Trying to understand this...So let me get this straight - this goes public, invests publics money in PE, then pays themselves 15% of the book value of the holdings annually, in cash? This means the value of those PE holdings are essentially decreasing every year, making it a much stronger tide for public float holders to swim against.
I can see why prospective investors might be hesitant here, even if the latest financial statements don't look so bad.