Patrick O'Shaughnessy

What about old school venture land?

What are you seeing?

Who is emerging as the most interesting best managers that do the original style of very early stage bets into companies?

How is their strategy changing?

What interests you most in that category?

Any other categories that you think are especially interesting with the same question behind it of like, what is newly interesting or changing?

You mentioned the on-streaming of new liquidity solutions for some of this bigger liquid asset class, continuation funds, secondaries, et cetera.

What do you think about everything that's going on with the endowments, which were for a long time the pioneers of this style of investing?

They were the first ones to do it in size.

put a lot of these firms in business.

Now it seems like we've reached the other end of that cycle where they have huge allocations to privates and in some cases have sold big chunks of that to create some liquidity.

What is the changing role of endowments?

What do you make of all that recent news?

Can you, let's use Jake as the example since his name has come up a few times, sort of soup to nuts describe why he and ZBS are so special relative to the field?

Just as like a case study in everything we've talked about.

What should GPs that are listening try to do more of as they try to court the best LPs out there?

What do the best GPs do that increase the odds of partnership with you?

How many LPs of roughly similar setup to what you have, a pool of capital that's invested in a variety of managers and some co-invest, whatever, would you personally give your own money to?

You've mentioned a few times that a natural progression for very successful investors is to become asset managers.

We started talking about Blackstone, incredible business, but that your interest in terms of your clients' dollars tends to be to recycle them back into people that are building new innovative strategies, earn higher returns that way, and so on.