{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"AI, Defense, and a New Private Markets Playbook with Ash Lawrence","description":"Private markets are quietly being rewritten in real time\u2014and in this conversation, Ash Lawrence explains why AI, private credit, and defence could define who wins and who gets left behind in 2026. In this episode of Insight is Capital, host Pierre Daillie sits down with Ash Lawrence, Head of AGF Capital Partners, to unpack AGF Capital Partners\u2019 2026 - The Annual - Private Markets Outlook. Against a backdrop of geopolitical volatility, AI acceleration, shifting credit dynamics, and renewed defence spending, Lawrence lays out five structural themes reshaping private equity, private credit, and alternative investments. The conversation explores how allocators can separate signal from noise, manage emerging concentration risks, navigate liquidity mismatches in retail private markets, and position portfolios for a world where traditional assumptions no longer apply. From AI infrastructure and mid-market private credit to defence, security, and the evolving role of private capital in public objectives, this episode offers a clear-eyed, practitioner\u2019s view of where private markets are headed\u2014and what investors need to understand to participate intelligently. \ud83d\udd11 Three Key Takeaways \u2022 AI Is Everywhere\u2014and That\u2019s the Risk AI is no longer a standalone theme; it touches venture, infrastructure, real estate, and operating businesses alike. Investors must assess total portfolio AI exposure and balance direct bets with infrastructure-level participation to avoid unintended concentration risk. \u2022 Private Credit\u2019s Sweet Spot Is Moving Down-Market As large-cap sponsor-backed lending becomes crowded and commoditized, opportunity is shifting toward mid- and lower-mid-market private credit, where proprietary deal flow, stronger covenants, and greater repayment optionality can improve risk-adjusted returns. \u2022 Defence and Security Are No Longer Niche Rising geopolitical tensions, technology-driven procurement changes, and massive funding needs are opening defence, cybersecurity, and sovereign infrastructure to private capital. The opportunity is real\u2014but manager expertise and risk controls are critical. \u23f1\ufe0f Timestamped Chapters 00:00 \u2013 Introduction - Private markets, alternatives, and AGF Capital Partners\u2019 2026 outlook 01:10 \u2013 Separating Signal From Noise - Why geopolitical \u201cbogeys\u201d can\u2019t be forecast\u2014and shouldn\u2019t dominate portfolio decisions 04:10 \u2013 AI in Private Markets - Thematic concentration risk, infrastructure plays, and portfolio-level exposure 10:33 \u2013 Private Credit\u2019s Structural Shift - Why capital is moving toward mid- and lower-mid-market lending 16:11 \u2013 The Private Equity Deal-Flow Logjam Rates, valuation gaps, and what it will take to restart transactions 26:32 \u2013 Defense & National Security Investing Technology, geopolitics, and the expanding definition of defense 34:51 \u2013 Retail Investors & Liquidity Mismatch - Why structure matters\u2014and what the recent redemption suspensions are teaching the market 40:47 \u2013 Closing Thoughts - Why 2026 could mark a reset year for private markets  #PrivateMarkets#PrivateEquity#PrivateCredit#AlternativeInvestments#AIInvesting#DefenseInvesting#PortfolioConstruction#CapitalAllocation#InstitutionalInvesting#InsightIsCapital ","author_name":"Insight is Capital\u2122 Podcast","author_url":"https:\/\/advisoranalyst.com\/insight-is-capital-podcast.html","html":"