BONUS: Future Standard President & CIO Mike Kelly

The evolution of private credit and the democratization of alternative investments represent a fundamental shift in portfolio construction for individual and institutional investors. As traditional 60/40 portfolios face challenges from changing macroeconomic conditions and market structures, private market strategies offer essential diversification and income generation. Mike Kelly, President and Chief Investment Officer of Future Standard, highlights the transition of private credit from a niche institutional asset class to a critical component for the wealth channel, driven by the withdrawal of traditional banks from middle-market lending. Success in this landscape requires rigorous re-underwriting of positions, a focus on variant perception, and the ability to adapt to shifting economic cycles. Ultimately, the integration of private credit, real assets, and infrastructure into broader investment frameworks provides a more robust defense against volatility and inflation than reliance on public markets alone.