Why AI Worries About Software Are Hitting Private Credit
Plus: Positioning through the software selloff, a manager who avoided the hit, and a lesson in private-markets from PitchBook’s Hilary Wiek.
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Advisor DigestFebruary 26, 2026 Featured Abby Latour After the pandemic, software companies became a favorite among private market lenders. 
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Top Stories Precise planning is critical to keep high-income retirees off costly IRMAA cliffs. Sheryl Rowling Rajiv Jain’s GQG funds paid a price in 2025 for exiting tech, but the bold move has paid off this year—so far. Gregg Wolper Software companies are stuck in a “growth purgatory” that could last months, or years, according to BNY’s Bailer. Gabe Alpert If high‑bandwidth memory supply catches up or demand growth slows, we expect these stocks to fall faster than they rose. David Sekera, Susan Dziubinski, Jess Bebel Here’s where top stock-pickers have been investing lately. Susan Dziubinski Incentive fees are occasionally disclosed but continuously collected. Jack Shannon High-quality small-cap funds look relatively weak but retain long-term investment merit. Eric Schultz The Long View Podcast Christine Benz, Ben Johnson PitchBook’s principal fund strategies analyst provides a lesson in the parlance of private markets as they open to a broader spectrum of investors.
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