Computing power offers efficient leverage that Hoover Institution historian Stephen Kotkin argues the US has against China, with the US dominating world’s compute capacity at 75 to 80 per cent. In a keynote address to the Fiduciary Investors Symposium at Stanford University, Kotkin also examined how Nvidia's Jensen Huang could become the central actor reshaping that balance.
John Toomey, chief executive officer of Boston-based HarbourVest Partners shares his observations of investment opportunities in Europe where the availability of capital, skill and risk appetite still pales compared to the US.
Many asset owners are hesitant to invest fiduciary capital into cryptocurrencies due to their perceived volatility and uncertain fundamentals, but Australian pension fund AMP Super, which has bought into Bitcoin via its DAA program, argued that they could be an emerging store-of-value asset comparable to gold.
Private asset managers can expect to work harder for LP capital as allocators increasingly look for more bespoke, flexible structures that meet their changing needs around liquidity, fee and types of exposures. Investors at FIS Oxford unpack how they approach manager relationships in the new era of private investments.
Aziz Hamzaogullari, chief investment officer of growth equity strategies at Loomis Sayles, has urged active investors to focus on long-term consumer and enterprise demands, warning that chasing short-term market moods and toggling between “risk-on” and “risk-off” positions is ultimately a “loser’s game”.
Tristram Leach, the London-based head of investments at Apollo, said a lack of integration among the fragmented European regulatory and market structures is making it harder for investors to deploy in the region. He warned that, without deeper coordination, Europe risks missing out on the global capital rotation.
The risk of litigation and liquidity concerns mean America's 401(k) funds won't venture into private markets for five to 10 years, said T. Rowe Price's Michael Davis, speaking at FIS Oxford. But he said legislation has played a powerful role in shaping the US retirement industry.
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FIS 2026 at Stanford University