With the amount of secondaries that just happened into year end and how many of them relied on hidden leverage, there will be blood. So many funds have been deploying into investments without having finished calling capital, but relying on borrowing against those commitments (that have since been flipped since the initial LP).
With the amount of secondaries that just happened into year end and how many of them relied on hidden leverage, there will be blood. So many funds have been deploying into investments without having finished calling capital, but relying on borrowing against those commitments (that have since been flipped since the initial LP).