Over My Shoulder

Why large funds are piling into PE & VC

October 26, 2015

Jawad Mian and I have been comparing notes on pension issues. He sent this piece, which I forward to you. My letter last weekend talked about the problems with pension funds. They are well aware (or should be) that traditional portfolios will be challenged. Which is why they are piling into alternatives and why alternative returns are thus being pressured, because too much money is seeking higher returns and thereby driving returns down. It becomes a vicious circle.

Download - Ecstrat_%E2%80%93_Why_large_funds_are_piling_into_PE__VC.pdf