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Dividend Recaps Reconsidered: When the Distribution Is Actually a Decision capital structure debt dividend recap dpi leverage lp gp value creation Jul 30, 2026

The dividend recapitalization has returned to the private equity playbook with renewed intensity over the past eighteen months. The reason is not subtle. With exits slowed, DPI weak, and LPs pressing ...

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The DPI Reckoning: Why Distributed-to-Paid-In Is Now the Metric That Matters dpi exits fundraising irr lp gp moic performance metrics value creation Jul 20, 2026

For most of the modern private equity era, IRR was the metric that defined fund performance. It was reported on the cover page of every quarterly update. It was the headline statistic in every fundrai...

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NAV Lending Reconsidered: A Tool That Solves One Problem and Creates Another dpi fund finance liquidity lp gp nav lending secondaries value creation Jul 16, 2026

NAV lending has moved from niche financial product to standard liquidity infrastructure inside private equity in less than five years. Most established sponsors now have at least one NAV facility on t...

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The DPI Architect: Designing Liquidity When Exits Stall dpi liquidity Sep 17, 2025

Convert TVPI to real DPI with a clean liquidity stack, transparent LP signals, and cash-without-chaos governance

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heap debt and easy multiple expansion are not coming to rescue mediocre execution. ...

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