Are public equity markets truly delivering alpha, or are investors just chasing beta? In a higher interest rate regime, with a higher correlation between stocks and bonds, replacing public equities with private market investments makes sense. Private markets include equities, credit and everything in between, offering building blocks for portfolios across growth and defensive assets. A well-curated portfolio of alternatives can not only match but potentially exceed the return profile of public equities, all while mitigating critical risks like high v...