Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The investment performance potential of business development companies (BDCs) has been validated by the surprising requests of institutional limited partners in private credit funds, partnerships deploying the same investment strategy as BDCs. The atypical action should be described as a “man bites dog story”. Recently, limited partners have demanded that the funds’ hurdle rates of return, the minimum rate of return that must be earned before the general partner earns its carried interest or profit participation, should be increased because the funds are making too much money in the current interest rate environment.
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