Exact(57)
Big funds achieve economies of scale.
Some big funds are doubling down on private equity anyway.
But at other big funds, transitions have been smooth.
One reason could be that consultants tend to recommend big funds and big funds tend to underperform.
That's not to say big funds don't have their own issues.
Gone are the days of people tossing money at big funds that lack a focused mandate.
Big funds, such as Banamex, still have no corporate bonds in their portfolios rated below AA.
Several big funds have faltered in recent weeks, some of them spectacularly so.
Big funds like Citadel and private equity giants like Cerberus Capital Management have even more.
But this engagement is a role easily left to the big funds.
Studies have shown that little funds perform no better than big funds, on average.
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