“Where is our capital?”
Look buddy. We're not some mom-and-pop shop handing out pocket change every quarter like it's allowance day. This is private equity - big leagues, alpha moves only. See, we've got this killer strategy that’s really about to start cooking, and right now, it's all about compounding. Why cash out early? Markets are choppy, sure - blame the Fed or the consumer.
Other firms are struggling. But not us. We’re smarter than all those others. We're playing 4D chess here. Holding tight means bigger exits down the line, juicier IRRs for everyone. If you're jonesing for liquidity, go chase yields in bonds or whatever boomer stuff you do. Trust me, when we do distribute, it'll be yacht money, not bus fare. Capisce
This Bourbon was immaculate…
It’s just hard to explain it to someone who doesn’t understand bourbon the way I do (I recently went to a private small batch tasting in Aspen). I tried my best to explain it anyway.
Imagine the power you’d feel rolling up to a Penn State football game and telling everyone at the tailgate that you worked on the private equity deal to invest in the Big Ten.
The hardest part would be deciding if you should wear your Patagonia vest with your firm’s logo or your alma mater’s.
In case you missed it, there’s some controversy about the deal. USC and Michigan are thinking of stalling the deal or trying to end it altogether.
State school graduates can finally participate in Private Equity!
“As explored in a story last Friday at Yahoo Sports, the Big Ten’s year-long pursuit of private capital cash is nearing a decision. The league is in deep negotiations with its membership over a 20-year partnership with the University of California pension system’s investment fund, UC Investments.
The fund would infuse $2.4 billion in upfront, uneven payments to the Big Ten’s 18 schools (an average of $135-140 million per school). The league would secure a 10-year extension of the grant of rights (through 2046), create a business subsidiary (Big Ten Enterprises) and establish a new uneven distribution of conference revenues (three schools would get a slightly bigger portion than others).
It is a significant undertaking that, for the most part, many of its members overwhelmingly support.” - Ross Dellenger, Senior College Football Reporter, Yahoo Sports
What is your role?
I was shocked to see how many people in Palm Beach subscribe to the Boston Globe.
