Blackstone tried to securitise its ageing fund stakes. The market passed.
Investors were offered 12% to hold the junior debt on 700 ageing fund stakes and still said no. The liquidity providers have discovered they need liquidity.
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LPs now ask what AI will not make irrelevant.
Your conference recap post is a selfie with a lanyard.
Apparently, the quickest way to become an AI business is to replace “automation” in last year’s board deck.
