The investment landscape is shifting in real time. With wealth moving to younger generations and public markets growing more concentrated, investors are confronting a central challenge: how do you build true diversification when the old playbook no longer fits?
Jen DeSisto, Chief Investment Officer at CW Advisors, has a front-row view of this change. In a recent Peachtree Point of View conversation with Greg Friedman, she shared clear insights on what portfolios really look like today and how investors can approach diversification with purpose.
The Portfolio Problem You Might Not See
Here is a statistic that should get your attention: “The number of publicly traded stocks has been cut in half in the last 20 years,” DeSisto notes. At the same time, the S&P 500 has grown more concentrated in a small group of technology companies, with the Magnificent 7 driving much of the recent performance.
So what does this mean for your portfolio? If you lean heavily on traditional public markets, your exposure is likely more concentrated than your allocation suggests. You are also investing in a shrinking set of public companies at a time when private companies and private market opportunities have expanded.
Your Investor Profile Matters
The right allocation to alternative investments is never one size fits all. It depends on your liquidity needs, tax profile, portfolio size and risk tolerance.
For accredited investors exploring alternatives for the first time, DeSisto suggests beginning with 5 to 10 percent in private investments. “We try to leg into some of these private investments,” she explains. “We have tried to build a diversified mix that offers semi-liquid features or income distributions.”
For qualified purchasers with larger portfolios and more flexibility, the allocation shifts. “We recommend 30 to 40 percent in private investments,” DeSisto says. This typically includes private equity and venture at 12 to 15%, private credit at 12 to 15% and direct real estate and infrastructure at 5 to 6% each.
Understanding What Your Capital is Funding
Most investors respond to projects they can see and understand. Real estate developments they can visit. Infrastructure that supports data centers. “Individual things like that get clients excited and they are fun to talk about with people,” DeSisto says. That kind of tangibility matters because when you can picture what your capital is funding, it changes how you view the investment.
The Case for Private Credit
For investors new to alternatives, DeSisto leans toward structures that offer regular income or some degree of liquidity. In private credit, she prefers evergreen vehicles where “you have monthly income coming in, loans are maturing, they are being replaced.”
And while recent headlines have raised concerns about defaults, she stays grounded in the data. “Defaults are a normal part of making loans,” she says. “In any given year, you are going to have 2 to 3% default rates in the debt markets.” The high-profile issues making news were tied to syndicated loans at traditional banks rather than private debt funds.
Looking ahead to 2026, both DeSisto and Friedman expect a stronger environment for investors. “I think 2026 is going to be a much better year for distributions back to investors,” Friedman says, pointing to stabilizing rates and improving M&A activity.
Key Takeaways:
Ready to explore how alternative investments fit into your portfolio strategy? Listen to the full Peachtree Point of View podcast episode for deeper insights on modern portfolio construction.
In today’s evolving financial landscape, Daniel Siegel, President and Principal CRE at Peachtree Group, explains how the firm’s foresight and infrastructure have positioned it to thrive amid tightening bank lending. With $2.5 billion in projected transactions for the year, Peachtree Group continues to capture market share through disciplined middle-market lending and innovative capital tools like CPACE. Daniel explains how careful groundwork, sector experience and strong borrower relationships are helping the firm complete solid deals and continue growing its lending platform while delivering value to investors.
How Peachtree Group Anticipated the Lending Shift
Peachtree Group prepared early for tightening credit markets. “We staffed up and raised capital to prepare for it, and it turns out we were right,” said Daniel Siegel, President and Principal of the firm’s Credit Division. As banks face regulatory pressure and balance sheet constraints, Peachtree Group’s lending platform has scaled rapidly.
“We’re on pace to do about $2.5 billion this year, up from $1.5 billion last year,” Daniel noted.
The firm focuses on middle-market commercial real estate loans, typically around $30 million, serving borrowers who need flexible capital partners with deep asset-level expertise.
What Sets Peachtree Group Apart in Today’s CRE Market, Executing High-Quality, Value-Driven Transactions
Unlike banks, Peachtree Group evaluates deals through a real estate-first lens. Daniel pointed to a recent note purchase in which the firm helped a sponsor finance the acquisition of a non-performing note secured by a nine-property 280-unit apartment portfolio in Oakland, Calif., showing how the team creates value through pricing discipline and a clear understanding of the underlying assets.
“We’re not just buying loans, we’re also evaluating real estate fundamentals and structuring transactions that make sense for both the sponsor and our investors,” he said.
