Side Letter: PE’s ‘short-termism’: NAV lending’s time to shine; Phalippou’s liquid index

Rising fund sizes are driving some investors into the arms of those who can demonstrate greater restraint. Plus: dispatches from Miami's recent Fund Finance Association Symposium and private equity's favourite gadfly reckons he's found a way to capture its upside without the illiquidity. Here's today's brief, for our valued subscribers only.