2024 Global Investment Outlook

February 12, 2024

Welcome to SLC Management’s investment outlook for 2024. In this report, our investment teams and solutions providers discuss public and private fixed income, real estate, infrastructure, insurance asset management and retirement plans.

What’s covered

Markets and economies could experience a significant pivot in 2024. Read more about the views of our investment specialists from SLC Management, BGO, InfraRed and Crescent Capital for the investment landscape ahead.

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A letter from Steve Peacher

Steve Peacher

President, SLC Management

“As we begin 2024, sentiment indicators and expectations continue to be a focus for investors, especially as discussions over potential peak interest rates heat up and impact market volatility.”

Macroeconomic outlook

Expectations have shifted, and a “rolling recession” is a possibility for 2024.

Real estate

We see a constructive landscape ahead for commercial real estate following recent challenges.

Fixed income: investment grade

Geopolitical catalysts may play a role in risk asset returns.

Infrastructure

Which thematic trends could drive infrastructure investments in 2024? Our specialists take a closer look.

Fixed income: below investment grade

The high yield market is poised to benefit from an eventual decline in rates.

Insurance asset management

Investors may see attractive opportunities in income-oriented alternatives, but risks remain given macroeconomic uncertainty.

Private credit: investment grade

Expectations are for a busy start to 2024 for private credit investors.

Retirement plan solutions

“LDI plus” solutions are increasingly popular in the market given a renewed focus on liability growth rates and rate risk.

Private credit: below investment grade

Current conditions could leave borrowers increasingly looking to the flexibility of this market.

Contributing Authors

Steve Peacher

President, SLC Management

Dec Mullarkey

Managing Director, Investment Strategy and Asset Allocation, SLC Management

Randall Malcolm

Senior Managing Director, Portfolio Manager, Public Fixed Income SLC Fixed Income

John Fekete

Managing Director, Head of Capital Markets, Crescent Capital Group

Andrew Kleeman

Senior Managing Director, Co-Head of Private Fixed Incomes, SLC Fixed Income

Elaad Keren

Senior Managing Director, Co-Head of Private Fixed Income, SLC Fixed Income

Gary Greaves

Managing Director, Private Fixed Income, SLC Fixed Income

Chris Wright

Managing Director and Head of Private Markets, Crescent Capital Group

Chris Wang

Managing Director, Credit Solutions, Crescent Capital Group

Phil Stone

Principal, Head of Canada Research BGO

Michael Andrews

Managing Partner, Portfolio Manager BGO

Ashwin Gopwani

Managing Director, Head of Retirement Solutions, SLC Management

Steve Guignard

Senior Director, Client Solutions SLC Management

Jack Paris

Chief Executive Officer, InfraRed

Richard Crawford

Partner, Head of Energy Income Funds, InfraRed

Edward Hunt

Partner, Head of Core Income Funds, InfraRed

Stephane Kofman

Partner, Head of Capital Gain Funds, InfraRed

Our Specialty Managers

SLC Management
Crescent Capital
BentallGreenOak
InfraRed Capital Partners

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