more investments over a greater pool of assets, chasing returns, also increase your surface area of error. Examples abound. There's a reason its easy for funds

more investments over a greater pool of assets, chasing returns, also increase your surface area of error. Examples abound. There's a reason its easy for funds to get big with a small LP commitment round, and there's also a reason most funds close after hitting certain numbers, increasing the AUM means increased complexity, and thus, potential implosion. The real world bears many examples of growing AUM portfolio that blew up past a certain size. There's no counterexample that I know of , of a fund with a consistent growth pattern that started small, hit size, and then increasing further their size with the same trajectory from having more investment dollars to use.