Callan projects that major asset classes will have a lower return over the next decade.
Large financial institutions, which have had stronger capital requirements in the wake of the Great Recession, appear in better shape.
Twitter counts large institutions as significant shareholders.
Private debt funds had a large fundraising year, but the asset class could face headwinds from rising interest rates and geopolitical concerns.
The amount invested in late-stage venture capital deals grew in 2021, but investors received a lower percentage of the firm being acquired.