The Four Dynamics Shaping Global Private Markets
Four trends in private markets present urgent and existential risks to fund managers. It is time to take action.
The Global Market for Talent
Elite labor is increasingly tradable. What does that mean?
The DAO of (Risk) Capital
Will decentralized autonomous organizations disrupt the VC / PE model?
The Winner-Take-Most World
KKR collected $1.4B in management fees last year?
The Boring Twenties?
Everyone’s expecting it to be the Roaring Twenties. But what if the Roaring decade already happened? And you missed it?!
Stonks
The digitization of assets and investor psychology. Also: Ludovic Phalippou; The SEC; Beach Reading; David Bromwich.
Image and Reality
The illusion of prosperity amidst economic destruction. Marc Andreessen’s “It’s Time to Build.” Actis and KKR. Barbara Tuchman.
Chasing Profits
Is the institutionalization of asset management leading to less innovation? Also: WeWork + SoftBank; European Buyouts; China; Fund Terms; Governance; Henry Adams.
The Great Wall of Capital
Asia has subsumed everything; very bad news; China’s private sector; Factfulness; Lucretius.
An Extractive Industry
The Toys “R” Us bankruptcy prompts a jeremiad on LBOs; Abraaj: Redux; CEE; India; Turkey; Grapes of Wrath
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