Читать книгу Alternative Investments 2.0 - Группа авторов - Страница 58

Investors have the ability to improve their negotiating power with GPs and reduce fees through economies of scale. They can do this, for instance, by investing through a platform that aggregates their capital.

Few investors have sufficient capital and market knowledge to implement the success factors described in the previous chapter on their own. Having the flexibility to switch commitments between managers and strategies is essential to implementing a high-conviction view based on data analysis and manager selection. We are convinced that investment guidelines are the best instruments to avoid situations that could jeopardize the sustainable growth of the asset class through multiple cycles. Because of the rapid growth of private debt in recent years, smaller investors have encountered more difficulties in discussing customised investment solutions with GPs.

Nevertheless, we strongly discourage investors from compromising on quality and returns because of their size. We believe that investors will collaborate more closely with business partners to regroup commitments. Hence, they will be able to access prime managers, implement their vision, allocate capital more efficiently and, most importantly, diversify their exposure.