Random Walk

Random Walk

(Still) no exits for private capital [republished]

No exits, no worries, probably

Moses Sternstein's avatar
Moses Sternstein
Apr 22, 2025
∙ Paid

👉👉Random Walk is back in the saddle as of today, with some changes in tow that will be rolled out, gradually.

In the meantime, this should be the last repeat piece for a bit.

I chose it because it’s remarkable how much all of this is still very much the case in the land of Private Capital.

Originally published May 7, 2024:

  • Still no exits in private capital

  • a big deal that hasn’t really been much of a big deal

  • capital calls running hotter than distributions

  • even the belle of the ball is having some trouble fundraising

User's avatar

Continue reading this post for free, courtesy of Moses Sternstein.

Or purchase a paid subscription.
© 2025 Moses Sternstein · Privacy ∙ Terms ∙ Collection notice
Start your SubstackGet the app
Substack is the home for great culture