Institutions such as pensions and endowments are increasingly concerned their negotiating power will wane as retail investors get invited into an asset class that had been reserved for sophisticated clients.On top of that, returns could suffer because fund managers flush with retail money will have to invest in mediocre deals to put all the extra cash to work.
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Private equity’s courtship of retail investors irks pensions, endowments
“It is very consistently one of the top, if not the first, topic that members are asking us about.”
