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Politics : High Tolerance Plasticity

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To: stockman_scott who wrote (18196)	12/18/2002 12:05:43 PM
From: kollmhn	Read Replies (1) of 23153

Not long ago I purchased a couple of units in a private equity fund from an owner who was unwilling (read-unable) to pay any more capital calls. As my broker said: "You gotta remember, there's a whole slew of people who were worth $50-100mm when they bought these funds. I can attest that many of them are, now, not even worth $10mm." Liquidity is by appointment. This fund was already 30% funded (owns very little high tech) and AFTER marking it to market, I bought it at a 45% discount! Just getting out from under the commitment for the remaining 70%, was worth it to the seller. The best part is that investment opportunities for the fund are, now, better than they have been in years. Cash is King

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