Demystifying Tax Receivable Agreements l Saish Setty & Parallaxes Capital l Ep 29
Manage episode 397390508 series 3498243
Today, I sit down with Saish Setty of Parallaxes Capital, an incredible innovative firm that is changing the way we think about tax receivable agreements-- TRAs. Parallaxes provides liquidity to tax receivable agreement ("TRA") stakeholders by monetizing otherwise long-dated assets and anticipate that TRAs will continue to become more common in the coming years while they lead the pack. Saish and I get into the weeds on how his firm provides alpha, what a TRA even is, and what he sees in the future of this asset class.
Great conversation with Saish, enjoy.
Saish Setty joined Parallaxes Capital in 2021 and previously worked at Paul, Weiss, Rifkind, Wharton & Garrison LLP and began his legal career in the Restructuring and Finance department at Wachtell, Lipton, Rosen & Katz.
Saish graduated from Princeton University with a Bachelor of Arts in Economics and from Harvard Law School cum laude with a Juris Doctor (J.D.).
Saish has been featured in Fitch’s LevFin Insights, Reorg Radio, and Forbes. He has spoken at events and conferences including those sponsored by Practicing Law Institute and the CFA Society’s High Yield Bond Master Class.
YouTube Channel: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew
[00:02:36] Growing a nascent asset class.
[00:05:14] TRAs in IPOs
[00:10:33] Valuating tax assets and TRAs.
[00:16:34] Creating an asset class.
[00:19:51] Risks of TRAs.
[00:26:43] TRA growth and expansion.
[00:30:05] Master's in tax agreement.
[00:36:14] Modeling after royalties space.
[00:39:00] A liquid asset.
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