Currency, inflation, and real assets across borders
Currency, inflation, and real assets: building resilient portfolios across borders – Real assets can help with inflation resilience, but currency can dominate outcomes unless FX policy is explicit. – “Inflation linkage” varies: contractual indexation, regulatory pass-through, or operational repricing—and each fails differently under stress. – A resilient portfolio is built on policies (FX, liquidity, governance), […]
Private credit outside the U.S.
Private credit outside the U.S.: yield, structure, and the illusion of safety – Private credit is not “safe yield.” It is illiquid credit where the return is driven by documentation, monitoring, and workout realism. – The illusion of safety often comes from infrequent pricing and opaque marks—not from reduced risk. – Outside the U.S., enforceability, […]
Mexico as a capital destination
Mexico as a capital destination: industrial, hospitality, and development opportunities in context – Mexico’s opportunity set is best understood as corridor- and operator-specific rather than “country-level.” – 2026 underwriting is dominated by constraints (power, water, permitting) and by financing realism (rates, spreads, and liquidity windows). – The winning memos connect macro signals to operational proof: […]
The case for non-U.S. alternatives in 2026
The case for non-U.S. alternatives in 2026: structural diversification beyond public markets – Non-U.S. alternatives can diversify away from U.S.-centric equity and rate sensitivity, but only if allocators underwrite liquidity, currency, and governance explicitly. – 2026’s macro backdrop (geopolitical shocks, energy-price volatility, and shifting trade patterns) increases dispersion, making “operator quality + structure” the key […]
Mexico Alternatives 2026: The Starter Map (and how to sequence exposure)
“Mexico alternatives” isn’t one bet. It’s a menu of vehicles and strategies with very different risk drivers. Section 1: Context / the signal When allocators say they’re “looking at Mexico,” they often mean three different things: 1) Public markets exposure (listed vehicles tied to Mexico growth). 2) Private real assets exposure (direct or fund-based real […]
Formalizing GCM Press
GCM Intelligence has formalized GCM Press as its publishing imprint for long-form work examining capital behavior, execution, and market structure. Several works now designated under GCM Press were published prior to the imprint’s formal establishment and are recognized as foundational titles. Additional publications will be released as ongoing research and writing are completed. GCM Press […]
Operational Alpha Is Becoming the Decisive Edge in Mexico’s Real Asset Markets
Why execution quality now separates outcomes more than market selection Introduction For much of the past two decades, success in Mexico’s real asset markets could be driven largely by market selection. Choosing the right city, sector, or macro theme—industrial nearshoring, tourism growth, or urban expansion—often delivered strong results even when execution was uneven. That environment […]
Why Family Offices Are Reshaping Capital Formation in Latin America
Direct deals, governance, and long-term alignment Introduction Mexico’s alternative investment markets are entering a new phase—one in which execution capability, infrastructure readiness, and capital discipline matter more than momentum. While institutional capital continues to play a central role, a quieter but increasingly influential group is reshaping how capital is sourced, structured, and deployed: family offices. […]
Mexico’s Alternative Investment Market Enters a Discipline-Driven Phase
Why execution, infrastructure readiness, and capital structure now outweigh momentum Introduction Mexico’s alternative investment markets are entering a new phase—one defined less by momentum and more by discipline. For much of the past decade, capital inflows were driven primarily by macro narratives: demographic growth, trade integration, nearshoring, tourism recovery, and yield differentials relative to developed […]
How Currency Volatility Is Reshaping Capital Stack Design
Peso risk, financial engineering, and cross-border discipline Introduction Currency volatility has long been part of investing in emerging markets, but its role in Mexico’s alternative asset landscape has evolved. Rather than acting as a deterrent, peso volatility is increasingly influencing how deals are structured, financed, and scaled. Investors are no longer asking whether currency risk […]