pensions

“There's no way pensions are going to be able to even come close. They're not even to be able to pretend that they can anymore.”

“First, we've noticed that slightly more mature GPs that might have two or three billion in AUM are still interested in this value proposition because if they can get a catalytic investment from their ideal client base, which is large pensions and sovereigns gl…”

“The reality was in the financial crisis, endowments and pensions were net sellers, not net buyers.”

“Just as we're sort of achieving that, I'm going to turn around and go back to them and say, we need technologists, people who've built data infrastructure. We need the right skills on these boards. If you're going to make a hundred million dollar investment in…”

“If you only invest in fund three, you've decided you're going to overpay for managers because they don't need your money.”

“Very few pensions are going to copy a development fund that is delivering two percent return. But if there's a development fund like a Tomasek that is out there driving really high performance, then all of a sudden they could become a role model that gets copi…”

“The average hedge fund out there, down the fairway hedge fund, us dumb pensions did the wrong thing by incentivizing them to run lower vol and take in more assets and collect that management fee.”