Impact Growth Capital Newsletter

This Isn't About Rates. It's About Control of the Federal Reserve.

The Fed held rates steady as expected. Powell announced he will remain on the board asgovernor, something no departing Chair has done since Marriner Eccles in 1948. Four officials dissented, the most since 1992. The real signal is not in the rate. It is in the power shift, the institutional fracture, and what both mean for capital positioning

Impact Growth Capital

Apr 27, 2026

The $5 Billion Signal: What Pershing Square's IPO Tells Us About Where Capital Actually Wants to Go

Ackman's closed end fund is expected to raise $5 billion, the low end of its range. The surface read is underperformance. The structural read is far more revealing about how institutional capital allocation is evolving in 2026.

Impact Growth Capital

Apr 24, 2026

Capital Rotation in 2026: Private Credit, Data Center Investment, and the Repricing of Real Assets

Headlines suggest a private credit crisis. The underlying flows tell a different story. Capital is not retreating. It is repricing the vehicle and moving closer to the asset.

Impact Growth Capital