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Promote Crystallization

Promote Crystallization

I recently released a video discussing alignment of interest (or lack thereof) in partnership structures which often incentive the sponsor to sell quickly while investors may prefer to actually stay in the deal for...

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Should Sponsors Offer Discounts?

Should Sponsors Offer Discounts?

I am often asked by aspiring sponsors whether they should lower their fees and/or promote in order to attract investors. While I do think it makes sense to have an attractive deal structure so as to not create a...

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Exit Test

Exit Test

Some risks are binary while others are not. Binary risks are ones in which a situation really only has two outcomes, success or failure. For example, entitlement risk is often a binary risk in a development project....

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