Semi-liquid products balance access and limits
The conversation addresses recent volatility and elevated redemptions in non-traded private credit vehicles. The speaker defends the semi-liquid structure, emphasising the importance of proper disclosure, financial advisor intermediation, and premium return delivery. Using BCRD and BREIT as case studies, the argument is made that redemption caps are a feature, not a flaw, and that performance — not flows — should be the primary measure of success.