026: How Our Recommended Allocation Performs Across Three Macro Scenarios The Macro Confluence Insight Series: Part IV, Asset Allocation Reboot- Model Portfolio May 2026 Scenario Analysis Recommendations are only meaningful when tested against a range of outcomes, not just the base case. As a companion analysis to our Macro Confluence Part IV , Asset Allocation Reboot, Alfinas has developed a theoretical model portfolio for Q2-Q4 2026, stress-tested
May 102 min read
The Macro Confluence: Beyond Borders
Asset Allocation in a Geopolitically Fragmented World Part III of the Macro Confluence Insight Series. Beyond Borders, April 2026 Something fundamental has changed in the architecture of the global economy — and most investment frameworks have not yet caught up. For three decades following the end of the Cold War, the dominant assumption in global asset allocation was convergence: trade would expand, capital would flow freely, and geopolitical tensions would be mediated throu
May 93 min read
The Macro Confluence: Stagflation or Slowflation?
The 2026 Inflation Dilemma and What It Means for Your Portfolio Part II of the Macro Confluence Insight Series : Stagflation or Slowflation? - April 2026 The word nobody wanted to hear is back. Stagflation, the toxic combination of stagnant growth and persistent inflation is once again being discussed in central banks, investment committees and macro strategy meetings. Whether 2026 ultimately delivers a full stagflationary episode or something more benign, a slowflation of
May 93 min read
The Macro Confluence: The Oil Price Shock Playbook
What the Strait of Hormuz Crisis Means for Institutional Portfolio Part I of the Macro Confluence Insight Series . The Oil Shock , April 2026 The Strait of Hormuz is one of the world's most critical energy chokepoints a narrow passage through which approximately 20% of global oil and LNG flows every day. In early 2026, that passage became a flashpoint. The consequences are now reverberating through commodity markets, central bank deliberations, and institutional portfolios w
May 93 min read
Private Credit’s Growing Portfolio Utility & Importance
Insights from The Market Group DACH Investors Retreat 2026 | Bad Wörishofen, Bavaria When the asset class that has outperformed public markets is itself put to the test, what does its growing portfolio utility actually look like — and what are the opaque risks investors must understand before they allocate? The Market Group DACH Investors Retreat, hosted at the Steigenberger Hotel Der Sonnenhof in Bad Wörishofen, Bavaria, from May 4th to May 6th, 2026, brought together insti
May 75 min read
Should I Stay or Should I Go? Evergreen Funds, GP-Led Secondaries and Where the Real Alpha Lies.
Insights from Alpha Edge Europe — Private Markets, London The debate around Evergreen funds and GP-led secondaries is reaching a critical inflection point. As gates activate, valuations come under scrutiny, and Moody's downgrades an entire sector, the structural questions can no longer be deferred. Recently, Marie-Laure Mikkelsen, Founding Partner of Alfinas Alternative Investment Advisers, joined the panel "Should I Stay or Should I Go?" at Institutional Investor's Alpha Edg
Apr 302 min read
The Macro Confluence: Why April 2026 Changed Everything
Introducing the Alfinas Macro Confluence Series — Oil Shock, Sticky Inflation, Geopolitical Insecurity and Portfolio Resilience Part I of the Macro Confluence Insight Series — April 2026 There are moments in markets when several structural forces converge simultaneously — and the environment shifts not incrementally, but categorically. April 2026 is one of those moments. The Strait of Hormuz crisis has sent Brent crude to $103-115 per barrel. The Trump administration's tar
Apr 293 min read
The Quiet Storm — Part II: The Storm Breaks
From Moody's Downgrade to Sector-Wide Exodus: The Private Credit Reckoning Deepens 🚨 Since our March 2026 analysis: Moody's has downgraded the entire $400bn BDC sector to NEGATIVE. Blue Owl faces 41% redemption requests. The sector has recorded its first-ever net outflow. And new XA Investments data confirms the pivot began silently in Q4 2025. In March 2026, we published Part I of The Quiet Storm — a structural analysis of the liquidity squeeze building beneath the surface
Apr 283 min read
When Moody's Speaks
What the FS KKR Downgrade Means for Investors and Fund Managers Part I of the Private Debt Insight Series : T he Quiet Storm II — Following the Moody's Junk Downgrade of FS KKR Capital Corp 🚨 BREAKING: Moody's has downgraded FS KKR Capital Corp to junk status following non-accruals reaching 5.5% on cost basis — nearly 50% above the long-term industry average of 3.8%. The Quiet Storm just got louder. When I published Part I of this analysis — "Understanding the Liquidity Sque
Mar 286 min read
The Quiet Storm: Understanding the Liquidity Squeeze in Private Debt
Part I of the Private Debt Insight Series — March 2026 For much of the last decade, private debt was the darling of institutional investors. Attractive yields, low correlation to public markets, and consistent deal flow made it a cornerstone of alternative portfolios worldwide. But beneath the surface of this booming asset class, a structural vulnerability has been building — one that is now beginning to reveal itself in the form of a liquidity squeeze, What Is a Liquidity S
Mar 265 min read
Private Credit: The Ticking Time Bomb Inside "Evergreen" Funds?
INVESTMENT RESEARCH- INSIGHT SERIES Private Debt — March 2026 There is a quiet panic spreading through the carpeted corridors of private banks and family offices — those who distributed Evergreen funds from Blackstone, BlackRock and Blue Owl to their wealthy clients. Blackstone. BlackRock. Blue Owl. The giants of Private Credit are facing record redemption requests — and some are already closing the gate. We were sold the democratisation of the most attractive asset class
Mar 222 min read
Private Market Selection: Why Secondaries and Private Debt Lead the Way in 2026
The private markets landscape is undergoing a fundamental shift. As traditional exit routes remain congested and interest rate environments stabilize at higher levels, asset allocators are being forced to rethink their approach to illiquidity. Insight from the Citywire Private Markets DACH Retreat Munich 2025 Recently, Citywire Switzerland sat down with Dr. Marie-Laure Mikkelsen, founding partner of Alfinas Alternative Investment Partners, during the Citywire DAC
Jan 114 min read
State of Play 2025: The Great Real Assets Reshuffle
What is the landscape for real assets (real estate and infrastructure) in 2025? Amid high interest rates, geopolitical tensions, and the energy transition, investors are navigating troubled waters, but lucrative opportunities are surfacing for adaptive players. "State of the Industry: Real Assets in 2025and Beyond" Panel Discussion Insight from The 9th Annual Switzerland Institutional Forum | MarketsGroup A profound shift is underway in institutional portfolios. Recent re
Oct 7, 20255 min read
© 2025 BY ALFINAS CONSULTING LTD ALL RIGHTS RESERVED.
MENU
bottom of page