I thought of this post as your fund and mine both deviate from the norm and are what I would deem more “LP friendly” as it relates to waterfall and how I have seen many other funds loaded with fees.

@Chris Purcell it all depends on the waterfall and structure of the ABS and then whether or not the underlying is government guaranteed student loans or private student loans but when a student stops paying a loan the money comes from an interest reserve account.  

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

Greenville city also has a beautiful downtown with a waterfall and suspension bridge going across the river.The west end of Greenville city is going through a slow transformation and I think this would be a great place to invest.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

Then we could graduate to the latter type of deal with one or more layers of equity in some sort of waterfall model.

This is called a “waterfall”.

Depending on how the waterfall is structured, the preferred return holders will have first rights to the cash flow, typically an asset manager fee is the only component paid before the preferred share holders.

I have wondered if converting a pool into an elaborate water feature such as a pond with a waterfall and some surrounding vegetation and rock features would be an alternative to the cost of complete dismantle/removal.

People don’t enjoy their vacation, they just take pictures of it to post on IG. or kills themselves taking selfies on top of cliffs or waterfalls..