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In hospitality, Peachtree’s specialized knowledge helps close deals others might avoid. The Westin Duluth financing highlights this edge: “We understand hotels and, just as important, we know how to manage them. We execute when others hesitate,” Daniel said.
How CPACE Is Expanding Borrower Options
Peachtree Group’s leadership in CPACE lending continues to unlock new capital strategies. In one high-profile recapitalization, the firm used CPACE as rescue capital, securing a first-position loan backed by $750 million in fresh equity.
“It turned a lot of heads and opened new opportunities for how CPACE can be applied,” Daniel shared.
This innovation reflects Peachtree Group’s ability to structure custom capital stacks that fit unique borrower needs.
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Investing in People and Future Growth
The firm continues to strengthen its platform with strategic hires. In fact, we have former borrowers who joined Peachtree Group’s origination team. Most recently, we did just this with Zac Chandler who joined the team in the newly created position of SVP, government lending. “It’s the ultimate compliment when a borrower becomes an employee,” Siegel said.
Discover how Peachtree Group structures creative, reliable financing solutions for commercial real estate. Visit peachtreegroup.com/credit to explore our lending solutions.
ATLANTA (Nov. 12, 2025) - Peachtree Group (“Peachtree”) has entered into a definitive agreement to acquire First Western SBLC, Inc. (“First Western”), doing business as PMC Commercial Trust (“PMC”), a Dallas-based nationwide direct lender specializing in Small Business Administration (“SBA”) 7(a) loans. The closing is subject to the receipt of the U.S. Small Business Administration’s consent as well as certain other closing conditions.
“This acquisition will allow Peachtree to expand its credit platform while bringing the speed, creativity and certainty we’re known for into the SBA lending space,” said Greg Friedman, Peachtree’s CEO and managing principal. “PMC was founded by my grandfather, Dr. Fred Rosemore, over four decades ago to help entrepreneurs access capital and pursue their business goals. Bringing that legacy into Peachtree’s platform will be both personally meaningful and strategically powerful, enabling us to deliver fast, flexible financing solutions to small business owners nationwide.”
Following the closing of this acquisition, Peachtree will offer small business owners streamlined access to SBA 7(a) loans ranging from $50,000 to $5,000,000 to finance acquisitions of real estate or other businesses, purchase equipment, provide working capital and refinance existing debt. This lending solution provides a highly efficient capital source for smaller transactions, particularly in the hospitality sector, and will extend Peachtree’s ability to serve owners across a variety of industries.
PMC, an indirect subsidiary of Creative Media & Community Trust Corporation (“CMCT”), is one of only 12 Small Business Lending Companies (“SBLCs”) actively licensed by the SBA to originate 7(a)loans. Since its founding in 1983, the firm has helped entrepreneurs access growth capital and holds the SBA’s Preferred Lender Program (PLP) designation, granting delegated authority to place SBA guarantees on loans without prior SBA review, allowing borrowers to close faster and advance their business plans.
This acquisition underscores Peachtree’s commitment to providing diverse and flexible capital solutions across the credit spectrum, positioning the firm to support both institutional borrowers and small business owners with the right financing at the right time.
“Expanding into SBA lending is a natural extension of Peachtree’s vertically integrated platform,” Michael Harper, President, Hotel Lending added. “With PMC’s PLP designation and focus on hotel owners, along with the network of relationships we can leverage through our originations team, we will be able to provide efficient capital solutions for smaller transactions while supporting small business growth in hospitality and other industries. This addition will broaden our credit capabilities and strengthen our ability to deliver strong returns for investors.”
This expansion will build on Peachtree’s established reputation as one of the nation’s leading commercial real estate lenders.
Peachtree is a top-tier financing partner recognized by the Mortgage Bankers Association as the seventh-largest investor-driven commercial real estate lender in the U.S. The firm will offer a full spectrum of financing solutions, including SBA 7(a) loans following the closing of this acquisition, permanent loans, bridge loans, mezzanine financing, CPACE (Commercial Property-Assessed Clean Energy) loans, preferred equity investments and Triple Net Lease (NNN) financing.
Explore Peachtree Group's latest commercial loan transactions and financing options.
Peachtree Group is a direct balance sheet lender focused on funding first mortgage loans. Our areas of expertise include:
We lend to all commercial real estate asset classes and are actively providing financing for:
See below for some of the most recent loan transactions from Peachtree Group, including:
Need Financing? Contact us at lending@peachtreegroup.com.
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