“It’s always problematic if GPs don’t get LPs and vice versa. What’s worse than that is when they think they know but they don’t.”
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Ultimately, many allocators want to actively manage their PE portfolios, and are exploring everything from automatic secondary sales to third-party leverage, says TRS’s Scott Ramsower.
Cynthia Steer, an advisor to Institutional Investor, considers the losses to the industry of long tenured execs and the potential gains from the next generation.
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