Aquarian Holdings

We are pleased to announce that Aquarian Real Estate Partners (AREP) and 3650 Capital have originated $72.3 million in financing for Rhino Investments Group's acquisition of Randhurst Village. Randhurst Village is a 929,899-square-foot dual grocery-anchored power center in Mount Prospect, Illinois.   The whole loan financing comprises a $45.6 million senior loan arranged by AREP and a $26.7 million mezzanine loan from 3650 Capital.   "As an ideally located property in a strong Chicago submarket, Randhurst Village is exactly the type of high-quality asset we seek to finance, with a strong tenant roster, durable cash flows and attractive long-term growth potential," said Kevin Holmes, Partner and Head of AREP.   Read the full press release here: https://lnkd.in/gZUQGgpG

We are delighted to announce that Quinn Conway, Vice President of Investment Operations, has received the Power User Award at the 2026 Clearwater Analytics Excellence Awards. The award recognizes individuals who go beyond the standard use of Clearwater’s platform by automating processes, building custom workflows, and applying AI in innovative ways to drive greater efficiency across their organizations. Congratulations, Quinn!

Since Q3 2023, the top 10% of earners have spent more than the bottom 80% combined. What does this growing concentration of consumer spending mean for the economy, markets, and investors? In our latest article, we examine the rise of the K-shaped consumer, the forces driving this trend, and the risks that may be hidden beneath today's seemingly resilient spending data. Read the full article below.

This summer, an exceptional group of interns brought energy, curiosity, and fresh perspectives to teams across Aquarian. Throughout the ten-week program, they gained hands-on experience, built meaningful connections, and contributed to work that supports the firm's long-term growth. From day one, our interns were embedded across the business, partnering with teams on real projects and strategic initiatives. They worked alongside experienced professionals, gained exposure to senior leadership, and developed a deeper understanding of the dynamic industries in which we operate.   A highlight of the program was the interns' capstone presentations, where teams shared their perspectives on emerging technologies and their potential impact on our business. Presenting directly to firm leadership, they demonstrated thoughtful analysis, creativity, collaboration, and the confidence to tackle complex challenges.   Beyond their project work, interns participated in mentorship opportunities, networking events, and professional development experiences designed to help them explore career paths, broaden their perspectives, and build lasting relationships across the firm.   Giving back was also an important part of the summer experience. Our interns volunteered with the Central Park Conservancy and the Armed Services YMCA National Headquarters, supporting organizations that make a meaningful difference in our communities while reinforcing Aquarian's commitment to service and impact.   And, of course, no Aquarian internship would be complete without some friendly competition. The summer concluded with our annual Mario Kart Championship, a favorite tradition that brought interns and colleagues together to celebrate a successful program.   We are incredibly grateful for the contributions this talented group made during their time with us. As they return to campus, we look forward to seeing all they accomplish and are excited to follow their future successes.

Earlier this week, we were delighted to host undergraduate students from the Girls Who Invest program for a panel focused on careers in asset management.   Aquarian Investments team members Eric Murzyn, Grace (Hahn) Bradford, Kevin Holmes, and Meghan (Owens) Muller shared valuable perspectives on building a career in investing, discussing the importance of finding mentors, developing a strong network both within and beyond the workplace, and recognizing that careers in investing are rarely a straight path. They also emphasized that long-term success requires more than technical expertise, highlighting the value of strong communication skills, grit, and a willingness to learn.   Girls Who Invest (GWI) is a nonprofit organization dedicated to transforming the investment management industry by attracting and advancing women investors, change-makers, and leaders. We value opportunities to engage with organizations like GWI that help broaden pathways into the industry and support the next generation of investment professionals.

Last week, PACE Equity Finance and Aquarian Holdings brought together NYC commercial real estate colleagues for an evening focused on connection, conversation and a little friendly competition. 🏎️ Thank you to everyone who joined us. We look forward to continuing our collaboration with Aquarian Real Estate Partners to help deliver efficient capital solutions to clients. Ethan Elser, Beau Engman, Eli Terry | PACE Equity, LLC, Kevin Holmes, Meghan (Owens) Muller | Aquarian Holdings

Volatility was the defining feature of the first half of 2026, as markets priced for perfection bowed under repeated shocks, but remained surprisingly resilient overall – even as widening cracks below the surface threatened to pierce the increasingly fragile veil of exuberance. Aquarian's 2026 Midyear Outlook examines the widening rift between resilient headline data and the narrowing set of drivers holding it up. Aggregate growth remains firm but leans increasingly on upper-income consumption and a small cohort of companies tied to the AI theme. Structural pressures continue to build across a more strained lower-income consumer, record equity market concentration, emerging stress in corporate credit, and persistent geopolitical uncertainty. The common thread is a steadily thinning margin of safety. Elevated valuations, tight credit spreads, and extreme concentration leave little room for error, with outcomes increasingly sensitive to both macro developments and idiosyncratic shocks. Read the full outlook here: https://lnkd.in/e4Z7KqYW

Last week, the Aquarian team came together for our Volunteer Day with the Central Park Conservancy supporting the stewardship of one of New York City's most iconic public spaces.   The Central Park Conservancy is the private nonprofit organization responsible for maintaining and preserving Central Park, ensuring it remains an accessible destination for residents and visitors. Volunteer opportunities like this allow our team to make a meaningful impact within the communities where we live and work.   We are proud to support organizations that invest in the long-term health, protection, and sustainability of community spaces around New York City, helping to ensure they remain vibrant and welcoming for future generations.   Learn more about the Central Park Conservancy and its mission: https://lnkd.in/efrdBx_Z

A big welcome to our 2026 Summer Intern class!   Over the coming months, they’ll work across our Investments, HR, Client Services, and Operations teams, contributing fresh ideas while gaining hands-on experience across the firm.   Thank you to everyone who helped make this program possible. We’re proud of its continued success, including five full-time analyst hires to date.   Looking forward to a great summer together! Alina Markutsya Avery Chapel Cooper Menachem Emily Kruger Faisal A. Syed Gloria Wen Maximus W. Peter F. Rishabh W. Robert Shakur Rucsandra Girlicel Trevor Brotons

We are proud to share that Wen Liu, Chief of Actuarial Services at Aquarian Insurance Holdings, has been recognized by Insurance Business Review as one of the Top 10 Chief Actuaries of 2026.   This recognition reflects Wen’s leadership in risk management and actuarial strategy, grounded in the belief that “growth in life and annuities must rest on clarity rather than assumption.”   As Wen describes, his approach focuses on linking product design with balance sheet strength and long-term value, with each decision shaped as part of a cohesive, strategic view rather than a response to market movements in isolation. By translating complex analysis into clear, actionable insight, he helps ensure conversations with stakeholders remain relevant, transparent, and focused on what matters most.   Congratulations to Wen on this well-deserved recognition. Read the full article: https://lnkd.in/gukq9Qu9