OFFICE NEWS
- Expanded our team with the addition of Senior Wealth Advisor, Bob Hill and Investment Analyst, Jordy Elster
- Introduced Partnership & New Equity Program: In 2025, we broadened firmwide partnership through the launch of a new
equity program, aligning long-term ownership with performance, collaboration, and shared success across the firm.
TEAM
Managing Partner | Senior Wealth Advisor
Michael Rose is the Founder and Managing Partner of Rose Capital Advisors, and has been providing strategic investment advice and wealth management services for over 27 years. He started the firm to create a culture unlike the typical financial advisor tradition. Michael prioritizes core values above all: a collaborative team-based approach, a client-first focus, and a commitment to a work / life balance, including taking part in high-impact community projects that benefit both the people around him and the clients he serves.
Director of Client Operations
Wealth Advisor | Dir. of Client Relations
Portfolio Manager
Wealth Advisor
Senior Wealth Advisor | Dir. of Client Solutions
Business Development – Sports & Entertainment
Executive Assistant | Office Manager
Senior Wealth Advisor
Investment Operations Analyst
ALTERNATIVE INVESTMENTS
REAL ESTATE
Castellan Real Estate Partners
- Over $3.3 Billion of equity and debt across 1,268 transactions since 2009.
- 20 bridge loans were paid off in 2025, representing a total value of $145.4 million.
- Funded 44 bridge loans in 2025, representing $397 million with a 47% weighted average loan to value (LTV).
- Affordable Housing Fund. Robust pipeline of 24 properties, representing 2,068 units and approximately $1.26 Billion in total project costs. Successfully sold 1 land parcel and syndicated 5 properties in 2025 where construction commenced. Secured federal tax credits and bonds for 10 properties.
Private Credit
Rose Capital Advisors has been investing in the private credit asset class for over a decade. Coming out of the great financial crisis lows, risk assets (particularly growth equity) produced double-digit returns with muted volatility. Private credit during this same timeframe, as represented by the Cliffwater Direct Lending Index (CDLI), produced strong non-correlated returns in the high single/low double-digit range, but more times than not, served as a performance drag for investors when compared to risk-on assets. Markets can be sobering, and it is during environments like 2022 and Q1 2025 investors are reminded it is important to implement a top-down portfolio construction framework that has components able to perform in various cycles and market characteristics. This all-weather framework is what Rose Capital Advisors seeks to implement on behalf of clients and private credit was an allocation in 2022 that outperformed nearly every asset class both on an absolute and relative basis.
• Private Credit (CDLI) is expected to produce high single digit returns in 2026
• Floating rate nature neutralized duration risk
• EBITDA and asset value inflation provide more security for lenders
• Unwinding of unrealized losses and work through of higher rates into loans should provide a tailwind to returns
• Private Credit (CDLI) unlevered 10-year annualized expected return1 (6.85%) / risk (<5%)
• Manager selection and portfolio composition are paramount
• Focus on senior, covenant heavy, low EBITDA leverage loans
• Expect higher than historical reference rates and wider spreads
Rose Capital Advisors Vintage Fund I – 2025 Update
Calendar year 2025 marked continued progress for Rose Capital Vintage Fund I (RCAVF-I). During the year, the Fund advanced its investment program through commitments to established private market managers, diversified across vintage years, strategy, and geography. The portfolio is now well into its investment period, with 43.5% of capital called and actively deployed, and underlying managers executing their respective investment strategies. From a portfolio perspective, the Fund has experienced early positive momentum, with gains driven by multiple sources including cash distributions, dividend recapitalizations, realizations, and periodic valuation mark-ups. As of September 30, 2025, the Fund’s inception-to-date value reflected an approximate 1.33x markup on contributed capital, supported by broad-based activity across managers rather than reliance on any single investment or strategy. While still early in the Fund’s lifecycle, we are encouraged by the pace of deployment and the diversity of value creation underway across the portfolio.
The Fund is scheduled to hold its final close on February 28, 2026, coinciding with the two-year anniversary of its launch. Subscriptions will continue to be accepted through the final close. We also expect to return to market later this year with Rose Capital Vintage Fund II (RCAVF-II).
Why vintage funds?
A vintage fund approach is designed to reduce timing risk by committing capital across multiple managers and strategies within a defined period rather than relying on a single market entry point. This structure seeks to smooth return outcomes across market cycles while improving diversification, pacing, and capital deployment discipline. Additional detail on select underlying managers is provided below.
Hunter Point Capital – GP Stakes
Hunter Point Capital has been highly active across the GP stakes landscape. The firm focuses on acquiring minority interests in established private market managers, seeking to generate durable cash flow and long-term value through diversified exposure to management companies. Recent portfolio developments include investments in platforms such as Nuveen Private Capital, and Bayview Asset Management, and the recently announced sale of Coller Capital to EQT, representing Hunter Point’s second full exit. We view GP stakes as a differentiated return driver within the Vintage Fund, offering exposure to management-fee and performance-fee economics alongside the potential for earlier and more consistent cash flow relative to traditional private equity structures.
