The Importance of Diligence

"We're not big. I don't read the paper," he says, "but we are reading more in depth overviews of these things rather than the noise every day." He's looking at industry diversity and market diversity as well as time diversity to make sure his fund isn't over-levering or overpaying for deals. A lot of funds right now put in the money to work really fast coming back to raise that next fund,. It's a great way to pile fees on top of fees.