如题

问题如下：

Q. Discuss why Jenkins believes that a lack of noticeable performance differences across private debt fund managers may reflect a risk of private debt investing.

选项：

解释：

The inability to differentiate returns is likely associated with the lack of difficult economic circumstances facing private debt fund GPs over the historical reporting period in addition to their lack of liquidity. This creates an investment climate in which it may be difficult to assess fund manager quality based on differences in performance. Rather, investors must seek to manage their risks of private debt investing by performing stringent due diligence of fund managers on their entire investment process and portfolio construction process.