K-1s are late, your CPA is waiting, and you are not sure what you actually need to hand over. Here is how to be the client your accountant appreciates — and what to ask before assuming your CPA has handled alternative investments before.
The preferred return is one of the most cited terms in private fund investing. It is also one of the most misunderstood. Here is what a preferred return actually means, how the waterfall works after it is met, and the scenarios where a pref provides less protection than investors expect.
Illiquidity is the first objection most investors raise about private markets — and, done right, one of the most under-appreciated advantages. Here is how experienced investors think about locking up capital, and when it becomes a genuine problem.
The PPM is the governing document for every private investment — and most investors never read it carefully. Here is what actually matters in a private placement memorandum, what you can skip, and the sections that deserve a close read before you commit capital.
The sponsor is the single most important variable in any private market investment. Here is a systematic framework for evaluating private equity sponsor track record, alignment of interests, and integrity before you commit capital.
The year you make a private market investment has an outsized impact on returns that most investors underestimate. Here is what private equity vintage year means, why it matters, and how to diversify across market cycles intentionally rather than accidentally.
LP interests in private funds pass differently than stocks and bonds. Most alternative investors have not thought carefully about what their heirs will inherit — or what their estate will be expected to do. Here is what to know before it matters.
The decision to add a new alternative investment looks different when you already have ten or fifteen positions. Here is the due diligence checklist experienced LP investors use before committing to something new — and the questions that matter most when you already have skin in the game.