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There are a few potential misalignment of interests between managers and investors of evergreen funds. We've already seen what happens when investors, who seem to always want to sell at the same time, come into conflict with a fund that owns assets meant to be held long term. And while evergreen funds aren't necessarily more expensive than closed-end counterparts, the devil is always in the details.
Read MoreSuccessful Venture Capital requires exposure to the statistical outliers. This typically means allocating more capital to funds that are smaller, more concentrated, and may be run by managers with limited track records. As a result, VC may not be suitable for every investor. Click here to read more about how we view the asset class and approach portfolio construction for patient capital.
Read MoreThe illiquidity premium has nothing to do with holding period. Rather, it exists in areas where capital is less abundant. Lately, however, there’s no shortage of cash flowing into private investments as retail and institutional investors alike have upped their deployment into venture capital and private equity. Fortunately, it’s not too late to find opportunities, as long as investors’ remain judicious and follow a disciplined process.
Read MoreWhile some LPs may applaud Sequoia’s move to consolidate investments into an open-ended vehicle, blurring the lines between what makes a private market and public market manager successful may only lead to disappointing results.
Read More“What percentage of my portfolio should be allocated to alternative investments?” To answer this, many allocators turn to the “Endowment Model” as a guide. Unfortunately, for the high-net-worth investor with unique needs and preferences, the Endowment Model isn’t a one-size-fits-all solution. And unlike public market investments where you can quickly deploy capital, alternative investments require an active liquidity management strategy to balance target allocations. This article talks about a few key points to consider when committing to illiquid private market investments.
Read MoreAfter reviewing thousands of prior investments, financial advisors often develop a good “feel” for what sets a good deal apart. However, experience and common sense analysis is simply not enough. It certainly helps, but where’s the accountability in that? At SineCera Capital, we’ve established written policies and best practices that cover both the art and science of investment due diligence.
Read MoreThe public’s interest in bitcoin, and digital currencies in general, has never been higher. But there’s one digital asset class that may have the most staying power – NFTs (Non-Fungible Tokens).
Read MoreIn today’s market environment, providing investors with clarity is easier said than done, especially when it comes to private market investments. While we’re still in the early stages, here are some thoughts to help investors prepare.
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