private equity GPs

“The dividend recap of a private equity portfolio seems like a gimmick to juice distributions and IRR so the GP can ask for a commitment to its next fund. In fact, NAV lenders are pitching this concept to GPs as part of the value proposition for accepting a loa…”

“Borrowing to do more deals is the ultimate misalignment of interest. If a GP is out of dry powder and unable to raise money, the market has told that GP that it's not supportive of their future deal-making ability. Their response of using more debt to reload i…”

“We found that the risk appetite of those investment committees when you're serving as a fiduciary for an institution was lower than for many of our private equity GPs.”