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Felipe
@PhilCrypto77
RT
@chamath: Private credit is eating private equity. The implications are quite profound for the American economy. PE has had a very poor return profile over the past 5+ years. Very little DPI send back to LPs, including me! Meanwhile, Private Credit hums along and generates great returns that are the same or better than PE and gives me cashflow. But if money flows out of PE and into PC, where does PC invest as their PE customers retrench? My suspicion is they move aggressively to compete w PE and fund companies to stay independent vs financing PE firms to do go-private transactions. This is healthy and good for the US economy. Net negative for PE GPs and LPs. Net positive for PC investors. We will see more companies stay public longer vs the shrinking number on stock exchanges and we will see private companies stay private longer and not bother to go public at all. No crying in the casino! Good luck to all the players!
@chamath: Private credit is eating private equity. The implications are quite profound for the American economy. PE has had a very poor return profile over the past 5+ years. Very little DPI send back to LPs, including me! Meanwhile, Private Credit hums along and generates great returns that are the same or better than PE and gives me cashflow. But if money flows out of PE and into PC, where does PC invest as their PE customers retrench? My suspicion is they move aggressively to compete w PE and fund companies to stay independent vs financing PE firms to do go-private transactions. This is healthy and good for the US economy. Net negative for PE GPs and LPs. Net positive for PC investors. We will see more companies stay public longer vs the shrinking number on stock exchanges and we will see private companies stay private longer and not bother to go public at all. No crying in the casino! Good luck to all the players!
@chamath
Private credit is eating private equity.
The implications are quite profound for the American economy.
PE has had a very poor return profile over the past 5+ years. Very little DPI send back to LPs, including me!
Meanwhile, Private Credit hums along and generates great returns that are the same or better than PE and gives me cashflow.
But if money flows out of PE and into PC, where does PC invest as their PE customers retrench?
My suspicion is they move aggressively to compete w PE and fund companies to stay independent vs financing PE firms to do go-private transactions.
This is healthy and good for the US economy. Net negative for PE GPs and LPs. Net positive for PC investors.
We will see more companies stay public longer vs the shrinking number on stock exchanges and we will see private companies stay private longer and not bother to go public at all.
No crying in the casino! Good luck to all the players!
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