Tag: private equity
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Episode 10: Why Equalisation Exists – Why Fairness Matters Among Investors
Why should investors who enter a fund at different times be treated fairly? This article explores equalisation, funding costs, and the broader question of fairness among LPs in private fund structures.
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Who Are Fund Reports Really For?
Comparing Japanese LPS reports and ILPA Reporting Template 2.0 through the lens of investor decision-making. Why reporting is not about compliance alone, but about creating trust and supporting capital allocation.
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Episode 9: Why Waterfalls Exist
Waterfalls are often described as distribution mechanics, yet their real purpose is something deeper. They are incentive architectures designed to balance the interests of GPs and LPs. This article explores the history and logic behind the structures we see today.
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A Map for Understanding Traditional and Alternative Investments —
Traditional and alternative investments are not separate worlds but a continuous landscape shaped by liquidity, information asymmetry, and corporate growth stages. This article offers a structural map of the investment universe — from public markets to private equity and venture capital — and provides a perspective for understanding where you stand and how to define…
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Episode 4: Why Japan Loves Unit Trusts (again) — and When Partnerships Work Better
A clear comparison of Japan’s unit trusts and partnership structures. This article explains how history, liquidity, tax treatment, and investment targets shape the choice of vehicle for practitioners and international readers.
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Episode 1: What Is a Fund? A Simple Introduction as a business
ファンドって難しそうに見えますが、実はとても身近な仕組みです。投資家と運用者の視点、そして「ファンドは事業である」という本質を、やさしく噛み砕いてお話しします。