Hello
Welcome to the best of the Alts Community.
As always, do your own research; nothing in the community constitutes financial advice. Stay safe out there, kids.
Let’s go 🚀
Table of Contents
🚀 Live Deals
🚢 Maritime I: Upcoming Q&A Sesh
Maritime I is our investment with Oceyon, a data-driven maritime recovery company using proprietary AI, robotics, and 75 years of archival intelligence to locate and recover valuable cargo from shipwrecks.
The Investor Documents are ready, and this week we’re doing a recorded Q&A session with the Oceyon team.
This is your chance to ask a question.
Drop it below and we’ll make sure it’s included in the session.
🚀 Current Deals
🍿 Film I & Launch JV
In December, our two film entities split a short-term bridge loan for the rerelease of a classic documentary by Kevin Smith. Repayment came right on time, yielding an IRR of 91%
We open select loans to Altea members who would like to co-invest in these opportunities. Drop your details here if you’d like to be kept in the loop.
👋 New Members
Welcome to the 33 new members since last week 👋
A few notable members..
⭐ Benjamin Nadelstein is Head of Content at Monetary Metals, which operates the Gold Yield Marketplace. They offer gold leases that allow you to earn a yield on your gold.
We met Ben last year at our big LA meetup last October. We’re publishing a Deep Dive into Monetary Metals this week.
🏘️ Matt Belcher is at a stealth mode real estate startup, bringing 1031 exchanges into the modern age. It’s a billion-dollar industry that’s still fragmented, opaque, and prone to data breaches.
Matt’s new platform uses AI-driven document processing to bring structure and security. Interested in a demo? Let Matt know.
💬 New Discussions
- Blue Owl permanently halting redemptions on their retail private credit fund is a pretty big deal. As usual, Leyla Kunimoto has the best analysis.
“This feels eerily similar to August 2007 when BNP Paribas froze withdrawals because they couldn’t value mortgage assets.
The core issue here is a massive liquidity mismatch: retail investors want private equity returns with public market liquidity. But you can’t have both!
When a fund holds highly illiquid loans to middle-market companies, giving retail investors a ‘quarterly exit door’ works fine until everyone rushes the door at once.
This could easily trigger a contagion effect where investors start pre-emptively pulling money from Blackstone and Ares funds just in case they gate redemptions next.” – Mandar Mirashi
- Brano added an important point about electricity to Stefan’s sauna investment case study
“I have both a hot tub and an infrared sauna at my house… I had a hot tub on an Airbnb in Spain it kept breaking down like mad… had to remove it cos of that.
But I think you have not at all considered how much electricity the sauna eats up in your calculations.
Considering people who rent an Airbnb with Sauna will defo use it I think it will defo cost you some more money to run it.
My sauna ears like 4KW power when its running… and cos I live in this cold ass place I usually turn it on for 1 hour cos it takes about 20 min to heat up and then you take a 20-40 min session so 4kwh of power gets easily used every time… If you hottub for 30 min after that’s another 2kwh easy.” – Brano Pajer
- The battery story investors keep getting wrong
- How much different countries pay Olympic winners
- Apple refusing to invest in AI capex is either very wise or very dumb
- How Alex Honnold’s brain is different from ours. (Hint: His amygdala is cool as a cucumber)
🙏 New Asks & Offers
Update on Lycian Way Challenge 🎗️
On his 46th birthday, Jason Cronen posted an update on his Lycian Way Challenge.
Donations have surpassed $5,000 and he wants make the Lycian Way Challenge an annual event to expand low-cost cancer screening access globally. 🎗️
See you next week!
Wyatt
