Marcia Page
18 statements across 1 episodes · 6 bullish · 0 bearish · 1 people on the record · first statement Dec 11, 2023 by Marcia Page · across every show →
On the record as a speaker too: Marcia Page's record, appearances and statements → this page counts the times other people say the name.
Everything said about Marcia Page, oldest first
Dec 11, 2023 positive
Page: Combining liquid and illiquid credit in one fund was innovative in 1993
“What if we actually brought our capabilities together in a new fund structure, and that we brought a relative value sensibility from liquid Traded strategies that I was particularly strong in all the way to the illiquid part of these loan portfolios and brough…”
Dec 11, 2023
Page: MPowered uses pre-fund co-investments to directly test managers' underwriting skills
“We will also look to do pre-fund deals with an individual manager to, in effect, underwrite shoulder to shoulder with that manager and really see the quality of their underwriting, their ability to think through enterprise value, be through a complicated negot…”
Dec 11, 2023 positive
Page: Ideal emerging managers combine investing expertise, operational exposure, and fundraising skills
“If we've got somebody who's got investment expertise, and has had some exposure to the operating side, the infrastructure side of their organization, and has had at least some exposure to the business development or the fundraising side, that is very, very att…”
Dec 11, 2023
Page: Cargill gave junior traders generous limits across credit and pensions
“We were all committing capital, so we were in a position to be able to commit capital on our own up to certain limits, so there was this concept of limits, basically, that created the way that we kind of went about the business, but they were pretty generous, …”
Dec 11, 2023 positive
Dec 11, 2023 positive
Dec 11, 2023
Page: Cargill ported commodity traders to arbitrage Treasuries and FX
“They basically were taking some of their best merchants of grain. Think of wheat and bean and corn traders who had phenomenal global experience in Arbitraging cash and futures and options and understanding how to trade on the world stage, and they ported them …”
Dec 11, 2023
Page: Early bank creditors were oblivious to emerging secondary debt markets
“I distinctly remember trading bank debt in a company called Revco, which is a defaulted drugstore chain. Bought it at about 50 cents on the dollar, went to a bank debt meeting, I believe it was in L.A., Everybody at that table was, why is this person here from…”
Dec 11, 2023
Page: Multi-year restructurings require dedicated fund structures to avoid asset mismatches
“To have the ability to have the time to do a proper restructuring and or the staying power definitely requires the right kind of fund structure. Sometimes it's the mismatch in that funding structure against what you're trying to accomplish over a multi-year pe…”
Dec 11, 2023 neutral
Dec 11, 2023
Dec 11, 2023
Dec 11, 2023 neutral
Page: Culture alone is not sufficient to achieve organizational diversity
“People are fond of saying that culture eats strategy for lunch, but I've now suggested that culture is necessary, but not even close to sufficient when it comes to achieving diversity in an organization. You need to be super, super intentional.”
Dec 11, 2023 positive
Dec 11, 2023 neutral
Dec 11, 2023
Page: KKR's RJR buyout created continuous capital structure pricing dislocations
“When RJR was acquired by KKR, literally one of the largest LBOs at the time, they had one of the most complex capital structures that I had ever seen. It was filled with subordinated debt and paying kind bonds. It was a huge structure and a relatively small ma…”
Dec 11, 2023 positive
Page: Värde transitioned partner economics via declining interest rather than buyouts
“So there isn't a buyout per se for the next generation of partners, but rather a declining interest in the firm and enormous amount of skin in the game as to the underlying economics over that period of time. That's what allows economics to free up, such that …”