Sublime

Lehman Brothers

Capital Returns:

1. LPs too slow to react, VCs lack incentives to admit limitations in current processes


2. Poor quant performance 


3. Downturn in private markets 

Another Dennis student, Erle Keefer, went beyond his eccentricities: “Rich is probably the greatest trigger puller that I personally have ever known: he has the ability under tremendous pressure to stand there with his own money and pull the trigger when other people wilted. And when he was wrong, he could turn on a dime. That’s amazing