Cooper: Mutual funds must buy late-stage private assets to beat benchmarks
Scott Kupor · a16z Podcast | The Rise of the Quasi-IPO · Jan 2, 2019 · at 11:39
Scott Cooper of Andreessen Horowitz analyzes the structural shift driving non-traditional institutional public market managers to invest directly in late-stage venture capital rounds.
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“I'm Fidelity, or I'm Wellington, or I'm, you know, T. Rowe Price. I've got to be able to beat my S&P 500 benchmark. I can't do that by buying, you know, kind of large cap incumbents in the public market. And so an option for me to actually buy growth is go deeper into the private markets to actually look for that growth.”
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