Lucas K.T. Lee

One caveat that I wish to make at the beginning of this—very lengthy—entry. I am looking at technologies that can change the world in a non-incremental fashion, regardless of…

Perhaps the most significant transformation of the asset allocation space, as advocated by Berkelaar and practiced by a number of more sophisticated institutional investors, has been the recognition that the traditional model1of constructing a portfolio has several flaws: It fails to take into account the fact that expected returns, volatility, and asset correlations2are not necessarily constant over time.…

There are two main types distribution waterfalls in use today: The deal-by-deal (“American”) waterfall The whole fund (“European”) waterfall As the informal nomenclature would suggest, the deal-by-deal waterfall is most commonly used by American private equity sponsors, while the whole fund waterfall is used most comonly used in Europe and Asia.…

I first watched Leonard Nimoy on Star Trek, where he played the character that made him, in many ways, famous. I did not watch—until much later—the series. No, my introduction to Mr. Spock came through the movies. The “token alien” in the movies, he spoke to me, an alien in many strange lands.…

Now, I should emphasize that my familiarity with venture capital is somewhat less extensive than my familiarity with private equity, infrastructure and real estate. I have some familiarity with it, having followed the sector in the trade publications and by speaking with local venture capitalists, but it was not an…