White Papers
Check out our recent thought leadership reports on key issues in the alternative investment industry
Commercial aircraft and engine lease Asset-Backed Securitization (ABS) has been a feature of aviation finance for over 30 years. Originating in the early 1990’s and adapting and evolving along with disruptions to the world economy and enhanced sophistication of issuers and financiers alike, Aviation ABS has proven a durable investment class.
The Manager Survey
Insights from the C-Suite of Alternative Investment Funds
Phoenix American, on an ongoing basis, conducts a survey of alternative investment fund managers as a means of constructing a useful picture of the private fund industry as a whole. The goal is to characterize the overall landscape of the industry and to foster a conversation both among industry participants and with the larger investment community. With the Manager Survey, we hope to shed light on what can seem to be an obscure and complex corner of the investment fund community.
2022 Trend Report for Alternative Investment Funds
Fund Operations and Strategy in Uncertain Economic Times
In today’s economic environment, with interest rates rising, high inflation and a technical recession having already begun, economists are talking about the US economy in terms of stagflation for the first time since the 1970’s. With July’s inflation rate running at 8.5% percent year over year, just off June’s 40-year high of 9.1%, the Federal Reserve has aggressively raised interested rates, four times in 2022.
2022 Trend Report for Commercial Real Estate
Uneven Recovery and Pandemic’s Lasting Effects
The U.S. economy and real estate markets are now reopening following the biggest economic shock in U.S. history. Employment is bouncing back, with new hiring ramping up over recent months and the unemployment rate falling. If the current pace of hiring keeps up, payroll jobs could return to their pre-pandemic peak by July 2022. The outlook, however, is far from certain. Covid-19 case numbers in the U.S. are declining from Omicron-driven highs at the time of this writing, but the possibility of new variants adds to ongoing uncertainty.
2021 Trend Report for Aviation ABS
A Portrait of Resilience, Stability and Future Growth
The aviation ABS market, rocked by the Covid-19 pandemic, faced a very uncertain future a few months ago. Few expected a quick return to the breakneck pace of issuances in 2019 and early 2020. But aviation ABS has bounced back with surprising strength. Throughout the pandemic-induced economic downturn and the precipitous decline in passenger traffic, the aviation ABS market has displayed remarkable resilience. Phoenix American and Joe O’Mara of KPMG in Ireland take an in-depth look.
Reg A+ Comes of Age
Industry Insights on Regulation A
Regulation A+ has finally arrived and fund sponsors are leveraging this dynamic new offering vehicle. In this paper the key industry players who participated in the first breakout Reg A+ offering share how they took an unfamiliar fund type financial advisors wouldn’t touch, and turned it into an efficient means of raising accredited and non-accredited investor capital. Kaplan Voekler, Red Oak Capital, Crescent Securities, Clir Capital and John Harrison of ADISA weigh in.
1031 Turns 100
Industry Insights on the DST Market
On the 100th anniversary of the like-kind exchange, 1031 Turns 100 examines the history, evolution and future of 1031 exchanges and DST investments. The paper analyzes the investors and sponsors involved in these investment programs. Industry data and perspectives from key DST sponsors and industry participants shed light on this dynamic real estate investment sector.
Multifamily & COVID-19
Federal Support, Rental Payments & Risk Outlook for 2020
With work-at-home procedures settling down and government policy supporting rental payments, the dimensions of the pandemic crisis have started to come into focus for multifamily real estate. Fund sponsors are looking at the risks ahead, the opportunities that have emerged and the overall prospects of the sector through the pandemic and beyond.
Venture Capital & COVID-19
The State of Fundraising, Historical Downturn Insights & Startup Trends
The COVID-19 pandemic is deeply affecting every aspect of business and personal life worldwide—and the venture capital industry is no exception. The economic fallout from the pandemic has been swift and extreme, with consequences ranging from widespread business shutdowns to historic levels of unemployment.
Commercial Real Estate & COVID-19
Winners, Losers & The Road Ahead
A strong beginning to 2020 became an unprecedented challenge for commercial real estate. Funds of every size and asset type have absorbed the shock of economic shutdowns across the United States. From this one cause, a variety of effects are emerging for real estate funds.
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