private assets

“We went back and looked at, you know, that profile of traffic, and it fell off About three to four months before the GFC, it actually fell off a cliff, and it's sort of one of those things that within our wider QIC business we're becoming more aware of is the …”

“Privates are about half of the portfolio now, and so those are some things that I think given the risk culture at Duke, we're able to do.”

“We view private assets as not asset classes. We view the private assets as another way to access active management or alpha.”

“The tracking error that we're generating from our private assets, a good chunk of that is really this lagged effect relative to our public market equivalents. It catches up over a three-year rolling, a five-year rolling period, but that's really where the slip…”

“I'm even concerned that there are some large institutional investors who would be willing to pay up for the accounting stability of private assets, which might In some points of the cycle, induce a negative illiquidity premium.”

“Apples to apples comparisons, you've typically over a full cycle been able to generate two, 300, or even more basis points of incremental return in a private asset versus a public asset.”

“Despite how much the exposure, I will say, on an insurance company's balance sheet to private assets, it's still largely liquid assets.”

“Private assets don't get marked at all, and that doesn't make them less risky. In fact, they're probably more risky, typically, than a public market equivalent.”

“Traditional asset managers, i.e. Mutual funds, ETFs, they're gonna start injecting some amount of private assets blended into their products.”

“And for one K is going to open up to private assets. That's a 13 trillion dollar market that has essentially zero private assets in it.”

“Historically, endowments have done a great job of that, but in the last 10 or 15 years with the obsession of private assets, that tool has been taken out of the toolkit.”

“We only have about 20 to 25% of our portfolio in private assets.”

“When I got to NYU, less than 15% of the endowment was in private assets.”