Capital Allocators · Monday, October 26, 2026
Scott Ramsauer argued that while private equity for retail investors is a sound strategy, the current structures may be mismatched with retail liquidity needs. He drew parallels between retail private equity concerns and continuation vehicle issues, warning that semi-liquid quarterly redemption vehicles erode the long-term horizon inherent to private equity.
“Private equity for the retail investor is the right strategy, but the wrong structure.”
“illiquidity is a feature, not a bug of the private equity asset class. You're taking away that feature, in my opinion, when you put it into a semi-liquid structure.”