Hello, I'm Ted Sides, and this is Capital Allocators.

This show is an open exploration of the people and process behind capital allocation.

Through conversations with leaders in the money game, we learn how these holders of the keys to the

kingdom allocate their time and their capital. You can join our mailing list and access premium

content at capital allocators.com. All opinions expressed by TED and podcast guests are

solely their own opinions and do not reflect the opinion of capital

allocators or their firms. This podcast is for informational purposes only and should not be relied upon

as a basis for investment decisions. Clients of capital allocators or podcast guests may maintain

positions and securities discussed on this podcast. My guest on today's sponsored insight is

John Medorski, managing partner and co-portfolio manager of the secondary strategy at RCP advisors.

One of the largest managers focused exclusively on North American lower middle market buyouts.

John joined the firm 21 years ago and has participated in the growth of the

Secondaries business from its earliest stages. His partner, Alex Abel, joined me on the show last

year, and that conversation is replayed in the feed. Our conversation covers the history and

maturation of the Secondaries market from a red-headed stepchild to a modern

portfolio tool. We discussed the use cases, transaction types, and capital sources in secondaries,

RCP's investment strategy, levers of value creation, portfolio construction, and exit strategy.

John also shares his perspective on secondary market pricing,

growth, risks, and the future of the industry. Before we get to the interview, we're excited to

share a new opportunity to join the capital allocators team. We're hiring a head of content

to lead everything we create and share with you,

our listeners and followers. That includes our flagship podcasts, our newsletters, and written

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