The Ledger
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Kwatra: South and Southeast Asia offer China's prior decade J-curve growth
“China's already large. It'll grow fine. But do you get that same J curve effect? Probably not. And that's where these markets are today.”
South and Southeast Asia benefit from Chinese economic turbulence, says Kwatra
“I think it's actually a misconception that if China goes through difficulty, so does South and Southeast Asia. I think actually South and Southeast Asia are big winners when we are seeing turbulence”
Kwatra: Sixteenth Street Capital requires an IRR hurdle rate north of 25%
“We do have quite a high IRR hurdle rate. It's north of 25%.”
Kwatra: Internal fund incubations fail over size and brand ownership caps
“The first step was to launch maybe with Print Street, but it became very clear that launching a fund within a large organization wasn't going to work for the long term, which is all that matters to me. Size was capped. There was not full ownership of the brand…”
Kwatra rejected half of a $50M anchor offer due to market volatility
“I only took twenty five million of it up front, and then ended up calling for twenty five million at the end of 2018, because it was turning out to be quite a volatile year and start to the fund, and I think really did right by them long term, as well as all o…”
Kwatra has seen zero allocations driven purely by female manager mandates
“I definitely have not seen an allocation because somebody was looking directly for a female manager, and I would think that if some of that is closer to action stages, then we would be a great candidate.”
Training bottlenecks restrict Vietnamese IT outsourcing firm to 25% annual growth
“We own a company in Vietnam. It's an IT outsourcing company, and the company cannot hire enough developers to meet demand, so they're growing 25% a year because they can only train that many developers”
Ellison: University of Illinois layered $5M monthly into Sixteenth Street Capital
“We were going to start with a fairly good allocation, but we thought we'll stay about 10 to 15% of her total fund assets. So I started layering in, I think I did like five million every month for the first five, six months.”
Kwatra: Sixteenth Street Capital holds approximately 40% of its portfolio in India
“So we have about 40% of our book in India, and it's the fact that ultimately we are looking for great companies that have long runways to really compound capital, and today India is a deeper market. There are more than 3000 listed companies, and so our ability…”
Kwatra launched Sixteenth Street Capital with $10 million on day one
“I launched day one with ten million dollars, primarily my own capital and capital from my former partners and fund managers in the region, but I reached back out to one of the investors that was not a Prince Street LP that was interested in coming in day one w…”