The difference some would say is…. the underlying funds don’t get revalued so often and so the aggregate value doesn’t change so much. And if it doesn’t change so much, the loan-to-value doesn’t get volatile so easily.
Fxxk as I write about this… I kind of miss the days of looking at heavily leverage shipping companies and loan covenants during my stock picking days.
Anyway… here are the funds that form the assets of this Astrea 9:
I am not a private equity person (I think there is a difference there) and so I cannot tell you if these funds are good or not good. The general idea is if the value of these funds are stable… then the LTV is stable.
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