A10 Capital: A New Digital Front

Digital presence should match the platform behind it.

A10 Capital's website no longer reflected the firm's caliber. The site had grown dated, with a structure and navigation that no longer matched the sophistication of the brokers, intermediaries, and capital partners the firm engages daily.

See how we updated A10's website and strengthened its institutional presence.

OpenAI: When Capital Outpaces Clarity

The largest round in history could not buy clarity.

OpenAI just closed an oversubscribed round at an $852 billion valuation. In the same week, three of its earliest backers questioned whether anyone can still describe what the company is.

The gap between those two facts is where allocators are starting to price risk, and it applies to any GP raising on a strategy that has outgrown its original mandate.

Read the full piece below.

Banking: Where Capital Flows

The fastest-growing loan book finances other lenders.

The largest US banks just posted record trading numbers and strong loan growth in the same quarter. The easy "trading versus lending" read misses the actual story. The fastest-growing parts of both businesses are flowing in the same direction, toward private credit funds, hedge funds, and the rest of the buy side.

The implications for fund finance pricing, prime brokerage capacity, and counterparty risk are about to start showing up in LP diligence questions.

Read the full analysis below.

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