SEC and CFTC Cut Form PF Reporting Requirements: What Accredited Investors Lose
TL;DR: The SEC just proposed cutting the transparency requirement that helped protect private fund investors from systemic risk. The headline says reduced burden. The fine print says reduced
June 13, 2026
Farmland Investing: Returns, Platforms, and the Water Rights Risk No One Mentions
TL;DR The NCREIF Farmland Index returned 10.15% annualized from 1992 through 2024, equity-like returns at roughly one-third the volatility of the S&P 500. In 30 of those 33 years, the index posted...
June 12, 2026
SEC Just Opened Private Markets Wider — and Quietly Closed an Enforcement Window Too
On June 2, 2026, the SEC published its Draft Strategic Plan for FY 2026–2030 , promising to open private markets to more investors and review the accredited investor definition. Twenty-four hours...
June 12, 2026
Partners Group's PremiStar Adds MSS: Inside the $2B HVAC Roll-Up That PE Loves
On June 10, 2026, commercial HVAC platform PremiStar , owned by Zug-based private equity firm Partners Group , announced the acquisition of Mechanical Service & Systems (MSS) , a Salt Lake City...
June 12, 2026
Digital Asset Raises $355M for Canton Network: What Institutional Blockchain Means for Accredited Investors
Digital Asset (US) Corp. raised $355 million in a late-stage growth equity round announced June 11, 2026, led by a16z crypto with a $100 million anchor commitment. The round closed oversubscribed...
June 12, 2026
SEP-IRA vs Solo 401(k): Which Retirement Account Wins for the Self-Employed Investor
TL;DR: At $200,000 net self-employment income in 2026, a Solo 401(k) lets you contribute $61,674 versus $37,174 in a SEP-IRA, a $24,500 advantage that comes entirely from the Solo 401(k)'s employee...
June 12, 2026
Pro-Rata Rights: How to Protect Your Stake When the Next Round Closes
TL;DR: Fred Wilson of Union Square Ventures called pro-rata rights "the single most important term anyone can negotiate for in a venture capital investment." He is right. Venture returns follow a...
June 12, 2026
General Partner (GP): What Fund Managers Do and How They Get Paid
TL;DR: A general partner (GP) is the fund manager who raises capital, makes investment decisions, manages portfolio companies, and returns profits to limited partners (LPs). In exchange, the GP...
June 12, 2026
Mezzanine Financing: The Hybrid Debt Between Senior Loans and Equity
TL;DR: Mezzanine debt is a subordinated instrument sitting below senior loans and above common equity in the capital stack. It targets 12–20% total returns by combining a cash coupon of 8–12%, PIK...
June 12, 2026
The J-Curve in Private Equity: Why Your Fund Looks Terrible in Year One
The bottom line: In a typical buyout fund, your reported net asset value drops to roughly 80 cents on every committed dollar by year 3.5 before it ever climbs back. That is not a warning sign. It is..
June 12, 2026
IRR in Private Equity: The Metric Funds Use to Sell You on Returns
TL;DR: Across 12,306 private capital funds totaling $10.5 trillion in AUM, the median net IRR is 9.1%, barely above long-run public market returns once you strip out IRR's mathematical quirks. Oxford.
June 12, 2026
GP Stakes Investing: How to Own a Piece of the Fund Manager, Not Just the Fund
TL;DR GP stakes investing means buying a minority ownership interest in the management company of a private equity or venture capital firm, not a limited partner interest in the fund itself. You own
June 11, 2026