Knowledge Base
Tax strategy, healthcare before Medicare, the post-FIRE identity shift, and the financial decisions that get more complicated after you stop earning.
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DPI in private equity measures one thing with precision: how much cash has actually left the fund and landed in your account. Not marks. Not NAV. Not a GP's optimistic model. If your private equity allocation is material to your financial plan, DPI is the number that tells you whether the strategy i
The EIR venture capital role is a fixed-term arrangement, typically 12 to 18 months, where a seasoned founder embeds inside a VC firm to source deals, mentor portfolio companies, and develop a new venture the firm can back. It is not a job. It is a structured optionality play with real financial sta
Oaktree Capital Management manages over $192 billion in assets and built its reputation on distressed debt, not traditional leveraged buyouts. Before evaluating it as a portfolio allocation, you need to understand which Oaktree strategy you're actually accessing, because the firm's "private equity"
An MFN clause in private equity is a contractual provision that entitles an investor to receive any more favorable terms subsequently granted to another investor in the same fund. If the GP gives a later LP a lower management fee or broader governance rights, the MFN holder can elect to receive thos
Healthcare private equity has quietly become one of the most active corners of alternative assets, with global deal volume running into the hundreds of billions annually. For accredited investors evaluating LP commitments, the sector offers historically strong returns, but the dispersion between top
Vintage year is one of the strongest predictors of venture capital fund performance, but it is widely misunderstood. Funds that deployed capital in 2009 and 2010 delivered median net IRRs in the mid-to-high teens. Funds that closed in 2021 are facing median late-stage valuation markdowns exceeding 5
Working for a company owned by private equity is not simply a change in corporate ownership. For senior executives and high-net-worth professionals, it is a compressed wealth-creation window with specific tax structures, negotiation leverage points, and exit timing decisions that standard employment
Net multiple in private equity measures how many times an investor's capital was returned after all fees, expenses, and carried interest. A 2.5x net multiple means every dollar committed came back as $2.50 in your pocket, not on the GP's pitch deck. It is the most intuitive summary of whether a fund
Private equity incentives are the contractual mechanisms that determine whether your GP is genuinely rowing in the same direction as you. Carried interest, hurdle rates, waterfall structures, and clawback provisions collectively define who gets paid, when, and under what conditions. Getting these te
Private equity vs wealth management is not a close comparison for most $5M+ investors. Private equity is an asset class: you commit capital to a fund or deal, accept illiquidity for 5-10 years, and target outsized returns through operational improvement and financial engineering. Wealth management i
For investors operating at the $5M+ level, investment banking conferences are not about career advancement. They are about deal flow, LP relationship formation, and accessing co-investment structures that never appear in a fund prospectus. The question is not whether to attend, but which events are
Comparing hedge funds vs mutual funds vs private equity comes down to three variables that retail-oriented content consistently underweights: access thresholds, tax treatment, and liquidity structure. If you're sitting on $5M or more in investable assets, the standard advice written for accredited i