June 10, 2026
What's inside GEM's 2025 Impact Report:
The pace of AI's advancement over the past year has been extraordinary, reshaping nearly every sector of the global economy. It carries meaningful potential to improve outcomes for people and the planet, yet it also introduces new risks to the environment, the workforce, and data privacy. This year's report, Promise & Precaution, examines that duality and offers insight into how GEM is navigating it on behalf of our clients.
We believe the lower middle market remains one of private equity’s most durable and least crowded sources of outperformance. In our latest research report, we examine the data behind our thesis and explain why we think disciplined manager selection creates a distinct edge.
In this mid-year follow-up to our 2026 Outlook, we revisit the four themes shaping this year's markets—AI's debt-financed buildout, accelerating private market access, biotech's continued momentum, and a slowly healing real estate market—and take stock of what's playing out as anticipated and what isn’t.
Three years after our last Investment Policy review, the regime has shifted: higher rates, sticky inflation, and a positive stock-bond correlation. In this conversation, GEM’s CIO Matt Bank revisits not just capital market assumptions but the framework itself, from methodology to implementation and risk management.
Let’s start a conversation about how we can help.
