Private Markets Not Yet That Liquid: Franklin's Johnson

The transcript discusses the dynamics between public and private markets, highlighting the trend of companies staying private longer for liquidity reasons. It also covers the challenges public companies face in making significant investments and the cycle of going private to invest and then going public again. Concerns about valuations in private markets, particularly in real estate and fixed income, are raised. The discussion concludes with insights into the secondaries market and liquidity issues in private equity.

How does the current state of fixed income markets affect investment strategies?

What role do secondaries play in the private equity market according to the text?