Empty Rooms: Investing in Tax Assets at Parallaxes Capital

Andy Lee

Other Alternatives

Empty Room

Sponsored Insight


Episode: 305
March 30, 2023

Episode Description:

My guest on today’s sponsored insight is Andy Lee, the Founder and CIO of Parallaxes Capital. Andy spun out of Lone Star in 2017 to focus on the niche opportunity to invest in Tax Receivable Agreements or TRAs.

Our conversation covers Andy’s background and path to the hidden gem of TRAs. We cover the basics of a TRA, rationale for their use, drivers of return, and risks. We then discuss Parallaxes’ investment process, team, the future of the organization.

Learn more about Parallaxes Capital.

Show Notes
1:45 Andy’s background
3:25 Starting college at 15
5:10 Intro to tax receivable agreements
7:29 Creation of TRAs
11:46 Size of the TRA market
13:08 Drivers of returns
17:40 Operational logistics of TRAs
18:37 Sourcing transactions
22:40 Due diligence process
27:03 Exit strategy
31:41 Parallaxes team
32:32 Future opportunity set
33:33 Closing questions

Premium Members:

Listen and Follow:

Most Recent Episodes:

1 2 3 142
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram