Jeff Blazek
speaker
496 appearances
1 recordings
1 series
first heard Feb 2026
last heard 13 Feb
Jeff Blazek’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Feb 2026 with 1.
Appearances
And the next debt issue they announced at a time of tumult becomes mispriced and widens.
And that just feeds on itself throughout the entire credit complex.
That to me is the risk, like the vol being perpetually priced as a given of being under control.
It's never that simple.
And so you can't look at an options curve to extrapolate that.
That's just what the market's telling you today.
That shock that comes in where vol really rears its head could be the biggest risk I worry about right now.
Yeah, I think it was.
I think the magnitude to which venture and growth equity became part of the menu got too far askew where it was dominating commitments.
And let's first step back and assess why it was deemed to be such an attractive area to invest.
Because over the long run, if you want to maximize your multiple and your internal rate of return,
There is no doubt that venture capital and growth equity give you that highest threshold of returns if you select the right managers.
If the DPs you are aligned with will execute, you can see two, three, four X in individual funds, programs that will outpace a traditional buyout portfolio if executed well.
And in certain cycles, it can even be more pronounced than that.
So the reason that this was such an attractive area was because endowments are seeking to maximize the returns.
If you let an optimizer run wild and constrained, it would just throw all this capital into growth equity and venture if you're just trying to juice the overall fund return.
The challenge is that there's two elements to it.
One, it is cyclical.
And in 2020 and 2021, we have the benefit of hindsight to know now that that was a peak.
We see plenty of moments like the dot com from really 2000 to 2008 or 2010.
Showing 101–120 of 496 · page 6 of 25
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