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‘Just buy somebody’: Private markets push will fail without deals, says LCM boss

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fnlondon.com

The chief executive of Brookfield-backed alternatives firm LCM Partners says asset managers pushing into private markets will fail without making acquisitions, arguing they are the only route to the expertise needed to be successful.“Just buy somebody, because you're not known for this,” Paul Burdell, who set up LCM Partners in 1998, told Financial News. “How can you raise money if you don't have a track record?”LCM...

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