Terms

Fiscal policy shapes aggregate demand, public services, distribution and long-run productive capacity through government spending, taxation, transfers and borrowing. Entry type: Knowledge articleField: MacroeconomicsLast reviewed: 24 August 2026 Definition

The business cycle describes recurring expansions and contractions in economic activity, employment, income and spending, without implying a fixed or mechanically predictable timetable. Entry type: Knowledge articleField: MacroeconomicsLast reviewed: 24 August 2026

Economic growth expands the resources available to households, firms and governments, but its social significance depends on productivity, population, distribution, resilience and environmental constraints. Entry type: Knowledge articleField: MacroeconomicsLast reviewed: 24 August 2026

Inflation changes the purchasing power of money, redistributes gains and losses across borrowers, lenders, workers and firms, and strongly influences monetary policy and financial-market expectations. Entry type: Knowledge articleField: MacroeconomicsLast reviewed: 24 August 2026

Monetary policy influences inflation, demand and financial conditions through interest rates, central-bank balance sheets, expectations and the functioning of money and credit markets. Entry type: Knowledge articleField: MacroeconomicsLast reviewed: 24 August 2026

A private trust company can give a family a dedicated institutional trustee platform, but it introduces governance, regulatory, substance and succession responsibilities that must be actively maintained. Entry type: Knowledge articleField: Private Wealth and Family Office ServicesLast reviewed: 24 August 2026

An investment policy statement converts an investor's objectives, constraints and governance arrangements into a durable framework for portfolio decisions, oversight and accountability. Entry type: Knowledge articleField: Private Wealth and Family Office ServicesLast reviewed: 24 August 2026

Family governance creates legitimate forums, rules and decision processes through which a family coordinates ownership, wealth, enterprise and relationships across generations. Entry type: Knowledge articleField: Private Wealth and Family Office ServicesLast reviewed: 24 August 2026

Wealth structuring coordinates legal ownership, control, succession, tax, investment and fiduciary administration across the entities and jurisdictions through which family wealth is held. Entry type: Knowledge articleField: Private Wealth and Family Office ServicesLast reviewed: 24 August 2026

A family office is an organizational platform through which a family coordinates investment, ownership, governance, administration and intergenerational continuity across complex financial and personal affairs. Entry type: Knowledge articleField: Private Wealth and Family Office ServicesLast reviewed: 24 August 2026

Capital raising and placement advisory help fund managers, companies and other issuers identify suitable investors, prepare an institutional proposition and execute a compliant fundraising process. Entry type: Knowledge articleField: Private Capital and FundraisingLast reviewed: 24 August 2026

Portfolio company value creation is the active ownership agenda through which private-capital investors and management teams seek to improve growth, operations, capabilities and exit value. Entry type: Knowledge articleField: Private Equity and Management ConsultingLast reviewed: 24 August 2026

Private equity secondaries provide liquidity through the transfer of existing fund interests or portfolios and through manager-led transactions involving assets held by established funds. Entry type: Knowledge articleField: Private Capital SecondariesLast reviewed: 24 August 2026

Private equity is an ownership model in which investment funds acquire interests in companies and seek to create value through governance, strategic change, operational improvement and eventual exit. Entry type: Knowledge articleField: Private CapitalLast reviewed: 24 August 2026

Private credit supplies privately originated or negotiated debt capital to companies and assets through funds and specialist lenders outside conventional public bond markets. Entry type: Knowledge articleField: Private Capital and FinancingLast reviewed: 24 August 2026

A continuation fund transfers one or more assets from an existing private-capital fund into a new vehicle, offering current investors liquidity or continued exposure while extending the manager’s ownership period. Entry type: Knowledge articleField: Private Capital SecondariesLast reviewed: 24 August 2026

Debtor and creditor advisory describes distinct restructuring mandates undertaken for companies that owe obligations and stakeholders that hold financial claims against them. Entry type: Knowledge articleField: Restructuring and Special SituationsLast reviewed: 24 August 2026

Turnaround management is the intensive stabilization and operational renewal of an underperforming or distressed organization under conditions of limited time, liquidity or stakeholder confidence. Entry type: Knowledge articleField: Restructuring and OperationsLast reviewed: 24 August 2026

Distressed M&A transfers a financially pressured business or asset under conditions in which liquidity, creditor rights, insolvency risk and compressed timing reshape the ordinary transaction process. Entry type: Knowledge articleField: Restructuring and Corporate TransactionsLast reviewed: 24 August 2026

A liability management exercise modifies or repurchases existing debt to improve liquidity, extend maturities, reduce leverage or change contractual restrictions without necessarily commencing a formal restructuring. Entry type: Knowledge articleField: Restructuring and Capital MarketsLast reviewed: 24 August 2026