Category: Insights
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A New Gateway to U.S. Private Equity for Latin American Investors
By Jose Martinez Sanguinetti, Founder & CEO, Sothys Capital Published in partnership with Third Wire Asset Management This article is also available in Spanish on LinkedIn, here: https://www.linkedin.com/pulse/una-nueva-puerta-de-acceso-al-capital-privado-ipgyc/ Private equity has long captured the imagination—and the capital—of long-term investors. For institutions, family offices, and pension funds in Latin America, U.S.…
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Third Wire Counterweight Newsletter: June 2025
To subscribe to our newsletter, visit us on LinkedIn: iCapital recently published its 2025 iCapital Global Advisor Survey. Typically, I don’t put much stock in these types of surveys. They usually boil down to something like: We asked our clients—who already invest in alternatives—if they’re planning to continue investing in alternatives.…
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Due Diligence 201: Why Some Evergreen Funds Charge You Fees on Borrowed Money.
It’s a classic scene from Goodfellas. Henry Hill explains how the mob squeezes every penny from a business until it collapses. “They buy your truck, but somehow you’re still paying for the gas.” Well, welcome to the world of evergreen fund fees. One of the most overlooked costs in alternative…
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Third Wire Counterweight Newsletter: May 2025
To subscribe to our newsletter, visit us on LinkedIn: Evergreen Funds. Evergreen Funds. Evergreen Funds. In case you didn’t get the memo, everyone seems to be talking about and launching evergreen funds. The megafund managers—and the usual chorus of industry pundits—have decided evergreen funds are the answer to everything that ails…
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Third Wire Counterweight Newsletter: April 2025
To subscribe to our newsletter, visit us on LinkedIn: Yale University’s ‘endowment model’ is the private equity industry’s favorite proof point for why your clients should be allocating a significant portion of their hard-earned wealth to their funds—private credit managers too. A couple of things they tend to gloss over in…
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Third Wire Counterweight Newsletter: March 2025
To subscribe to our newsletter, visit us on LinkedIn: By most measures, Q1 has been bonkers–and yes, that’s the technical term for it. We all read or watch the news, so I don’t think I need to rehash the highlights (or lowlights, as the case may be). But one theme that…
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Asset Allocation 201: Synthetic vs. Strategy Replication
In the early 2000s, several firms attempted to synthetically replicate hedge fund indices using statistical modeling and liquid ETFs. The problem? They reverse-engineered the risk/return profile but not the underlying investment strategy. The results looked good on paper—until the global financial crisis hit. When markets turned, these models failed to…
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Third Wire Counterweight Newsletter: February 2025
To subscribe to our newsletter, visit us on LinkedIn: I don’t even know where to start this month. Those of you who know me know I had a difficult time keeping my mouth shut while we were planning our latest fund. Like I said in my recent LinkedIn post, I got…
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Third Wire Counterweight Newsletter: January 2025
To subscribe to our newsletter visit us on LinkedIn: Well, here we go – 2025! 🙂 Last month, I shared a link to a conversation I was fortunate to have with William J. Kelly, CAIA (former CEO of CAIA Association, Congrats on the retirement!!!) and Andrew Akers, CFA from PitchBook. True…
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Third Wire Counterweight Newsletter: December 2024
To subscribe to our newsletter visit us on LinkedIn: Happy Holidays! As we wrap up 2024, I hope you’re planning some well-deserved time with family and friends. We’re cooking up some great things to kick off 2025, so we’re a little swamped, but we will definitely enjoy a little R&R to…