%0 Journal Article %A Karl Polen %T Practical Applications of The Pragmatics of Private Markets Investing %D 2021 %R 10.3905/pa.8.3.405 %J Practical Applications %P 1-6 %V 8 %N 3 %X In The Pragmatics of Private Markets Investing from the 2020 Fund Manager Selection special issue of The Journal of Portfolio Management, Karl Polen, chief investment officer of the Arizona State Retirement System, provides insights on private market investing from the vantage of nearly 40 years in the industry. Polen approaches private market investing from the perspective of investing in a business, and therefore he puts the emphasis on the private equity firm’s business strategy, company culture, and employees. Ultimately, private equity firms must also have fee structures that align with investor interests. TOPIC: Manager selection %U https://pa.pm-research.com/content/iijpracapp/8/3/1.5.full.pdf