At the Asian Venture Capital Journal conference in Hong Kong...TPG's David Bonderman explained the difference between a hedge fund investor relationship and a private equity investor relationship:
"Private equity all has long term lock ups. So you may like our performance, you may not like our performance, but you're my partner for the next 12 years (makes a smooching, kissy sound here). At a hedge fund, you're my partner for the next 45 days until you can give me notice and get the hell out."
Area Man's Failed Bank Robbery Gets Points For Originality (Use Of A Sex Toy)
Aaron Stein knows what we're talking about.