Patience is a structural choice

Everyone in private markets claims to be long-term. Very few structures actually allow it. A fund with a fixed life, a fundraising calendar, and a room of allocators will eventually ask when the money comes back.

Prism is built so that question does not have to be asked. We deploy proprietary capital. We do not run a vintage. We do not manage to a mark cycle.

That is not a cultural slogan. It is the reason we can hold a good business through a quiet year, and the reason we can spend months prototyping an idea before it has a name.

Patience, in this house, is not a virtue we advertise. It is the consequence of how the firm is organized.