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Sebastian Mallaby

Undertone

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Private Markets vs Public Markets: Inefficiencies and Incentives

Exploring the reasons behind high fees in private equity, toxic and benign incentives driving the shift towards private markets, and the role of private equity in aligning incentives for better management practices. The chapter also discusses the concept of illiquidity premium and how institutional managers seeking comfort in illiquid assets may hinder efficiency and equity in capitalism.

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