Our investment sourcing draws on relationships with investment professionals, operating partners and local market participants. We evaluate opportunities based on their investment merits, risks and fit with the relevant mandate. The availability of any particular investment or co-investment opportunity is not assured.

All investments involve risks, including the possible loss of some or all invested capital. This applies to the specialty finance, buyout, special situations, private equity, co-investment and real estate strategies described on this page. Investment objectives may not be achieved, and no investment strategy guarantees a return or preservation of capital.

Depending on the strategy, investments may be affected by market and economic conditions, interest rates, financing availability, counterparty performance, concentration, and changes in laws or regulations. International investments may also involve currency, political and jurisdictional risks. Borrowing can magnify losses. Private investments may be difficult to value or sell, require a long holding period, and restrict access to invested capital. Fees and expenses reduce investment returns.

Specialty finance investments may involve borrower defaults, inadequate collateral, servicing failures and fraud. Buyouts, private equity and special situations may involve financial distress, business and execution risks, dependence on management and operating partners, and uncertainty regarding refinancing or exit opportunities. Operational involvement and investment structuring do not assure successful outcomes.

Real estate investments may be affected by declining property values, vacancies, tenant defaults, changes in demand, construction delays and cost overruns, environmental liabilities, uninsured losses, and increased operating or financing costs. Past performance does not guarantee future results. Diversification, active management and other risk-management measures do not ensure a profit or prevent loss. Investment and co-investment opportunities are subject to availability, eligibility and applicable allocation policies; access is not assured. These risks are not exhaustive. The risks, fees, conflicts and restrictions applicable to a particular investment or advisory relationship are described in its relevant offering and disclosure documents.