E69: How Texas Municipal Retirement System Deployed $1B into Venture Capital
How I Invest with David Weisburd
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Consultant Incentives and LP Decision Making
The chapter discusses the misalignment of incentives for LP consultants, who are typically paid on a retainer basis, leading to challenges in achieving high upside outcomes. It also explores the rationale behind LPs investing in second quartile funds and the financial reasoning behind such decisions.
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