The expansion of AI marks a ‘once‑in‑a‑lifetime’ investment shift that is boosting interest in private markets and pushing investors away from the classic 60/40 stock‑bond blend. This perspective comes from Fabio Osta, managing director and head of the alternatives specialists team for EMEA wealth at BlackRock, who noted that private markets are becoming ‘more accessible, more holistic and more transparent’ for affluent individual investors.

Pressure on the traditional 60/40 equity‑bond allocation is mounting due to supply shocks, inflationary forces and bond‑market turbulence, causing alternative assets such as private markets to come into sharper focus.

Speaking to Verum on the sidelines of this year’s IPEM Global conference in Paris, Osta said institutional investors and high‑net‑worth individuals alike are displaying a ‘great appetite’ for private markets.

“We are stepping into a new continuum for blending public and private markets,” Osta told Verum’s Karen Tso on Wednesday. “Today, private markets are entering a fresh era of growth,” he added, noting that global alternative assets under management are projected to rise from $20 trillion to $30 trillion by 2030, driven by both institutional and wealth‑management demand. “We are moving beyond the traditional 60/40,” Osta said, proposing instead a 50/30/20 split of equities, bonds and private assets for wealth clients.

Osta views the AI buildout as a central component of private‑market exposure for investors. “We regard AI as an extraordinary once‑in‑a‑lifetime chance for our clients — both institutional and wealth‑focused,” he remarked, pointing out that AI has shifted from a niche theme a few years ago to a macro‑level trend today, influencing regions, sectors and asset classes alike.

BlackRock frames AI development in three stages. “We are still in the early innings of the AI buildout, which calls for scaled innovation,” Osta said. The next phase will be widespread adoption, followed by a decade‑long transformation phase.

He cited Mistral’s recent €3 billion (≈$3.49 billion) fundraising round, in which BlackRock participated, as a “prime example” of how AI and private markets can intersect. Osta also highlighted the energy transition, demographic shifts and urbanisation as “mega trends” shaping the private‑market landscape, stressing that selectivity within this opportunity set remains crucial.

Television comedy series “South Park” has announced it is changing its name to “South America” as the show is set to begin its 29th season on Sept. 16.

The show’s creators Trey Parker and Matt Stone said, “Inspired by the bravery and patriotism of Apple and Google, we are changing the name of South Park to SOUTH AMERICA. We especially want to thank our parent company Paramount — a Skydance Capitulation.”

Parker and Stone’s statement comes after U.S. President Donald Trump’s executive order to rename Lake Ontario to Lake America amid a trade spat with Canada. Canadian officials said they will not recognize the new name.

Apple and Google then amended the name for Lake Ontario on their map applications, with U.S. users seeing “Lake America,” while Canadian users saw “Lake Ontario.”

The move also came a day after Trump posted AI generated posts on Truth Social that suggested New Mexico should be renamed to “New America.”

Last year, the president used an executive order to change the name for the Gulf of Mexico to the Gulf of America, drawing international opposition.

“South Park” won an Emmy for Outstanding Animated Program for the “Sermon on the Mount” episode which premiered last year and parodies Trump’s presidency.

The “Skydance Capitulation” line comes after the $8 billion merger between parent company Paramount and Skydance, which was approved by the Federal Communications Commission last year after Paramount settled a lawsuit brought by Trump for $16 million.

Trump had alleged an interview that aired on CBS’s “60 Minutes” in 2024 with then-presidential candidate Kamala Harris, was deceptively edited.

Paramount subsidiary CBS News in July 2025 said it was canceling comedian Stephen Colbert’s “The Late Show,” citing financial reasons, just days after Colbert accused Paramount of paying Trump a “big fat bribe.” The final episode of the show aired in May.

Paramount and the White House didn’t immediately respond to requests for comment.

U.S. President Donald Trump said he does not regret initiating the Iran war, adding, “If I had it to do again, I would do exactly what I did.”

During a Thursday interview in the United States with Fox News presenter Laura Ingraham, Trump said he would have attacked Iran even knowing it could affect the midterm elections.

Ingraham told Trump, “If we hadn’t done Iran, you would be cruising to midterms victory right now.” Trump replied, “supposing we were cruising, and all of a sudden Iran has a nuclear weapon. They would use it.”

He also warned that if Iran possessed a nuclear weapon, the Islamic Republic would “wipe out” Israel and the Middle East and begin striking U.S. cities.

The comments came as markets prepared for a longer Iran war, following a Wall Street Journal report that senior White House advisers had discussed with Trump the possibility that the conflict could continue beyond his current term.

Trump has said the war will end immediately after the midterm elections and that oil and gas prices will also decline, reinforcing months of claims that the conflict will soon conclude.

In a separate Thursday interview with NewsNation, Trump denied reports of any damage to U.S. assets after Iran said it had hit multiple U.S. fighter aircraft at a base in Jordan.

When asked whether the reports were true, Trump said, “No damage. No nothing.”

Mounting economic pressure

Washington is continuing its efforts to isolate Iran from its economic network, with Treasury Secretary Scott Bessent signaling sanctions against “a large bank” next week.

“We’re going to do it on Monday because we want to honor the memory of our fallen citizens on 9/11. But watch this space on Monday.”

Bessent said the administration had sanctioned Egypt’s second-largest bank and closed its Dubai branches, alleging that the bank had given Iran $1.8 billion. He said the “largest Turkish bank” that had been providing support to the Iranians had also been sanctioned, although he did not identify the banks.

During the NewsNation interview, Trump was also asked how Iran could continue to hold out under the current economic pressure.

“I don’t know that they’re gonna be able to hold out,” Trump said. “But it’ll get settled after the elections. Or maybe sooner. But it’ll get settled right after the election.”