The investment vehicle for permanent capital can be structured in many ways - through a listed fund or by using public share offerings, for instance. Bill Ackman of Pershing said: 'Permanent capital is the best protection.' He feels that he has missed the opportunity to make much higher returns by having to hold such a large proportion of fund in cash.
No ticking clock
Marco Masotti of Paul, Weiss, Rifkind, Wharton & Garrison said: 'These vehicles are likely to be a meaningful alternative. There is no ticking clock of a finite life and there is always a readily available pool of capital.' Source: Financial Times
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