Just finished work on the deck for our new fund*, and thought I’d share a "philosophy" slide of which I’m particularly proud.
Veteran investors / sponsors will notice that our way of thinking about deals differs dramatically from those of most real estate private equity shops. For example, as you will see below, we refuse, on principle, to forecast IRRs for our projects… and IRR forecasts are the main heuristic many investors use for evaluating opportunities.
I’m honestly not sure that our way is the one which will grow our net worth fastest. But it’s the only way I can solicit capital from investors without feeling like a slime-ball, and life’s too short for that!
Anyway, here’s the slide:
WHAT WE IGNORE
*Obligatory legalese: This is not a solicitation of investment, nor an offer to buy or sell any security. Our deals are open to accredited investors only… and only to those who think about the world like we do!