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Don't Buy Yesterday's Portfolio
In private markets, the question isn't whether an asset is good or bad. It's whether it was acquired in 2022 or 2026.
Jun 7
•
Leyla Kunimoto
36
6
20-Year Funds | Subprime by Another Name | CRE Absorption Leaders
🗞️ Sunday digest: private markets insights 5/31
May 31
•
Leyla Kunimoto
39
5
1
Is There Any Magic in $OZ?
Investors should be careful not to let the tax tail wag the dog.
May 24
•
Leyla Kunimoto
and
Paul Drake
40
6
Private Equity Wants Your Financial Advisor, Private Credit Wants More Time, and CRE Wants a Miracle
🗞️ Sunday digest: private markets insights 5/17
May 17
•
Leyla Kunimoto
59
6
When the Music Stops
Why Private Credit Evergreens Can Handle Redemptions (And Private Equity Can't)
May 7
•
Leyla Kunimoto
56
6
1
Software Isn’t Dead, PIK Is Fine, and the Best-Performing Cities
🗞️ Sunday digest: private markets insights 5/3
May 3
•
Leyla Kunimoto
57
3
BCRED: High Yield Now, NAV Erosion Later
10% yield works (because half the money never leaves)
Apr 30
•
Leyla Kunimoto
59
3
Loan Gone Bad: BCRED's Medallia Problem
A $1 billion loan, a 30% markdown. What does it mean for NAV?
Apr 26
•
Leyla Kunimoto
56
1
The Equity Cushion Illusion
Why LTV is an incomplete measure of risk in private credit
Apr 23
•
Leyla Kunimoto
58
9
5
PE Fundraising 📉, PC Redemption Wave, and Record Vacancy
🗞️ Sunday digest: private markets insights 4/19
Apr 19
•
Leyla Kunimoto
52
4
1
Variant Alternative Income Fund (NICHX): Positive Returns, Shrinking NAV
How distributions and write-downs explain the paradox (and what to watch for)
Apr 16
•
Leyla Kunimoto
42
1
1
Beware of AAR
When IRR is looking worn and tired, there's always AAR
Apr 12
•
Leyla Kunimoto
55
3
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