The Ledger
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Rees: Large Private Equity Fund Returns Defied the Conventional Scale Penalty
“While there was this prevailing wisdom that as firms got bigger, the returns would suffer the last several years. Was antithetical to that.”
Rees: Dyal has completed 19 of 22 GP stake deals over $600M
“And so in our world where we've done, I want to say, 19 of the 22 deals above six hundred million of check size. So we have a high eighties percent market share.”
Rees: Lehman Took 20% Minority Stakes in GLG and D.E. Shaw
“Every time we did one of these minority stakes in hedge funds, we started with GLG and then we did a firm Called Marble Bar and Osprey and D.E. Shaw. We were doing a lot of work in a lot of other areas, and these 20% stakes in hedge funds were paying the bills…”