Alternatives in a new world order

Positioning portfolios for a new world order

The post-globalisation era is rewriting the rules for alternative assets. Geopolitics, fiscal deficits and a structural reset in inflation are colliding with the largest technology buildout in a generation.

Alternatives in a new world order distils insights from Nuveen's nPOWERED26 London conference, where 200+ senior investment decision-makers mapped the path forward across five defining themes.

What's inside?

1. Geopolitics as an investment variable — from regionalisation and sovereign debt dynamics to the contested future of the U.S. dollar.
2. The AI and digital infrastructure supercycle — hyperscaler capex is on track to exceed $1 trillion by 2027, but a $1.4 trillion funding gap remains for alternative capital to fill.
3. Private credit comes of age — as annual private fixed income issuance topped $120 billion in 2025, three times 2010 levels, asset-backed finance emerges as a new frontier.
4. Energy security overtakes net zero — oil supply disruption and higher prices position renewables as a resilience play.
5. Portfolio construction reimagined — institutional investors are adjusting exposures in response to trade, geopolitical and market volatility.

The alternatives opportunity set has rarely been wider or more complex. Navigating it demands a partner with cross-asset expertise.