Seel: The risk is just too high by default, that they basically will only do it for people they've known for twenty years. Seel: If you're some giant school's endowment and you say no to cliners, you know, sixth new fund in your mind,. thit's what they've told me, at least i'll take cliner out of it. So essentially, these giant funds have taken all the air out of the room with that set of lps which then leads us to be independent of them.
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