Inside the Mind of a Private Markets Investor
👋 Welcome to Accredited Investor Insights!
Accredited Investor Insights is one-of-a-kind: the only independent voice offering a perspective from the LP seat. We cover the good, the not-so-good, and everything in between (along with useful resources like articles and reports), drawing on insights from hundreds of deals and numerous conversations with sponsors, LPs, and service providers.
I’m Leyla Kunimoto, founder and chief editor. I’m also a retail investor, - the quintessential “dumb money” now being targeted by every major asset manager in the push to “democratize access to alts”.
When I first started learning about private markets, the information asymmetry was shocking. That experience is what ultimately pushed me to start writing about them publicly.
I have a background in finance and genuinely enjoy reading the footnotes to financial statements. My goal is simple: if access to alternative investments is being democratized, knowledge about them should be too.
I write about private equity, private credit, and real estate, and the practical realities of evaluating alternative investments from the LP perspective.
I began investing in public markets in 2001 and expanded into private markets in 2020. My current holdings span real estate across multiple asset classes and private credit funds.
🎙️I’m terrible at sharing podcasts I appear on, so I’ll start adding them here (click on links to listen):
Morningstar: here’s my argument that private markets need stronger, more independent investor voices because current performance measurement, disclosure, and liquidity practices often favor sponsors and obscure risks for limited partners. We cover a lot of ground: from PIK interest to evergreen vehicles.
Nothing Ventured: we discuss GP-LP dynamics, VC funds, and continuation vehicles.
Debt Serious: a conversation about interval funds, secondaries, and non-traded BDCs.
📌 A quick note: we have never promoted GPs, and we don’t intend to start. That independence allows us to provide objective, unbiased education and analysis. There are too few independent voices in this ecosystem, and this newsletter will remain one of them.
Here’s the value proposition: we help you become a better investor by showing you how the sausage is made, so you can vet GPs and offerings with confidence (also, you’ll get a loy of memes).
