Insights

• Oct 13, 2025

  

  MIND THE GAP: ACCESSING AN ATTRACTIVE SEGMENT NO LONGER CAPTURED BY SMALL CAP

  Institutional investors have long turned to small-cap public equities, such as the Russell 2000, to capture the growth premium associated with smaller companies. In recent years, however, the Russell 2000 has struggled to deliver on this promise. Returns have been muted, volatility has remained elevated, and a growing share of the index constituents represent larger, often unprofitable businesses. At the same time, the growing middle market segment of U.S. private equity (“US MM PE”) has emerged as a consistent engine of value creation and small-company exposure.

• Aug 26, 2025

  

  MIDDLE MARKET ADVANTAGE: UNLOCKING VALUE IN THE LARGEST SEGMENT OF PRIVATE EQUITY

  The U.S. middle market has long been the core of private equity investing. Defined broadly as private companies with enterprise values between $25 million and $1 billion, the middle market represents the largest and most active private equity segment. With structurally attractive entry valuations, consistent exit pathways, and strong opportunities for growth through operational and strategic initiatives, middle market private equity (“MM PE”) has demonstrated the ability to deliver compelling risk-adjusted returns across market cycles.

• Jun 16, 2025

  

  NAVIGATING VOLATILITY: YTD 2025 MARKET DISLOCATION AND THE CASE FOR PRIVATE EQUITY

  Investors have historically considered private equity seeking lower volatility, low correlation to public
  markets, and potential to enhance portfolio stability. That value proposition has held true in 2025.
  Through April, public markets faced broad drawdowns amid macro uncertainty—driven by inflation,
  interest rate shifts, and geopolitical risk. In contrast, private market strategies, particularly those
  focused on the U.S. middle market, have remained comparatively stable. The Constitution Capital
  Access Fund (“CCAF” or the “Fund”), with its diversified exposure, disciplined underwriting, and
  evergreen structure, has delivered positive returns year-to-date while maintaining lower volatility
  than public benchmarks, highlighting the role private equity can play in navigating uncertainty.

• Mar 31, 2025

  

  NAVIGATING TARIFFS: IMPACT ON THE U.S. ECONOMY AND PRIVATE EQUITY'S RELATIVE INSULATION

  The Trump Administration has brought a renewed focus on trade policy, particularly around tariffs on imports from key trading partners like China, Mexico, and Canada. While tariffs have historically served multiple strategic purposes, including facilitating trade negotiations, strengthening domestic industries, shaping fiscal policy, and influencing supply chain decisions, the ultimate impact hinges on a complex combination of economic policy and corporate action. With a wide range of possible outcomes, it’s prudent for businesses to prepare for challenges, anticipate opportunities and expect a balance of each. Even under a potential downside case, we believe private equity, and particularly the U.S. middle market, is relatively insulated.