This episode tackles one of the most misunderstood, and, frankly, misrepresented topics in private markets right now: gating. Often painted as a crisis measure, gating is in fact a tool designed to match investor liquidity with inherently illiquid assets.

Joe Morrissey, a Partner at Seward & Kissel, joins Tom Kehoe and Drew Nicol to explain why gates exist, the difference between fund-level and investor-level restrictions, and why better investor education may be the real key to avoiding panic when markets turn.

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