Investing in 2026: should liquid or illiquid strategies take priority?

In an environment characterized by persistently higher interest rates, ongoing geopolitical volatility, and more selective financial markets, 2026 stands out as a major strategic turning point for investors . Should they prioritize the liquidity and flexibility of listed markets, or continue to capture the illiquidity premiums offered by unlisted markets?

This Khiplace meeting offers an in-depth analysis of current performance drivers , comparing liquid and non-liquid strategies in light of the real needs of institutional and private investors: return, resilience, diversification and risk management.

Why does High Yield management via CDS indices show such sustained outperformance?

What roles do CLOs, bank subordinated debt, or emerging market debt play today in a diversified liquid allocation?

In contrast to these, do unlisted strategies — private debt buyouts, secondary funds, real asset financing, infrastructure — still offer a superior risk/return profile, or are we witnessing a normalization of premiums?

Through market analyses, feedback…