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Toilets in CVs, Evergreen Trees, and $1.4B Wipeouts
🗞️ Sunday digest: private markets insights 11/30
Nov 30
•
Leyla Kunimoto
9
4
Evergreen Funds, Explained
Everything you wanted to know, but were too afraid to ask
Nov 28
•
Leyla Kunimoto
17
2
1
Inside Apollo Diversified Real Estate Fund
What's inside, where the 5% distribution comes from, and what investors find attractive.
Nov 23
•
Leyla Kunimoto
21
4
Non-Traded BDC Meets Mr. Market
Price ≠ NAV ≠ Value
Nov 20
•
Leyla Kunimoto
19
1
3
What Do You Call a Group of Cockroaches?
Also: PC valuation gaps, CMBS delinquency trends, and the multifamily OpEx data you didn’t know you needed
Nov 16
•
Leyla Kunimoto
21
6
2
Understanding Unitranche Loans in Private Credit
“First-Out,” “Last-Out,” and why you should keep an eye on this structure
Nov 13
•
Leyla Kunimoto
and
DEBT SERIOUS
32
2
No Smoke, No Mirrors: A Plain-Jane Multifamily Case Study
LP takeaways from a deal that could've been dressed up (but wasn't)
Nov 9
•
Leyla Kunimoto
12
4
1
Stop Asking to Be Paid Your Own Money Back
When GPs use reserves to manufacture yield, and why LPs shouldn’t want it
Nov 6
•
Leyla Kunimoto
25
3
3
♼ The Lending Loop, PE Q3 Update, and CRE: Patient is Alive 🩺
🗞️ Sunday digest: private markets insights 11/2
Nov 2
•
Leyla Kunimoto
9
1
October 2025
The Golden Doodle of Private Markets: Evergreen Secondaries
What to watch when evaluating evergreen secondary funds
Oct 30
•
Leyla Kunimoto
12
3
2
Inside Blackstone's Private Equity Strategies Fund (BXPE)
Layered private equity fund: the structure, the fees, and how the $$ is made
Oct 26
•
Leyla Kunimoto
16
5
1
Due Diligence on PE Managers: Doing it Like the Best
Look beyond the track record — guest post by Romain Bégramian
Oct 23
•
Leyla Kunimoto
16
1
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