Upcoming Praxis Fund

[Jason Merchey]

Is anyone else eager to get involved in Praxis' next fund? It'll be my first with them.

[Jason Merchey]

Update: WOW was I impressed with the first sale they got off. It's an IRR to write home about, that's for sure!

However in the mean time, the model of floating rate debt + a rate cap has shown signs of stress.... I don't want to say more than that lest I share too much information, but anyone in Praxis funds knows what I'm talking about. 

I asked Brian Burke about it and he was kind enough to write me back. He was fair, modest, confident, and measured. Praxis still has ample opportunity to be like the "tortoise" in Aesop's fable about the race, and Brian feels "the jury is still out" on how the fund ends up years from now (and how floating rate + a rate cap fares compared to fixed rate debt with gnarly yield maintenance fees).