The Tyranny of Dry Powder

A recent note from our good friend at Bloomberg, Kelsey Butler, pointed to a study in Astrobiology highlighting 24 planets that could sustain life. Criteria for “superhabitability” include home stars younger than the Sun, Earth-like masses, and atmospheres with warmth and moisture greater than Earth.

All these planets are over 100 light years away – not ideal for COVID getaways. But for those who don’t mind long trips with the kids, such conditions could mean more biodiversity and longer lifespans.

Our thoughts turned to things extraterrestrial as two of our content partners published findings on third quarter fundraising.

Preqin’s Private Data report shows global fundraising off significantly at September 30 (see our Chart of the Week). Of the roughly $8.5 billion capital raised last quarter, about $4 billion was dedicated to direct lending. Next highest was mezzanine at $2.6 billion, followed by special sits and distressed.