The Long View Leyla Kunimoto: Why Investors in Private Markets Need a Louder Voice
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Jan 27, 2026 Leyla Kunimoto, founder of Accredited Investor Insights who covers private equity, private credit, and real estate from the limited partner view. She talks about private credit risks and warning signs like payment-in-kind, fund leverage and liquidity pressures. She explains secondary market quirks, how retail might gain access, and the limits of IRR and NAV accounting.
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Pandemic Gateway Into Private Markets
- Leyla Kunimoto entered private markets via pandemic-era syndicated multifamily real-estate deals and quickly expanded into varied real-estate asset classes.
- Networking with high-net-worth groups and attending conferences then brought her into private credit and private equity.
Few Independent LP Voices Exist
- Most public voices on private markets sit on the sales side, creating a scarcity of independent LP perspectives.
- Leyla started Accredited Investor Insights to level the information playing field for retail limited partners.
Bankruptcies As Canaries
- Recent private-credit bankruptcies act as canaries indicating underwriting and covenant stress after rapid capital inflows.
- Large inflows and cheap past financing raise concerns about underwriting robustness in private credit.
