icewalker

6 ms·

1. 1.▲
   by icewalker 13y ago

   Sorry I wasn't clear with my pronouns (?) - "they" referred to the LPs, not Insight. Meaning that now the LPs (not Insight) have to figure out how to reinvest the capital that was returned.
2. 2.▲
   by icewalker 13y ago

   That's only true if the investment was participating preferred equity (sometimes known as "double-dipping"); if it was convertible preferred equity then it's an either/or scenario (they choose between getting their
3. 3.▲
   by icewalker 13y ago

   It's definitely not a total win - first, the return isn't actually ~50% given the $365M in installment payments and assumed unvested equity; second, your LPs committed capital to your fund expecting a certain IRR over the length o