Jameson Capital director and former Macquarie director Nick Browne says it makes sense that asset classes that have performed exceptionally well over the past decade would correct first.
Many private market assets have potentially overshot their true value due to the weight of capital chasing these assets in a low inflation and low-interest rate environment, he goes on to say.
“This is particularly true in geographies where there is a hometown bias from local institutional investors chasing undifferentiated and fashionable investment themes,” he says.
But Browne says while Preqin’s findings are not incorrect, there is much more to the story.
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