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April 29, 2026
Hybrid Capital Is Moving to the Center of Credit

As hybrid capital moves into focus, we believe the key question is not where you sit in the capital structure, but what you are lending against. This letter outlines our Credit strategy’s focus on real assets, capital solutions, and cash flow–driven value in a shifting market environment.
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In his recurring Semafor column, Secretary Kerry describes the current energy shock as the start of a longer-term shift toward energy sovereignty, with resilience, domestic supply, and system control as key drivers.
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Press Release
Galvanize Real Estate has acquired a three-property, 462,300-square-foot industrial portfolio in Green Oaks, Illinois, expanding its growing Chicagoland footprint and bringing its portfolio to more than 2.8 million square feet.