Martín Escobari

To have a team in Latin America or in China or in India or in Southeast Asia compete for attention and money through one global IC is so hard to do unless your culture is about partnership.

The culture demands good partnership.

And the culture expels behavior that's not consistent with being a good partner.

We're structured in a way that, first, we are the largest investor in our own product by design.

Right now, we have about, the employees of General Atlantic have 8% of the funds we administer.

It's over $5 billion of our own capital.

This does not feel like managing other people's money.

This feels, my day-to-day, I'm managing my family wealth, first and foremost.

And I'm doing it with care and with intention and purpose.

The way we fundraise is different also.

One of the problems with the industry is the five-year fundraising cycle.

To be able to raise your next fund, you have to deploy at a certain speed and you need to return capital at a certain cadence.

Otherwise, you don't get to do the next fund.

And if there's a winter of risk like we've had for the last three years, you're out of dry powder exactly at the time that things are on sale.

So the traditional fundraising five-year cycle creates lots of distortions and pain for our industry.

We have an evergreen, a hybrid evergreen fundraising cycle.

Meaning, yes, every two to three years, we have a normal fund.

So if you want a normal fund, come to GA every two or three years.

Perfect.

But if you're a large institution and are willing to do a standard managed account, you can come at any time.