Across
- 2. Extra portfolio exposure created on top of a baseline to adjust risk, return, or liquidity.
- 4. Ongoing check that a potential investment fits the existing mix of strategies, sectors, and managers.
- 5. Combination of primaries, secondaries, and co-investments used to shape exposure.
- 7. Extra return PMG aims to capture over a benchmark through smart construction and implementation.
- 8. PMG term for how fast you commit to funds over time to hit target exposure.
- 10. Key modeling dimension for PMG, alongside risk and return; can be tight in private markets.
- 12. Strategy of committing more than current capital to stay fully invested over time.
- 13. What PMG manages holistically for clients, not just one fund at a time.
Down
- 1. How well an investment idea matches a client’s guidelines, constraints, and goals.
- 3. Initial fund commitments that contrast with transactions and secondaries.
- 6. Buying existing fund interests instead of making new primary commitments.
- 7. Thoughtful division of capital across strategies, regions, and vintages; PMG spends a lot of time modeling this.
- 9. Year associated with a fund’s first investment, crucial in PMG performance analysis.
- 11. Direct deal exposure taken alongside GPs, often used to improve fee and return profile.