Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
Private equity firms’ struggle to raise capital for new funds has reached a new high: they are taking their existing limited partners (“LP”) hostage. Now, LPs seeking to sell their interest in the secondary market may only do so if the buyer commits capital to the general partner’s new fund. Extortion has become the new fund marketing tactic.
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