CURRENTS
Latest Research
A Roach Motel or Just Market Noise?
Building on our zombie fund research, our latest white paper turns the flashlight towards private credit. Using data on US private credit funds from 1998 to 2025, we identify the metrics LPs can use to spot "Roach Motels" – where capital checks in, but does not check out.
Past Research
Have You Seen The Dead Walking? A Zombie Fund Story
Continuing on our previous research, this white paper provides context on the growing universe of zombie funds and, importantly, the key metrics that LPs can utilize to identify them.
No Country For Old Funds
As a follow up to our previous research, this white paper updates our analysis of tail-end private equity portfolios with a focus on US Buyout funds.
Revenge of the Clawback - $25B+ Problem?
Upwelling has released a research report that provides insight into the current risk of clawback in private markets. The report also details preventive measures and remedies available to LPs and GPs.
Archived Research
Liquid Courage Podcast
Upwelling Capital is a partner to the Liquid Courage Podcast, offering regular deep dive conversations into growth and liquidity strategies in the rapidly expanding secondaries market.
