Capital Recycling

“And this is a teachable moment for me because next time, if the risk is that I only make two or three X, quickly, not after five years, then I should have done it. And I'll tell you why, because I totally forgot that I could recycle the money. So in the unfort…”

“I don't consider it a bulk part of the strategy because let's be honest, my numbers call it on a fund are driven by my initial investment picking. So picking is the primary thing I do. If I pick really well, I should generate great multiples and liquidity for …”

“Everyone wins with recycling. It's so good for your LPs. It's additional investment dollars that they're not paying management fees on, and so over the course of a fund, if you take gains and you reinvest it, that's more money that you're investing that lowers…”