Peter Lacaillade

He has promised to Zellpack that he is fully engaged for at least the next 18, 19 years until the baby goes to college.

I was waiting for the last one.

He said this like four years ago.

He's like, when we have our fourth kid, add on to that.

But people like Mike Cooper and John Hennigan, I wondered, they've been very successful.

Are they going to have that same drive when they make real money?

And I think...

For them, the ability to invest in the mid-market in their best businesses and then maybe some non-shore companies where they have real expertise, we think it will be a really attractive fund.

So that's one that's really evolved.

And I think it's very high quality at every single area.

That's exactly right.

It's helpful both ways, organizationally, company-wise, et cetera.

I think that's a great example, but there's only one short capital.

Be very cautious about most of it.

Beyond the exception of the rule.

An area that we've talked about, but I think is super attractive is the bootstrapped growth equity area.

We've backed a number of firms where people have been trained at the summits, TAs, Excels, Sequoias, and then decided to...

As those firms, now the people there generally are trying to write $50 to $100 million plus checks.

Some really talented professionals have launched their own smaller firms that are addressing that kind of $5 to $25 million equity area.

This is not venture capital.