buyout fund

“The concept of The foundations being really steady and reliable sources of capital was prevalent, and everybody believed that. It changed after 2008 when people were not as stable of source of capital, but at the time, every buy-out fund wanted foundations in …”

“If you think about that, I mean, a large buyout fund in the late nineties was a billion dollars in size.”

“And if you look at history and you cut out the most recent vintages that are not mature, but look at the 20 years of vintages before that, and you look at buyout funds versus a public market equivalent like MSCI World, the median buyout fund has outperformed t…”

“So on average, we're averaging about 10 to 15 venture funds per year. And six to eight buyout funds per year.”

“What gets the buyout fund in a lot of trouble is just leverage. The companies still survive. They just over lever the business.”

“So if I take the 90 as a whole pie, a hundred percent, probably 55% of that pie is venture. And then the other is split evenly, roughly, between growth equity funds and buyout funds. We don't touch any real estate. We do very little in the energy space.”

“In many cases, if you'd step back and say, the typical buyout fund has 10 investments in it. If it produces a median return, it's likely that there was a bell curve distribution of deals. We're fine. If it produces an outlier return, it's likely that one deal …”