The Ledger
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Perpetual Private BDC Redemption Requests Have Exceeded Standard 5% Limits
“And basically a lot of in the perpetual private BTC space, the amount of money people have asked for has exceeded what is the five percent limit.”
Alternative Asset Manager FRE Multiples Expanded From 10x to 30x
“These things for our industry started, you know, traded between in, let's say, early 2010, call it 10 to 15 times FRE. In 2018, when all this started, it stepped up to call it 15 to 20 times, obviously depends on the comp set. And before this current moment, w…”
Sixth Street formed a $20 billion joint venture partnership with Affirm
“You know, we did the affirm affirm, you know, Max Levchin's company. You know, we did a twenty billion dollar partnership with them. Where we formed a joint venture with them so they could originate more assets and have more operating leverage.”
Private Capital Assets Grew From $2 Trillion Pre-GFC to $15 Trillion
“Private capital from pre-GFC to post-GFC is about two trillion pre-GFC. It's grown to four, around 14, 15 trillion.”
The Private Credit Market Expanded From $500 Billion to $2 Trillion
“Private credit, which is in the news today grew from five hundred billion to about two trillion, what it is today.”
Retail wealth investors allocate only 3 to 5 percent to private alternatives
“You know, they're relative to just a traditional, in their private portfolios, they're underexposed to private alternatives relative to, say, a pension fund at, call it 40%, or an endowment at 50%. So at three to five percent, that should probably go up.”