Asset Managers Are from Mars, Investors Are from Venus (Part 1)

I feel I have been thinking about this for a long time and hinted to at least part of it here and there…. But I realize I have never spelled it clearly, or not in a language that would have been easy to understand for everyone.

Stranded Capital, Fire Sales Or….

I wrote in my previous post that actual durations of PE funds are longer than those that are the perceived industry standards. The 14-year number reported in the headline of an article of a recognised magazine is a different thing, but it ties well and allows some reasoning about LP extensions, fire sales and the possible rational alternatives for investors.

No Liquidity without Price

The title of last week’s PEI‘s Friday Letter, “No Dice without Liquidity”, identifies the critical element determining the reported decision of KKR to stop promoting two retail products.