We were late to the party. We were asked to evaluate a niche illiquid debt asset that the otherwise liquid debt-only investment fund could not find a buyer for. I read my ass off, found the right outside lawyers to assist in the evaluation, and came in to purchase with a "what the hell why not" bid of 200k.
We are set to receive 5mm lump sum payment, less purchase price and lawyer contingency fees.
Nice little boost to our pool of dry powder.
1 - never say no
2 - it pays to be willing to learn and learn fast
3 - know what you don't know and bring in someone who does
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