Rees: Traditional LP fund portfolios rarely outperform GP stakes portfolios
Michael Rees · Michael Rees – Inside GP Stakes at Dyal Capital (Capital Allocators, EP.278) · Oct 31, 2022 · at 47:15
Michael Rees discusses the risk-reward profile of investing in GP equity stakes versus investing directly as an LP into private equity funds.
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“It's hard to model a portfolio of LP interests, investing in funds, that will outperform a portfolio of investing in stakes.”
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