ASC Advisors February 2026 Newsletter
ASC Advisors February Newsletter
Welcome to ASC Advisors’ monthly newsletter, where we provide thoughts around recent developments or factors affecting the alternative investment management industry as well as provide updates on our firm and team.
13th Annual Media Memo
Earlier this month, we released our 13th annual media memo highlighting the latest moves and trends we are seeing from journalists covering the alternative investment industry as well as an outlook for 2026. It has been a particularly busy year with significant changes at Bloomberg, The Financial Times, and The Wall Street Journal. To see more media moves at top publications and trades, contact us for the full report.
Select 2025 Media Moves
Key reporter moves in 2025 included:
• Bloomberg Activism reporter Crystal Tse’s move to London to focus on Europe deals.
• The FT saw Brooke Masters promoted to U.S. Managing Editor, Antoine Gara named U.S. PE and Deals Editor and Amelia Pollard pick up activism and deals in addition to covering hedge funds.
• Arleen Jacobius, long-time PE reporter at Pensions & Investments, announced her retirement. Ryan Prete took over covering Private Equity for the publication.
Key Topics from 2025
Artificial Intelligence Use for Managers
2025 marked AI’s shift from a headline trend to a real driver of strategy and capital allocation. Wall Street became the enabler of America’s artificial intelligence boom, as hedge funds, private equity, private credit, real estate and venture capital increased spending on AI infrastructure, automation and analytics in an effort to stay ahead of the curve and keep up with rapidly evolving capabilities.
Regulatory Environment & Impact of the Trump Admin on Alts
In 2025, the Trump administration created a more favorable regulatory environment for alternative investment firms. Specifically, the SEC and other regulators cut back on enforcement, as part of a deregulatory posture and efforts to broaden the investor base.
Tariffs and Market Volatility
In 2025, the Trump administration’s renewed use of tariffs became a major driver of stock-market volatility. Markets reacted to both the initial announcement of tariff rates on ‘Liberation Day’ in April, as well as during subsequent escalations and reductions throughout the year.
Return of the M&A Market for PE, PC and VC
M&A activity rebounded in the second half of 2025 after a two-year downturn and a slower-than-expected start to 2025 following optimism with the incoming administration. Private equity and VC backed acquisitions hit a record combined value of ~$311 billion, with 22 megadeals valued at $5 billion or more. Buyouts globally reached $1.1 trillion, up 51% from last year and IPO volumes and proceeds grew 20% and 84% in 2025.
Geopolitics and Global Investing
Geopolitics played a large role in shaping investment decisions in 2025. In early 2025, some global investors were betting on an end to the war in Ukraine. In August, investors watched closely as President Trump met with Russia's Vladimir Putin in Alaska to seal a possible ceasefire agreement but that quickly fizzled out and the war continues today. Then in December, EU leaders agreed to raise a €90 billion loan to support Ukraine rather than tapping frozen Russian assets, a move investors largely welcomed as a safer option that avoids undermining confidence in European sovereign debt.
Looking Ahead
We expect media to remain focused on many of the same areas as in 2025, including:
· Fed independence and approach to fiscal policy and the eventual confirmation of Kevin Warsh as Fed Chairman;
· Tariffs, global trade landscape and the resulting impacts;
· Continued strengthening of M&A activity across public companies, private equity and venture space;
· Is this an AI bubble? How does the tech market and AI hyperscalers evolve as AI’s real-world applications expand;
· Where do digital assets go from here and are there more regulatory changes coming to increase adoption;
· Global geopolitical tension, ongoing war and peace;
· Continuation of Fund inflows to record levels, launches, and closures.
If you are interested in reading the entire report or discussing these media changes and topics of focus, please let us know. We look forward to hearing from you.
ASC Advisors in February
This month the firm’s South Florida team was out and about, attending key conferences in the alternative investment management space. Partner, Keely Gispan, participated in Uncorrelated Alts Miami 2026, where speakers covered the current state of alternatives, providing insights on where the momentum is emerging across alternatives and why this market increasingly rewards long-term thinking and differentiated strategies. Managing Director, Max Rayden, represented the firm at The Wall Street Journal's inaugural WSJ Invest Live event where conference participants underscored the financial renaissance taking place in the region.
