Le blog de Keyvan Nilforoushan

Super LP ( Speak Like the Locals

These traces all represent Poisson distributio...
Image via Wikipedia

Bon article sur la dissonnance entre le vocabulaire des fonds de Private Equity et celui des gestionnaires d’actifs qui y investissent. Vaut la lecture ne serait-ce que pour cette phrase :

Asset allocators live in worlds of probability distributions, observed risks, and well-established performance calculation; they measure and predict performance.  By failing to give thought to their metrics, we are perceived as soft and non-rigorous.  (…)

Remember, PE is a return enhancing asset, one that must be considered in the context of the opportunity cost of equity capital; for asset allocators that cost includes the drag from the cash they have to keep at the ready for PE capital calls.

via Super LP ( Speak Like the Locals.

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