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A sheep in wolf’s clothing: Wandering thoughts on the LP to GP transition
- March 1, 2024: Vol. 36, Number 3

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A sheep in wolf’s clothing: Wandering thoughts on the LP to GP transition

by Anthony Breault

After 18 months of wearing wolf’s clothing, following more than 16 immensely satisfying years as an LP, I candidly admit there have been remarkably few surprises or breathtaking “Aha!” moments of crystal clarity for new discoveries upon participating in how the sausage is made. While it is common practice within the LP community to hire from the GP ranks, the transition from institutional LP back to GP seems to be a rarer occurrence. But many good folks have blazed this trail before and shall continue to do so. In the spirit of answering the question I jokingly get asked most often — “What’s it like to not be the most popular person in the room anymore?” — I feel inclined to share some wandering thoughts on both sides of the GP-LP fence and perhaps use up wh

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