January 27, 2026
2026 Outlook: The Market’s Reprise
As markets move deeper into a new cycle defined by capital intensity, dispersion, and structural change, investors face a familiar challenge: understanding how to separate signal from noise as conditions evolve. GEM’s 2026 Outlook examines the forces reshaping today’s investment landscape and explores how those themes are actively influencing our team’s allocation tactics and positioning for the year ahead.
In our 2026 Outlook, the GEM team explores the key forces driving today’s evolving market cycle, from AI-led capital spending to shifting dynamics in private markets, biotech, and real estate, and what they mean for positioning in the year ahead.
In this edition of The Long View, Co-CIO Matt Bank explains why managing risk with structure, discipline, and flexibility is essential for long-term investors, and how GEM’s approach helps portfolios endure uncertainty.
In an interview with FundFire, GEM’s Co-CIO, Matt Bank, addresses critiques of the endowment model and explains why disciplined execution in private markets remains essential to long-term success.
Let’s start a conversation about how we can help.
