dry powder

5 statements across 5 episodes · 1 bullish · 3 bearish · 4 people on the record · first statement Jun 12, 2017 by Larry Kochard · said 1 times in 1 episodes since 2025 · across every show →

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Everything said about dry powder, oldest first

Jun 12, 2017 bearish
Assertion Supported
Kochard: Private equity multiples are rising due to excessive dry powder
“Right now multiples have been increasing across really every private, just about every private strategy. And they're increasing because there's so much dry powder out there and people are just, you know, putting it to work and paying more and more and more.”
Larry Kochard Jun 12, 2017 ▶ 41:09 Larry Kochard – Endowment Professor (Capital Allocators, EP.11)
Apr 12, 2021 bearish
Insight
Liow: Holding cash is a mathematical drag on 20% compounders
“Always love to hold a little bit of dry powder. It's very expensive when you're compounding at 20 plus percent. And history will tell you the math is severely against you.”
Yen Liow Apr 12, 2021 ▶ 23:17 Yen Liow - The Quest for the Right Tail at Aravt Global (Capital Allocators, EP.188)
Jan 10, 2022 bullish
Prediction Not checkable as stated
Venture dry powder will support top startups even in a 40% downturn
“In the venture world, we've got an incredible overhang of capital. And a lot of new entrants who are here for good, and even if tomorrow the market went down 40%, you still have an incredible amount of dry powder ready to support the best companies.”
Chris Douvos Jan 10, 2022 ▶ 39:28 Chris Douvos – The LP's Perspective from Ahoy Capital, Venture is Eating the Investment World 2 (Capital Allocators, EP.230)
Feb 27, 2023 negative
Opinion
Douvos: Mega-funds must deploy dry powder to unlock raising next funds
“Like they have whole business models that are predicated on raising, you know, kind of spinning that black circle over and over and over. Other people's money, OPM, it's a hell of a drug. And so I think they've got to deploy that capital because it's a gating …”
Chris Douvos Feb 27, 2023 ▶ 29:52 Venture Capital Panel – Beezer Clarkson, Chris Douvos, and Joelle Kayden (Capital Allocators, EP.299)
Apr 7, 2025 neutral
Assertion Supported
Marks: PE amassed $2.5T in dry powder and most remains uninvested
“The money gushed into private equity, and they got up to two and a half trillion or so of what we call dry powder, money waiting to get invested, and I think most of that is still dry, if I'm not mistaken.”
Howard Marks Apr 7, 2025 ▶ 36:13 Howard Marks – Navigating Private Credit (EP.439)
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