We are delighted to bring you this edition of Spotlight Magazine, the content of which has come at just the right time, with it becoming increasingly apparent that we are in the midst of a global regulatory refresh of the private funds market. Since the financial crisis, private markets and the use of leverage has grown significantly with private credit funds having ridden the wave of bank-induced liquidity and plummeting interest rates to significantly outperform the public markets and fixed income products. This success has caused an expansion of the investor base looking into private funds as a source of income, with retail investors increasingly set to ride the wave.