What fund size is considered "institutional"?
Been hearing the term "institutional" being thrown around in relation to fund size. A colleague anecdotally mentioned that funds under 100mm in commitments aren't really considered by the market to be "institutional". I suppose there is no hard and fast rule but I'm curious what the market sentiment is.
Granted, you could probably see a 3-400mm fund that is comprised solely of retail/HNW or family office money (aka "dumb money") but it would still satisfy the size threshold.
about tree fiddy billion total aum is my cutoff
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