March 11, 2022
As a retail investor looking to diversify, but lacking the connections for traditional public offerings and the stomach for private equity- I am in favor of the approval of SR-NYSE-2021-45 and look forward to this new vehicle based upon the following:
1) Flexibility of target sizing. Sponsors will not be locked into a specific sized deal and thus cut down on deals-for-deals sake.
2) The use of the new vehicle for existing company spin-offs
3) The ability to invest in specific sponsors who have proven track records and loyal followings
4) Longer duration to avoid bad deals to avoid deadlines
5) Capital is not tied-up during due diligence
With a vehicle such as this, I understand the concern regarding the price being driven by rumors and possible PnD. However, this is true of the entire market. Especially in the past few years. I believe that given the float size and track record of the sponsor of this instrument it would be a reasonable test vehicle