Performance, income, tax, capital, and the mechanics of private market investing.
Interval funds, BDCs, non-traded REITs, '40 Act funds — the terminology around semi-liquid private market investments is genuinely confusing. Here's a plain-English breakdown of what each structure actually is, what liquidity it offers, and what the fine print says about getting your money back.
Something looks off in your fund's quarterly update. Distributions have slowed. A portfolio company missed its numbers. A large economic event just hit the sector. Here's how to think about when to pick up the phone — and when to sit tight.
You committed capital to a private fund. Now you wait — sometimes for years. Here's how experienced investors think about illiquid positions, what to actually look for in quarterly updates, and why the urge to constantly check on locked-up money is both natural and worth resisting.
Every alternative investor eventually encounters an investment that does not go as planned. Here's what actually happens when a private fund faces distress — and what your options are as a limited partner.
The traditional 60% stock / 40% bond portfolio has been the default for decades. A stretch of markets where both fell simultaneously has forced a rethink. Here's what that means for investors considering alternatives — and what the data actually shows.
Illiquidity is the first objection most investors raise about private markets. It is also, when structured correctly, one of the most underappreciated advantages. Here's how experienced investors think about locking up capital — and when illiquidity becomes a genuine problem.
The sponsor is the single most important variable in any private market investment. Here's a systematic framework for evaluating track record, alignment, and integrity before you commit capital.