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> so those investors have to bid much higher to get the deal. And return less money to their fund than they would if they were acquiring companies domestically

• tlb 7y ago
  There is a lot of unwanted money sloshing around. If you’re an oligarch or kleptocrat with billions to invest, you’re gonna have to accept lower returns. One reason that Ivy League endowments get consistently above-market returns is that everyone is comfortable taking their money. EDIT: I sort of conflated foreign and kleptocrat money there, saying they both have to outbid preferred sources. Most foreign money is not from kleptocrats, of course.