Alan Waxman
👤 SpeakerAppearances Over Time
Podcast Appearances
Let's say we're a minority equity investor in a company.
And one, you've got the control party can literally do whatever they want.
They can dilute you.
They can put a bunch of debt ahead of you.
That's one set of risk units.
If you've got traditional, hopefully good minority protections, that's another set of risk units.
So we take all that.
We do that across asset classes, sectors.
geographies, durations.
So some stuff like our capital, we can do stuff that's 10 to 12% returns.
Some of our stuff is 20, 25%, two to three times your money.
And our whole view of the world is the world is very dynamic.
It's always changing.
And what happens is with investors, everyone thinks their baby's the prettiest.
So if you're just a healthcare investor, you think you're
baby's the prettiest.
You're just an energy investor.
You think your baby's the prettiest.
If you're just in Europe, you think Europe's only good.
So we try to do a step back from that.