Willoughby Asset Management Investment Pools
Quarterly Commentaries
The Q2 2026 commentaries for the Willoughby Private Investment Pools are now available.
Laurier Private Equity Pool
Private equity reasserted its value as public markets steadied but stayed choppy: After a turbulent first quarter, public equity markets found firmer footing through much of Q2 2026, though sentiment remained sensitive to trade policy headlines and renewed geopolitical tension late in the period. This backdrop continued to underscore the value of private equity in a diversified portfolio: because valuations are anchored to underlying business fundamentals and long-term value creation rather than daily market pricing, the asset class remained largely insulated from the short-term swings that drove public market volatility.
Rockridge Private Debt Pool
Private credit continued to deliver steady income as the environment stabilized: After a stretch of heightened volatility late in 2025 and into the first quarter, the second quarter of 2026 brought a calmer backdrop for private credit. Much of the noise that had surrounded the asset class over Q4 2025 and Q1 2025 — concerns around credit quality, valuations, and headline risk in certain segments of the market — meaningfully subsided through Q2. Against this steadier tone, private credit continued to do what it is designed to do: generate consistent, income-driven returns with limited sensitivity to daily public market swings, underpinned by senior positioning, strong collateral coverage, and contractual income.
Forsyth Private Real Assets Pool
Real assets continued to demonstrate their defensive value: The second quarter of 2026 brought another stretch of choppiness across public markets, with equities giving back ground late in the quarter amid renewed geopolitical tension in the Middle East and shifting energy prices. Against this backdrop, high-quality real assets again did their job — delivering stable, contracted income, tangible collateral, and low correlation to daily market swings. As public benchmarks wobbled, the steadiness of private real estate and infrastructure continued to reinforce their role as portfolio ballast.
Birchmont Absolute Return Pool
A turbulent backdrop that played to the Birchmont Absolute Return Pool's (the “Fund”) strengths: The second quarter of 2026 was defined by trade policy uncertainty, tariff headlines, and renewed geopolitical tension, all of which drove meaningful swings across public equity and fixed income markets. Public equities nonetheless finished the quarter at record levels, a reminder that strong headline index returns can obscure how unsettled the path to them was. Both features of the quarter mattered for a fund built to deliver positive absolute returns with low correlation to traditional markets. The volatility supplied the dispersion these strategies are designed to exploit, while the strength of public markets was a useful reminder that diversification is best established before conditions turn, not after.
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