Inflexion Partners – European Growth Equity
Inflexion Partners Partnership III is a European middle-market fund focused on minority investments in established businesses, emphasizing partnership-oriented growth strategies. The fund remains in the early stages of its investment period, with capital deployed across an expanding set of portfolio companies. During 2025, Inflexion completed two new acquisitions, further building exposure across the UK, Belgium, and the Netherlands. Investments span sectors including healthcare technology, financial services, and industrial services. We view Inflexion’s disciplined approach to minority ownership with sector and geographic specialization as a complementary element within the broader Vintage Fund portfolio.
Pathway Capital Partners – Co-Investments
Pathway Capital Partners recently completed the final close of its most recent fund and continues to execute exclusively across its co-investment mandate. As of year-end 2025, the portfolio reflected diversified exposure across managers, sectors, and transaction types. Pathway’s platform provides access to seasoned private equity co- investments alongside leading sponsors, allowing the Fund to participate directly in underlying companies usually on a no-fee/no-carry basis, while maintaining disciplined portfolio construction. During the year, Pathway Capital itself was acquired by Clearlake Capital Group, further strengthening the platform’s institutional backing and access to proprietary deal flow. Portfolio exposure includes investments in companies such as Authentic Brands.
Saints Capital – Venture Secondaries
Saints Capital continues to be selectively active in the venture secondary market, focusing on acquiring interests in later-stage venture-backed companies. The strategy emphasizes disciplined entry pricing, portfolio construction, and diversification across companies, sectors, and maturity profiles. The underlying portfolio includes early interests in companies such as Turo, Zefr, LiquidSpace, Zocdoc, Vector AI, and Aria, among others. We view venture secondaries as a differentiated component of the Vintage Fund, offering the potential for shorter duration exposure and selective liquidity relative to primary venture commitments.
To join an upcoming webinar or receive access to our data room, please inquire.
Click here to view our press release detailing our strategic partnership with Allocate who helped us launch!
*There is no guarantee that the investment objectives will be achieved. Moreover, past performance is not a guarantee or indicator of future results.
STANDARD OF CARE MODEL
In our ongoing commitment to providing unparalleled financial guidance, we are excited to share how our innovative approach, inspired by industries renowned for their safety and precision, continues to evolve. Through collaboration and the experience of Ken Haman with Alliance Bernstein’s AB Advisor Institute, we have embraced a higher Standard of Care model which enables us to externalize a professional point of view based on extensive research and experience.
Just as pilots rely on preflight checklists and surgeons rely on pre-op checklists to help ensure success, we employ age and wealth specific checklists tailored to your unique life stage. Checklists Include:
1. New Parents
2. Midlife
3. Pre-Divorce
4. Eldercare
5. New Widow(er)
6. Inheritance / Sale of Business
7. Overall Financial Plan (100+ point checklist)
Your personal checklist becomes a shared vocabulary, facilitating communication and understanding between us. Whether you’re on a standard comprehensive plan, or deviations prompt discussions on new strategies, the checklist becomes a dynamic tool for continuous improvement and alignment with your financial goals.
How You Can Benefit
We encourage you, as well as your friends and family, to reach out to us whenever you encounter any of these significant life or wealth events. Our team is here to serve as your trusted resource and sounding board, providing expert advice and personalized solutions tailored to your specific circumstances. By leveraging our checklists and engaging with us during these pivotal moments, you gain:
Peace of Mind: To navigate life transitions with confidence, knowing you have a comprehensive financial plan in place.
Expert Guidance: Potentially benefitting from our experience and industry insights as we guide you through the complexities of each life event.
Customized Solutions: Receiving personalized strategies that align with your unique goals and aspirations.
Your financial journey is our top priority, and we are dedicated to ensuring that you have the support and resources needed to thrive at every turn. Reach out to us at any time to explore how our checklists can be tailored to your specific needs or the needs of those close to you. As we embark on another year together, we look forward to continuing our partnership and helping you achieve financial success.
SOCIAL MEDIA
2026 INVESTMENT OUTLOOK
The overall outlook continues to suggest that investors and advisors focus on diversification, patience, and an appropriate management of expectations.
We believe our client portfolios are appropriately allocated to take advantage of these themes, while remaining prudently diversified if market conditions take an unexpected path.
MARKET COMMENTARIES & OUTLOOK
Rose Capital Advisors: 2025 Review 2026 Outlook
Market Commentary & Outlook
Additional Commentaries:
J.P Morgan: Guide to the Markets 1Q 2026
