Ofek Kesef Asset Management Releases 2026 Strategic Outlook Highlighting AI Infrastructure and Private Credit

Ofek Kesef Asset Management has released its 2026 strategic investment outlook, outlining a shift in portfolio positioning as global monetary policy paths diverge and liquidity conditions tighten following the post-2025 expansion cycle.

According to the firm, the outlook reflects changes in the macroeconomic environment, including diverging central bank policies among major economies and increasing volatility across public markets. The firm’s analysis notes that while the U.S. Federal Reserve has signaled a prolonged period of restrictive policy to address persistent inflation pressures, other major central banks, including those in Europe and China, are moving toward accommodative measures to support slowing growth.

Shifting Market Conditions

Ofek Kesef Asset Management stated that these policy divergences have increased correlation risks across traditional asset classes, particularly within balanced equity-bond portfolios. The firm’s outlook identifies rising vulnerability in conventional allocation models during periods when equities and fixed income decline simultaneously.

In response, the firm reports that its 2026 strategy emphasizes asset classes with historically lower correlation to public equity markets, including private credit instruments and infrastructure-linked real assets.

Market Indicators Informing the Outlook

The firm cited several macroeconomic and sector-specific indicators influencing its strategic assessment:

• Economic Growth Trends: Consensus economic forecasts anticipate a moderation in U.S. GDP growth in 2026 compared with prior years, suggesting a transition toward later-cycle conditions.
  
• Artificial Intelligence Infrastructure Investment: Industry projections indicate continued capital expenditure growth by large technology firms to support artificial intelligence workloads, with increased focus on energy supply, data centers, and network capacity.
  
• Private Credit Conditions: According to sector data referenced by the firm, default rates within segments of the private credit market have risen modestly, contributing to greater dispersion in credit quality and manager performance.
  

Strategic Focus Areas

Ofek Kesef’s outlook outlines two primary areas of emphasis for 2026:

• Infrastructure-Linked Real Assets: The firm reports increased attention to energy and digital infrastructure assets that support data processing and storage requirements associated with AI deployment, citing their potential role in providing long-term contracted or usage-based revenue streams.
  
• Senior Secured Private Credit: In light of refinancing pressures expected to emerge for corporate borrowers in 2026, the firm states that its models prioritize senior secured lending structures, which historically offer higher recovery prospects in the event of borrower distress.
  

Investor Considerations

The outlook highlights several structural characteristics associated with these strategies, including exposure to project-specific cash flows, asset-backed lending structures, and floating-rate instruments that may respond differently to interest-rate conditions than traditional fixed-income securities. The firm also notes that its strategies are designed to align with prevailing regulatory and disclosure frameworks in relevant jurisdictions.

Executive Commentary

Roland Fairmont, Chairman of Ofek Kesef Asset Management, commented on the outlook:

“Market conditions entering 2026 differ meaningfully from those of the immediate post-pandemic period. Our analysis suggests that return drivers are becoming more dependent on underlying assets and capital structure positioning rather than broad market exposure. This outlook reflects how we are evaluating those shifts.”

Outlook Context

Ofek Kesef Asset Management stated that the 2026 outlook is intended to provide context on macroeconomic trends and asset-allocation considerations rather than serve as investment advice or a solicitation.

About Ofek Kesef Asset Management

Ofek Kesef Asset Management is an investment management firm focused on alternative credit, real assets, and macro-thematic investment strategies. The firm serves institutional investors, family offices, and endowments.